Danakali s A$20.3 million placement validates world-class Colluli Potash Project in Eritrea
The company is now well placed to commence the early works program emphasising critical plant and infrastructure in Eritrea to support the full-scale development. Additional proceeds of A$464,400 will be received from Danakali directors, subject to shareholder approval.
Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) (FRA:SO3) has completed a A$20.3 million placement to support the early works program at its Colluli Potash Project in Eritrea, East Africa.
Funds have been received from domestic and international, institutional and sophisticated investors and Danakali will also receive another A$464,400 from directors - subject to shareholder approval at Danakali’s Annual General Meeting planned to be held in June 2021.
S&P/ASX 200 slips 0.66% as inflation fears grip global markets
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S&P/ASX 200 slips 0.66% as inflation fears grip global markets
Brent crude futures rose 0.5% to US$68.67 a barrel on worries of gasoline shortages due to the outage at the largest US fuel pipeline system following a cyber-attack. Wednesday’s US consumer inflation data for April is expected to show the biggest year-on-year gain in a decade.
S&P/ASX 200 (INDEXASX:XJO) fell 0.66% to 7050 points by 12.50 pm, with the banks, materials, and property stocks weighing heavily.
Investors have grown worried about the threat of inflation, with the US Dow Jones Industrial Average falling 1.4% on Tuesday, its worst day since February.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Proactive news headlines including Walkabout Resources, Emyria, CardieX, Noxopharm and Danakali
Proactive InvestorsMay 12, 2021 GMT
Sydney, May 12, 2021 (GLOBE NEWSWIRE) Proactive, provider of real-time news and video interviews on growth companies listed in Australia, has covered the following companies:
Walkabout Resources Ltd (ASX:WKT) (FRA:N6D) has raised A$6.4 million in tranche one of a staged placement that will enable it to advance construction of the flagship Lindi Jumbo Graphite Mine in Tanzania. Click here
Emyria Ltd (ASX:EMD) has achieved class IIa ‘Software as a Medical Device’ registration in Australia for its unique smartphone-based, medical-grade, heart rate, heart rate variability and atrial fibrillation monitoring application using only a smartphone camera. Click here
Danakali raises A$20.3 million in heavily oversubscribed placement for early work at Colluli SOP Project
The company will use proceeds for early work including site road development, geotechnical optimisation, reverse osmosis plant completion and installation, exploration camp relocation and RA International mine camp installation. The early works program at the Eritrean project will begin immediately.
Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) (FRA:SO3) has completed a heavily oversubscribed placement to domestic and international institutional and sophisticated investors raising A$20.3 million.
The company will issue 47,296,231 ordinary shares in the placement at A$0.43 per share.
Proceeds will be used for early work at the Colluli Sulphate of Potash (SOP) Project in Eritrea, including site road development, geotechnical optimisation, reverse osmosis plant completion and installation, exploration camp relocation and RA International mine camp installation.