The deal aims to speed up development of Allana’s promising Danakil potash project, in northeast Ethiopia.
Ethiopia Mining News
The Norwegian fertilizer firm Yara International (OTCMKTS:YARIY) has confirmed the potential to mine potash from the Danakil Depression in northeastern Ethiopia.
Initiative intends to unlock the potential of agriculture in Ethiopia by promoting balanced fertilization among local farmers.
The Toronto company has been granted a licence to mine the 2.4 billion tonne Dalol deposit.
Canadian Allana Potash is in negotiations with the Africa Export-Import Bank (Afreximbank) over a possible $600 million financing to develop $1.3 billion tonnes of potash resources in Ethiopia.
New tension stems from a dispute over water.
Ethiopian Potash Corp. (TSX.V:FED) has arranged to settle a portion of its outstanding debt by issuing an aggregate of 2,140,000 common shares
Pharaoh Gold Mines NL, Centamin's wholly-owned subsidiary, signed gold exploration contracts with Oman, Saudi Arabia, Ethiopia and Sudan.
Allana Potash Corp. continues consolidation in Ethiopia with strategic acquisition of Nova-Ethio Potash Corporation
Allana Potash (TSX:AAA) has entered an agreement to take over Nova-Ethio Potash Corporation
Tigray Reports 18.0 meters of 3.23% copper, 0.95 g/t gold, 22 g/t silver and 3.86% zinc at Mayshehagne, and 12.0 meters of 2.18 g/t gold and 68 g/t silver at Terakimti
Highlights from the Ethiopian projects include 18.0 meters of 3.23% copper, 0.95 g/t gold, 22 g/t silver and 3.86% zinc at Mayshehagne, and 12.0 meters of 2.18 g/t gold and 68 g/t silver at Terakimti.
Allana Potash's 2 billion tonne resource update + highly discounted stock promises substantial upside potential says Ubika Research in a update report
"Allana Potash's recent resource update, placing it closer to 2 billion tonnes, coupled with a proximity to key demand markets and growing transportation infrastructure in Ethiopia has set up its undervalued stock for a large upside"
("Allana" or the "Company") is pleased to announce that it has intersected two zones of strong potash mineralization in Holes DK-11-32, DK-11-33, and DK-11-34 ("Holes 32, 33,and 34"). All Holes are located southeast of the Musley Deposit, an area targeted to test the extension of the Sylvinite Zone into a gap in the previous drilling pattern.
Tigray Resources adds more pieces to the picture at the Terakimti prospect in Ethiopia as it drills more thick high-grade copper.
Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has intersected two zones of strong potash mineralization in both Hole DK-11-29 ("Hole 29") and Hole DK-11-31 ("Hole 31). Hole 29 is located in the western portion of the concession block and was targeted to test potash mineralization west of Hole 9.
Allana Potash Files Preliminary Economic Assessment Technical Report for Its Danakhil Potash Project
Allana Potash Corp. (TSX:AAA) (OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has filed a National Instrument 43-101 ("NI 43-101") Technical Report dated November 28, 2011 on SEDAR at www.sedar.com.
Allana Potash Corp. (TSX:AAA) ("Allana" or "the Company"), is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Dundee Securities Ltd., and including National Bank Financial Inc., Cormark Securities Inc., Macquarie Capital Markets Canada Ltd., and Fraser Mackenzie Limited (the "Underwriters"), to purchase 25,000,000 common shares of the Company (the "Common Shares") at a price of $0.80 per Common Share for gross proceeds of $20,000,000 on a bought deal basis (the "Offering").
TORONTO, ONTARIO--(Marketwire - Nov. 16, 2011) - Ethiopian Potash Corp. (the "Company") (TSX VENTURE:FED)(TSX VENTURE:FED.WT)(OTCQX:ETPHF) is pleased to announce that it has completed 16 diamond drill holes totalling 3,353 metres on its Danakil Potash Project. The initial 16 holes were drilled in the South-west Target Area. Holes 17 and 18 are currently being drilled to test the northern continuation of the South-west Target Area. All holes have intersected the Danakil Potash bearing sequence.
2Merkato reports the Ethiopian Ministry of Mines announced that five international companies have invested $6.5 billion in the Ethiopia potash mining industry which is centred in the Dalol area, part of the Danakil Depression (pictured). The five companies are G&B Central Africa Resource, Saynic Potash, Nova Potash, BHP Billiton and Toronto-listed Allana Potash. Allana has the backing of the World Bank and on Monday the company announced the latest in a string of high-grade discoveries at its 160 square km land position at Dalol.
Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has intersected three zones of strong potash mineralization in Hole DK-11-27 ("Hole 27").
Allana Potash said on Wednesday it has appointed Mark Stauffer, previously president of the Potash and Phosphate Institute of Canada, as chairman and is applying to move its listing to the Toronto main board. Up 80% since the start of the year stock in Allana, advancing a project in Ethiopia was trading steady on Wednesday amid the market turmoil. The company has announced a string of discoveries at its 160 square km Dallol project in Ethopia in recent months.
Up 103% since the start of the year stock in Allana Potash Corp, advancing a project in Ethiopia was trading steady on Thursday after the company announced it had intersected strong potash mineralization in an area not previously drilled at its 160 square km Dallol project in Ethopia. Listed on the TSX-Venture exchange Allana's East Africa project has the backing of the World Bank and most the latest announcement comes on the heels of a string of discoveries at its land position in Dalol, part of the Danakil Depression (pictured).
Allana Potash Announces New NI 43-101 Compliant Measured and Indicated Mineral Resources of 673 Million Tonnes and an Increase in Inferred Mineral Resources to 596 Million Tonnes
Allana Potash announced that it has received an updated National Instrument 43-101 ("NI 43-101") compliant Mineral Resource Estimate from ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergau ("ERCOSPLAN") on its Danakhil Potash Project in Ethiopia. The updated mineral resource estimate includes all four potash bearing beds (sylvinite, upper and lower carnallite and kainitite) in the project and is comprised of Measured and Indicated Mineral Resources totaling 673 Million tonnes with an average grade 18.65% KCl (composite of all four potash beds) and Inferred Mineral Resources totaling 596 Million tonnes with an average grade of 19.96% KCl (composite of all four potash beds).
Ethiopia is set to hit its target of more than doubling mining exports to an annual $1 billion ahead of time, the country's mining minister told Reuters, as it promotes gold extraction, but also fertilizer ingredient potash. Ethiopia, though still reliant on commodities like coffee for revenue, is expected to earn around $500 million from mining exports in the financial year to next July, the minister said. It had targeted doubling that over five years from 2010/11.
Although there was no apparent news driving it, Ethiopian Potash's (TSX-V: FED) shareprice leapt by as much as 20 percent Monday, up from 75 to 90 cents on strong volume. The push upwards may come from investors in anticipation of drilling results from Ethiopian Potash's Danakil property, where it reports an inferred resource of 128 million tonne @ 21 percent potash.
Canaco completes $120 million treasury bought deal financing and $43 million secondary bought deal financing
Canaco Resources Inc. (TSX VENTURE:CAN) ("Canaco" or the "Company") is pleased to announce it has completed its previously announced bought deal financing for aggregate gross proceeds to Canaco of $119,880,000 and aggregate gross proceeds to […]