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Danakali releases its half year results

Published by , Assistant Editor
World Fertilizer,

Danakali Limited, the potash company focused on the development of the Colluli potash project in Eritrea, has released its results for the six month period ended 30 June 2018.

The company reported a cash position of A$14.5 million as of 30 June 2018.

The report also mentioned the resignation of Danny Goeman as CEO, and the appointment of Seamus Cornelius as Executive Chairman and appointment of Niels Wage as Chief Commercial Officer, the successful admission to trading on the London Stock Exchange (LSE) Main Market, and the advancement to the final negotiation stage for engineering, procurement, construction & management, and mining contracts.

“We have made significant progress in the first half of this year, achieving key milestones on the path to securing the necessary financing and commencing development of the Colluli Potash Project, including confirming a take-or-pay offtake agreement for up to 100% (minimum 87%) of Colluli Module I SOP production with EuroChem and listing on the LSE Main Market in July," said Danakali Executive Chairman, Seamus Cornelius.

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