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(PAI) Danakali prepares to update market on off-take negotiations

Posted by: Semere Asmelash

Date: Friday, 08 June 2018

Danakali prepares to update market on off-take negotiations

11:26 08 Jun 2018

The Colluli Potash Project is amenable to simple, low cost, open-cut mining.
The company had $16.4 million cash at the end of the March quarter

Danakali Ltd (ASX:DNK) has entered a trading halt today pending the release of commercial information regarding the progress of its off-take negotiations.

Shares in the company will remain halted until the earlier of the release of the relevant information or the commencement of trading next Wednesday.

READ: Danakali well-funded to continue execution phase at Colluli Potash Project

Danakali continues the execution phase for its Colluli Potash Project in Eritrea.

After completing the study phase, Danakali is focused on offtake, funding, operational contracts, operational readiness and corporate social responsibility.

READ: Danakali’s advanced potash project is a cut above the rest

The project is owned by the Colluli Mining Share Company (CMSC), a 50:50 joint venture between Danakali and the Eritrean National Mining Corporation (ENAMCO).

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