Constructive news published from potash associated businesses
Aim-listed prospecting company African Potash has initiated drilling the primary pit at its Lac Dinga project, within the Republic of Congo.
The first pit, which is projected to a depth around 500 m beneath surface, is the very first of a 2-pit rotary/core prospecting programme that will examine two high-priority marks considered to possess possible for premium potash mineralisation based on the interpretation of seismic data.
African Potash CEO Edward Maslow said the goal of the preliminary prospecting strategy is to boost the firm's comprehension of the mineral and to supply the groundwork for examination of the volume capacity of the asset.
Native conveyance safeguard systems vendor Horne Group was awarded orders for several Technogrid cage arrestors for use at mines in Canada.
Horne Group accepted a purchase in March to start engineering design work on Technogrid cage arrestors to be utilized on the headgear as well as the foot of the principal shaft at diverse miner BHP Billiton's Jansen mine, a greenfield potash project under development in the Saskatchewan potash basin, in Canada.
The Jansen project is within the practicality study phase and can potentially turn out to be one of the world's premier potash mines and produce a program for a substantial and extensible potash business for BHP Billiton.
The quote for this structure follows a previous purchase made in February to develop Technogrids for that mine's services shaft.
While Horne Group has concluded the design of the Technogrids, handover is planned only for 2016 or 2017. "We are, for that reason, only possibly to commence manufacturing in 2016," states Horne Group marketing and sales VP and Canada operations GM Stephen Hill.
At the same time, potash and phosphates producer Mosaic submitted a quote for Technogrids late in 2013. The Technogrids, which were supplied to location, will be set up at Mosaic's K3 shaft at the Esterhazy Mine, also in Saskatchewan.
The K3 shaft is estimated to contribute 1 million tons annually to Esterhazy's active potash volume of 5.3-million tonnes annually, the largest of any potash mine around the world.
Premier African Minerals Ltd have reported that Circum Minerals Ltd has bought its share in the Danakil potash venture in Ethiopia for cash and stocks.
The AIM-traded, multi-commodity natural deposit business with mineral ventures established in western and southern Africa, stated Circum used its exclusive choice to purchase the entire granted share capital of Mandalore Development Ltd, a corporation which has a 30 % interest in the Danakil endeavor and that Premier African acquired recently.
Circum, started by Steve Dattels, already holds 70 % of the site and will acquire the whole property.
Premier African Minerals reported that they will no longer have to repay a USD2.5 million net swing loan from Circum and shall be granted two million brand-new stocks in Circum with a present estimated worth of USD1.4 million.
The business also reported that they will get a further USD1 million fee in July, September, November and January 2014.
"Through this acquisition, Premier has successfully realised considerable initial value from an exploration project in a capital market economy that is merely not supportive of ore pursuit," Chief Executive George Roach said in a statement.
"With USD5 million essentially 'in the bank', a maintained value in Circum, numerous innovative prospecting ventures and our outstanding RHA Tungsten endeavor practically ready to develop stage, I'm justified in tackling the future with assurance," he added.
Premier African Minerals shares increased 8.3 % to 0.975 pence, putting it among the leading AIM ALL-Share risers Thursday.