Potash

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.

The company increased revenues for 3Q19 by 8% to €905 million.

The Northern Australia Facility loan from the government of Western Australia will assist in developing infrastructure for the company's sulfate of potash project at Beyondie.

Sales for 3Q19 were US$1325 million compared to US$1371 million for 3Q18. The potash division's sales decreased by 8% in 3Q19, while operating income increased by 6% compared to 3Q18.

The Environmental Review Document comprises a thorough understanding of the environmental setting in the Project area, developed through detailed flora and fauna surveys and studies.

At 30 September 2019, the company had cash of CAN$8.2 million, a positive working capital of CAN$7.8 million and no debt.