Australia-listed Potash West
NL has upgraded its Dinner Hill phosphate resource,
part of the Dandaragan Trough phosphate and potash project
located near Perth, Australia to 250m tonnes ore at 2.9%
Tonnage increased by 108% during the
upgrade, while the grade of the resource was pushed up by 4%.
Indicated and inferred potash resources at Dinner Hill now
stand at 195m tonnes at 3.8% K2O.
"Importantly, the mineral inventory for
phosphate production has increased substantially, and there is
still a significant area of the prospective Dinner Hill
tenement to be explored," Patrick McManus, Potash
West’s managing director, said.
The company also noted the significance of
the fact that the phosphate resource increases in grade to the
north within the area of drilling. The results will form the
basis of a mine design for the project’s
feasibility study, which is due to begin in the third quarter
Highfield Resources Ltd
has successfully completed two drilling campaigns designed to
confirm the geochemical conditions for the two proposed mine
decline routes at the Muga potash project in Spain.
The Australian junior’s
managing director, Anthony Hall, said: "The commencement of
decline construction is critical to ensure we meet are planned
production timelines of the first half of 2017. We were
also very pleased by the high grade potash mineralisation in
[holes] J14-13 that is likely to enhance the Muga
mine’s grade and life."
Geotechnical assessment of the core has
not yet begun, but Highfield advised that each key lithology of
the project was encountered.
While the presence of water, which can
present an operational difficulty
for potash mines owing to the solubility of the salt group
mineral, was recorded, Highfield said that it is localised to
rock fractures and does not indicate the presence of a
Meanwhile, in Canada, advisory firms
Institutional Shareholder Services Inc. (ISS)
and Glass, Lewis and Co. LLC (Glass Lewis)
have recommended that shareholders of TSX-listed Allana
Potash Corp. vote for the proposed arrangement whereby
Tel Aviv-based Israel Chemicals Ltd (ICL) will
purchase all of the company’s shares for Canadian
dollar C$0.50 ($0.40*) each.
"We are glad to see that two leading
independent proxy advisory firms recommend that our
shareholders vote for the ICL-Allana transaction," Farhad
Abasov, Allana’s CEO, said.
"Allana’s board of directors
and management believe that the arrangement provides a very
attractive opportunity for the company’s
shareholders to realise full liquidity at a substantial premium
to the market price of the common shares of Allana and firmly
validates the efforts of the last six years of development by
the Allana team," Abasov added.
Allana’s stock currently
stands at C$0.495/share, though just before the deal was
announced it stood at C$0.33/share. On 4 November 2011,
Allana’s shares were trading at $1.27/share, the
company’s peak listed value.
TSX-V-listed DuSolo Fertilizers
Inc. has entered into a two year contract to sell
30,000 tpa phosphate-based direct application natural
fertiliser (DANF) with a Brazilian fertiliser distributor local
to the company’s Bomfim project.
The buyer will pay Brazilian real (R$)
230/tonne ($73.18/tonne) for 15% P2O5
DANF to DuSolo for total gross proceeds of R$13.8m
"Being the sole local supplier of DANF in
the region, our product is in demand as it offers local farmers
a high quality fertiliser at competitive prices. We are
currently in negotiations with a number of local agribusinesses
for our DANF product and expect to announce more sales
contracts in the coming weeks," Eran Friedlander,
DuSolo’s CEO, said.
DuSolo will has already received an
advanced payment of R$115,000 ($36,590) from the distributor
for the immediate delivery of 500 tonnes DANF.
PhosCan Chemical Corp. has initiated a
strategic review process aimed at enhancing shareholder
A special committee of three independent
directors, Stephen White, Murray Sinclair and Gordon McKinnon,
with White chairing the board will be established.
PhosCan owns the Martison phosphate
project in northern Ontario, Canada, and has around C$54m in
cash and cash equivalents.
"The special committee will consider a
range of alternatives available to the company. These
alternatives include, but are not limited to, investing the
cash and cash equivalents not required in the near term to
advance the Martison project in other assets, a merger or
business combination transaction involving a third party, or
any combination thereof," PhosCan said.
Also based in Toronto, Verde
Potash Plc has announced positive results for its crop
growth testwork, which prove that the company’s
TK47-branded potash product can realise 9.32% more carrot
growth mass than standard muriate of potash (MOP) products.
Verde said that the tests were requested
by Brazil’s largest carrot producer. The test was
carried out by an independent research institute.
"The tests validate TK47's benefits for
plant nutrition, plant protection, soil improvement and
increased sustainability," Verde said.
Verde also saw that TK47 could "unlock" a
significant amount of phosphate from the soil, by making it
available for plant uptake.
In Vancouver, Western Potash
Corp. has confirmed that UBS Securities Canada
Inc. has filed a lawsuit against the company before
the Ontario Superior Court of Justice.
UBS is claiming fees, disbursements and
damages in connection with a strategic investment in Western
Potash by China BlueChemical Ltd and Guoxin International
Investment Corp. Ltd via a wholly owned subsidiary CBC Canada
"The company believes that
UBS’ lawsuit is unfounded and entirely without
merit, and intends to vigorously defend itself against the
lawsuit," Western Potash said.
tchewan, Gensource Potash
Corp. has recommended its shareholders to change
auditor from Ernst & Young LLP (EY) to MNP LLP.
Gensource that there were no reservations
in EY’s reports in the two most recently concluded
Finally, in the UK, Qualter Hall
& Co. Ltd has chosen by Cleveland
Potash, a subsidiary of ICL, to design, supply,
install and commission a polyhalite processing facility for the
Boulby potash mine in Yorkshire, England.
Qualter Hall will supply screening and
crushing equipment, a conveyor belt, a stockpile shed,
vibrating feeders and a dust extraction system, among other
requirements according to reports.
UK-based junior Sirius Minerals
Plc is looking to bring its York Potash polyhalite
project into production nearby to Cleveland’s
Boulby mine. A crucial permitting decision on the development
is due in the coming weeks.
*Conversions made June 2015