Danakali Limited - March Quarterly Activities and Cash Flow Report

Danakali Limited - March Quarterly Activities and Cash Flow Report

Danakali had a highly active quarter with the advancement of its Colluli potash project in Eritrea. Milestones included the signing of 8 sulphate of potash offtake MOUs with multinationals, as well as the completion of all mining approval prerequisites and the submission of the application. Also in the quarter, the DFS was submitted to the Eritrean Ministry of Energy and Mines, and the Social and Environmental Impact Assessments and Management Plans were completed for Colluli. 


HIGHLIGHTS

COLLULI POTASH PROJECT

  • 8 sulphate of potash offtake MOUs signed with multinational customers
  • Mining approvals prerequisites completed
  • Definitive feasibility study submitted to the Eritrean Ministry of Energy and Mines
  • Post DFS stakeholder engagements completed
  • Social and Environmental Impact Assessments and Management Plans completed
  • Premium chloride free, multi nutrient product suite expanded following the production of sulphate of potash magnesia (SOP-M)

PLANNED FOR JUNE QUARTER

  • Submission of mining license application
  • Continued discussions with offtake and project funding partners

CORPORATE

  • Cash position of A$6.1m at quarter end
  • Successfully completed a placement to sophisticated investors to raise A$5.5m
  • Appointment of Company Secretary

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