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South Harz Potash advances towards potash development in the heart of Europe

Last updated: 23:45 27 Mar 2024 GMT, First published: 05:44 26 May 2021 BST

Snapshot

  • South Harz Potash raises $496,915 in entitlement offer shortfall, advances Deusa discussions
  • South Harz Potash well positioned as global economic and political conditions combine to favour German project
  • South Harz Potash COO delivers update on flagship Ohmgebirge Project
South Harz Potash Ltd - South Harz Potash well-positioned to become the dominant European supplier of choice

About the company

South Harz Potash Ltd is a potash exploration and development company with its flagship project in the South Harz Potash District region of Germany, midway between Frankfurt and Berlin.

The South Harz Project hosts a globally large-scale potash resource of 5 billion tonnes at 10.6% K2O of inferred resources and 258 million tonnes at 13.5% K2O of indicated resources across four wholly-owned project areas located favourably within central Europe.

How it is doing

27 Mar 2024

South Harz Potash Ltd (ASX:SHP) has completed the placement of its entitlement offer shortfall, raising an additional $496,915.

This funding effort is part of the company's ongoing development of the Ohmgebirge Potash Project.

The placement involved 21.605 million shares priced at $0.023 each. Of these, 16.605 million shares were issued immediately, with the remaining 5 million shares scheduled for issuance next week.

The completion of this entitlement offer, including the shortfall, has netted the company around $1.1 million before costs.

10 Mar 2024

South Harz Potash Ltd (ASX:SHP)’s pre-feasibility study (PFS) for its flagship Ohmgebirge potash development in central Germany is on track to be completed early in the upcoming quarter, with plans to implement a lower cost structure focusing on internal project optimisation. 

The company also advises that commercial partnership discussions with adjoining project and infrastructure owner, NDH-E/DEUSA International GmbH (Deusa), are progressing well. 

28 Feb 2024

South Harz Potash Ltd (ASX:SHP) has raised $586,000 in a pro-rata entitlement offer of one new share offered for every 15 shares held by eligible shareholders at an issue price of $0.023 per share.

The entitlement offer follows a recent placement to sophisticated and professional investors at the same issue price that raised A$1.25 million taking the total capital raising to $1.836 million.

Insight: South Harz Potash well positioned as global economic and political...

29 Sep 2022

“The status of the market place has changed materially over the calendar year,” says Ian Farmer, acting executive chairman of South Harz Potash Ltd (ASX:SHP) (South Harz Potash Ltd (ASX:SHP)).

That’s putting it mildly, since at one point in 2022 the potash price went over US$1,000 per tonne -  almost three times the pricing assumption  South Harz used in a recent scoping study that investigated the economic potential of developing its Ohmgebirge project in Germany.

What management says

13 Jul 2023

South Harz Potash Ltd (ASX:SHP) chief operating officer Lawrence Berthelet speaks to Proactive's Thomas Warner about progress at the potash exploration and development company's flagship Ohmgebirge development in Germany.

The project is located in the South Harz region of the country, an area with a rich history of producing potash. He says that the preliminary feasibility study (PFS) for the mine is around 50% complete and that the company is currently focused on optimising the process flow diagram, refining the mine plan, and developing logistics solutions.

Berthelet emphasises the availability of well-developed infrastructure in Germany, including gas, power, rail, and water resources, which significantly de-risks the project.

South Harz Potash Ltd uncovers more potash than expected

Dr Chris Gilchrist speaks to Proactive London with regards to progress on its current projects.  South Harz completed, successfully, the first of two confirmatory drill holes in the first quarter of the year, finding 11 metres of potash which was double previous expectations.  It also...

on 10/5/22