Potash

The agreement covers the supply of 50 000 tpy of K-Brite sulfate of potash to China from the Lake Wells project through Migao.

The company is reviewing all expenditures related to its Sevier Playa sulfate of potash project in Utah, US.

The certificates relate to the Environmental and Social Impact Assessments (ESIA) for the Dougou and Kola mining licences and relax the previous requirement for periodic compliance certificates.

The Northern Australia Infrastructure Facility has advised that the Lake Wells sulfate of potash project has been approved to proceed to due diligence.

Early process plant construction work has now commenced and the project remains on schedule for December 2020 commissioning.

The company recorded a cash position of AUS$33.8 million as at 31 December 2019.

Gensource Potash Corp. is confident that Tugaske will reach a financial close as forecast later this summer, despite the effects of Covid-19 and the associated market upheaval.

In light of the rapid spread of Covid-19 and its significant impact on global financial markets, Tranche 2 of the Africa Finance Corp’s equity funding will be deferred to allow for the stabilisation of market and global conditions.

The two companies signed an offtake agreement for the supply of 20 000 tpy of K-Brite sulfate of potash from the Lake Wells project earlier this month.

At 31 December 2019, the company had cash of CAN$7.5 million, a positive working capital of CAN$7.2 million, and no debt.

Progress on finalising the project's feasibility study is continuing.

The project is located in the East Pilbara region of Western Australia.

The company will now focus on the San Jose lithium project in Spain.

Highfield Resources submitted the documentation for its Muga potash project in Spain on 13 March 2020.

The company is set to supply Redox with 20 000 tpy of K-Brite sulfate of potash over 10 years from the Lake Wells sulfate of potash project.