Company
ASX:HFR
Highfield Resources Ltd (ASX:HFR) is a potash company that focuses on its flagship low-cost, low-capex Muga Project in Spain. The company’s potash tenements Muga-Vipasca, Pintanos and Sierra del Perdón are in the Ebro potash producing basin in northern Spain, covering an area of around 276 square kilometres. Once in production, the project is forecast to be one of the highest margin potash mines in the world.
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The facilities from a group of experienced European mining finance lenders will cover a substantial portion of the pre-production investment required to complete the construction of Muga Potash Project in Spain.
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“The authorisation for the electricity line from the Government of Navarra is the first concrete result from a lot of work undertaken with the local urbanistic administrations,” says CEO.
Harris will be appointed independent non-executive director and chairman of the board with effect from March 25, 2022.
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With the execution of these two contracts, the company has now signed purchase contracts for all of Muga Mine’s critical process plant equipment.
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The company’s recent revised feasibility study for the Muga-Vipasca Potash Project in Spain returned promising financial projections, including EBITDA of around €400 million per annum at full production.
The latest feasibility study is based on more refined economic and engineering data than the previous study, and the company is confident of high returns over the 30-year life of the proposed mine.
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The company is progressing rapidly towards construction at its flagship project in Spain, which will be one of the highest-margin potash mines in the world.
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The company is making strong progress toward construction at flagship Muga Potash Project that is forecast to be one of the highest margin potash mines in the world
Once in production, the company’s Muga Project is forecast to be one of the highest margin potash mines in the world.
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The key equipment deal with Weir Minerals advances Highfield Resources a step closer to low cost, low capex potash production at Muga.
The Muga Project in Spain is forecast to be one of the highest margin potash mines in the world.
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“With the successful completion of the SPP, Highfield continues to progress the Muga project to construction,” says CEO.
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Bilbao will facilitate the implementation of the requisite logistics infrastructure and services at the port to efficiently meet the project’s logistical needs.
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The company plans to raise $4 million through the issue of shares to eligible shareholders at $0.52 per share and free from any brokerage or transaction costs.
Investors can acquire a minimum of $1,000 and up to, in aggregate, $30,000 of shares in Highfield at an issue price of $0.52 per share free from any brokerage or transaction costs.
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The company plans to use proceeds from the placement in providing a runway to pursue project finance and other strategic alternatives to fund the construction and also to complete the preconstruction activities.
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With excellent road and rail connections, Port of Pasajes currently handles around three million tonnes of dry bulk product annually.
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Highfield’s Ignacio Salazar will continue to serve as CEO as he takes on the managing director appointment and joins the company's board.
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Highfield is nearing construction at its Muga Project in Spain, where it believes the Muga Potash Mine could become one of the highest-margin potash mines in the world.
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Maria Chivite and other regional officials participated in an event to commemorate the award of Mining Concessions for the Muga Potash Project in northern Spain.
