KORE POTASH, a potash development company incorporated in the UK, has reported that the definitive feasibility study (DFS) for Phase 1 of its 97%-owned Dougou Extension (DX) potash project in Congo-Brazzaville remains on track and within budget to be completed in May 2021. The drilling campaign at the DX project, which is located in the Sintoukola basin, is also progressing on schedule, with mud rotary drilling of drill holes DX 10 and DX 11 having been completed to the anhydrite layer (depth of 338 m) and the holes have been cased and grouted ready for diamond drilling of core. “The DX project stands out as a very low-cost producer of potassium chloride, with compelling economics and close proximity to port and to our target markets,“ says Brad Sampson, the CEO of Kore, adding that „the more work we do, the more convinced we are that this is potentially one of the world’s very best potash assets.”
DAVENPORT RESOURCES, an Australia-listed potash development portfolio company, has received firm commitments for a placement of new securities to a range of sophisticated and institutional investors to raise a total of $10-million. The capital raising will ensure that Davenport is well funded to advance its portfolio of four standalone potash projects in the South Harz region of Germany. “This capital raising is transformational for Davenport and we are delighted that this ambitious raising, representing the top end of the directors’ target of $8-million to $10-million has been so overwhelmingly successful,” said Davenport CEO Chris Gilchrist. The projects in South Harz host a combined 5.3-billion tonnes of potash resource – the largest resource in Western Europe. The funds raised would allow the company to move forward with a confirmatory drilling programme at the first of these projects – the Ohmgebirge project – to upgrade the classification of the 325-million tonnes at 13.14% K2O for 43-million tonnes of resource from the inferred category to measured and indicated.
VERDAN MINERALS, an Australia-based mineral exploration company, has proposed to develop and operate the A$1.5-billion Ammaroo Phosphate Project, approximately 200km south-east of Tennant Creek and 300km north-east of Alice Springs, Northern Territory, in Australia. The federal government has granted major project status to the project to mine phosphate, which will create more than 1000 jobs and export opportunities in the region. “The Ammaroo phosphate project has the potential to supply global markets with much-needed fertilizer, while supporting economic development in a remote part of the Northern Territory,” Minister for Industry, Science and Technology Karen Andrews said. “The potential for a local processing facility as part of the project will also ensure Australia has access to critical phosphate for fertilizer, which is essential for our agriculture sector and food security.” Being one of Australia’s largest phosphate deposits, Ammaroo is expected to produce around two-million tonnes of phosphate rock concentrate each year for 25 years.
