Potash

Samir Brikho has been appointed as Chairman of the Board of Directors.

The Notice to Proceed is an interim agreement that allows DRA and Colluli Mining Share Company to commence the Engineering, Procurement and Construction Management process.

The mining services scope covers the pre-production period (development) plus the first 5 years of production. The scope includes the provision, operation and maintenance of excavation, haulage and dewatering equipment.

The company is raising AUS$1.6 million from investors to fund ongoing pre-development activities at its Lake Wells Sulphate of Potash Project in Western Australia.

The company will sell 50 000 tpy of SOP to HELM AG for a period of 10 years.

The company has said that a pre-feasibility study for the Dougou extension is on track to be completed on budget in April 2020.

The company is considering increasing production of SOP to take advantage of the Fort Cady Borate Min'se location, infrastructure and US market dynamics.

The two drill rigs were purchased from Equity Drilling, to be used for the company’s current DX Pre-Feasibility Study drilling campaign.

AFC’s strategic equity investment is part of the overall funding package for development and construction of the Colluli Sulphate of Potash Project.

The Vanguard Area comprises two Saskatchewan subsurface potash mineral leases, KL 244 and KL 245, surrounding the villages of Tugaske and Eyebrow.

The company is now able to proceed with first drawdown on its project debt facilities underpinning the ongoing development of its Beyondie Sulphate of Potash Project (BSOPP).

Moroccan Government incentives could contribute up to 10% of the project's total CAPEX.

A 500 m aircore drilling programme at the Laverton Links SOP project in Western Australia will aim to convert the current Exploration Target to a Mineral Resource estimate.

The company has signed term sheets with Unifert, Indagro and Ferisur for the sale of Lake Way sulfate of potash, with a total volume commitment of 170 000 tpy.

The company sold 87 500 t of its multinutrient potassium fertilizer, marketed and sold in Brazil under the brand K Forte and internationally as Super Greensand, in 3Q19.