Highfield Resources (ASX: HFR) non-executive chairman Derek Carter and executive director Pedro Rodriguez have become substantial shareholders in the company.
Carter and Rodriguez both hold a 5.77% interest with a shareholding of 5.5 million shares.
The shares were issued as consideration for the sale of KCL Resources.
Earlier this week Highfield completed the acquisition of two Spain-based potash projects, which will complement the company's existing potash asset the McLarty project in the Canning Basin.
Highfield is now very well positioned with three potash projects at different stages in the development cycle.
The company now has a 100% interest in the Navarra and Aragon projects, which are located in Spain’s Ebro potash producing basin in the north of the country.
The Navarra project is a former operating mine with close to 400,000 tonnes of potash production per annum for the 25 years through to 1997. The asset remains under explored and unmined with a known path to recommencing production.
Aragon is an advanced exploration project with 16 drill holes into the package, shallow potash mineralisation, strong visibility of a JORC Resource and the potential for a relatively short horizon to production.
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