Davenport Resources Ltd’s (ASX:DAV) (FRA:D86) board of directors has resolved, subject to shareholder approval at an extraordinary meeting to be held on May 4, to change the company's name to South Harz Potash Limited.
The board believes that a name associated with the region in Germany where the company’s assets are situated, together with the intended end-product, will better represent the company.
If approval is achieved, the company will change its code to ASX:SHP.
World-class potash projects
Davenport’s potash projects in the South Harz region of Thüringia consist of three perpetual mining licences - Ohmgebirge, Mühlhausen-Nohra and Ebeleben - as well as two exploration licences - Küllstedt and Gräfentonna – which host an inferred resource of 5.3 billion tonnes.
The company recently completed a A$10 million placement and is now well-financed to move forward with a confirmatory drilling program at Ohmgebirge, with plans to complete a scoping study by the end of this year.
Davenport then intends to progress through to a definitive feasibility study during 2022.