እቲ ዓመት ዓመት ኣብ ሪፕሊ ወስት ቨርጂንያ (Ripley, West Virginia) ዝካየድ ዝነበረ ንግደት ደሃይ (Dehai Retreat) ብሰሪ ለበዳ ሕማም ቫይረስ ኮሮና ተሪፉ'ሎ። እቶም ኣብዚ ንግደት እዚ እንሳተፍ ዝነበርናን ፡ ኣብ’ዚ ናይ ሎም ዘበን ንግደት ክንሳተፍ መደብ ዝነበረናን ኩልና ፡ እቲ ንዕኡ ኢልና ከነውጽኦ ሓሲብናዮ ዝነበርና ገንዘብ ፡ ይብዛሕ ይውሓድ ፡ ኣብ’ቲ ህዝብና ንለበዳ ሕማም ቫይረስ ኮሮና ንምምካት ኢደይ ኢድካ እናበለ ዘካይዶ ዘሎ ማዕከን ወፈያ ክኣቱ እናተማሕጸንና ፡ እቶም ኣብዚ ክትሳተፉ እትደልዩ ናብ https://www.eritreafightscovid19.org/ ብምኻድ ክተዋጽኡ ብትሕትና ንዕድም።
እዚ ነተን ሓያላትን ሃብታማትን ዝብሃላ ሃገራት ከይተረፈ በዲሁ ብናህሪ ዝላባዕ ዘሎ ሰራም ለበዳ ሕማም ቫይረስ ኮሮና ዘምክሕ ኣይኰነን። ህዝብና ሰሚሩ መኪቱ ክሰግሮ ዘሎና ትምኒት ንገልጽ። ክብረት ይሃበልና

The annual Dehai Retreat for 2020 has been cancelled due to the coronavirus pandemic and total lockdown in the area. For this reason we encourage all those of us who used to attend these retreats in the past and those who were planning for this year to contribute the funds they would have spent for the Retreat (big or small) to the urgently needed #EritreaFightsCovid19 Fund. Make your contributions now by going to https://www.eritreafightscovid19.org/.
This fast spreading pandemic is challenging every country in the world. It is our sincere hope that our population will succeed in the efforts it is taking to slow down and arrest this pandemic.
Thank you.

Dehai News

(Proactive Investors) Danakali’s US$50 million AFC investment facilitates start of Colluli project execution activities

Posted by: Semere Asmelash

Date: Tuesday, 03 December 2019


Danakali’s US$50 million AFC investment facilitates start of Colluli project execution activities

Africa Finance Corporation has entered a subscription agreement with the company for a placement of shares.

John Miller

16:44 Tue 03 Dec 2019

Africa Finance Corporation has entered a subscription agreement with the company for a placement of shares.



Danakali Ltd - Danakali’s US$50 million AFC investment facilitates start of Colluli project execution activities
The company is on track to begin sulphate of potash production in 2022
Danakali Ltd (ASX:DNK) (LON:DNK) is on track for first production from Colluli Sulphate of Potash Project in Eritrea during 2022 after Africa Finance Corporation (AFC) agreed to a US$50 million strategic equity investment.

The company has entered into a subscription agreement with AFC for a placement of fully paid ordinary shares to raise the funds, which will facilitate the start project execution activities.

Part of overall funding

This placement is equivalent to around A$74 million and will be part of the overall funding package used for the development and construction of the Colluli project in Eritrea’s Danakil Depression region.

Colluli is fully permitted and construction-ready, with both the EPCM contract and senior debt documentation well advanced.

“Milestone for Danakali”

Danakali’s chief executive officer Niels Wage said: “I am very pleased to have secured AFC as a strategic equity investment partner.

“It marks a significant milestone for Danakali and continues our momentum towards financial close.

“Danakali has made good progress over the past 12 months having secured a large proportion of the development capex for Module I and demonstrated a sustainable approach to the future development of Colluli.”

The placement takes AFC’s total participation to US$150 million which demonstrates their major and long-term commitment to the project, Danakali and Eritrea.

This amount comprises US$50 million in Danakali equity plus US$100 million of credit approved Colluli Mining Share Company (CMSC) senior debt.

“Endorsement of project”

Wage said, “An investor with the reputation of AFC is a great endorsement of the project and will provide a strong platform to attract further investment.

“We are excited to commence project execution activities and look forward to providing updates to our shareholders and other stakeholders.”

Two tranches

The placement will be undertaken in two tranches:

  • The first tranche will consist of about 53 million new shares issued to AFC at an issue price of A60 cents per share to raise A$31.8 million (US$21.5 million); and
  • The second tranche, which is subject to Danakali shareholder approval and execution of senior debt documentation, will consist of about 70 million new shares at the same issue price as Tranche 1 to raise the remaining A$42 million (US$28.5 million).

The offer price of A60 cents per share represents a 6% discount to Danakali’s latest close price and a 5% discount to Danakali’s 30-day VWAP.

Colluli “stands apart”

AFC's chief executive officer Samaila D Zubairu, said: “We assess hundreds of potential investment opportunities across Africa every year.

“Colluli stands apart from other opportunities due to its long-life, low-cost, low technical risk and proximity to infrastructure.

“We look forward to a cooperative alliance with Danakali in delivering the Colluli Sulphate of Potash Project.”

AFC has received confirmation of approval from the Australian Foreign Investment Review Board (FIRB) of its application in relation to the placement.

Upon completion of both tranches would result in AFC holding 32% of Danakali, which grants it the right to nominate up to two directors to Danakali’s Board of Directors.

Majority of Module I funding

Danakali has previously announced credit approval for a US$200 million CMSC senior debt facility from AFC and Afreximbank.

This facility, together with the placement, represents the majority of Colluli’s Module I project funding requirements.

The company now has a clear pathway towards completing all funding for the project and is well progressed with assessing a range of options for the balance required.

Standard Chartered Bank is acting as corporate financial adviser to Danakali and Norton Rose Fulbright is acting as legal adviser.



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