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Danakali chairman updates on financing with construction to start before year-end

Seamus Cornelius, executive chairman of Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF), caught up with Proactive London after agreeing a US$200 million syndicated loan facility to go towards construction of its Colluli Potash Project in Eritrea.

The fully-underwritten loan facility led by African development financial institutions (DFIs) African Export-Import Bank and Africa Finance Corporation has a series of milestones Danakali must satisfy to qualify.

Colluli has a massive ore reserve estimate of 1.1 billion tonnes grading 10.5% potassium oxide for 203 million tonnes of contained sulphate of potash equivalent.

Quick facts: Danakali Ltd

Price: 0.63 AUD

ASX:DNK
Market: ASX
Market Cap: $167.32 m
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Danakali focused on closing project financing and kicking off construction...

Danakali Ltd (ASX:DNK, LON:DNK) CEO Niels Wage caught up with Proactive London's Andrew Scott soon after announcing they'd received credit approval for a US$200 million senior debt facility to fund construction of the Colluli Potash Project in Eritrea. He says they're continuing to assess a...

on 22/8/19

2 min read