- Agrimin (AMN) has revealed an independent technical review (ITR) and a definitive feasibility study (DFS) have been completed at the Mackay Potash Project in WA
- The DFS was completed in July last year and indicated that the project can be a significant producer of sulphate of potash fertiliser for over 40 years
- Furthermore, the ITR determined that any risks are not expected to impact the technical and financial viability of the Mackay Project
- According to CEO Mark Savich, discussions are well advanced with a number of recognised fertiliser groups
- Agrimin has ended the day in the grey with shares trading at 50 cents in a $105.5 million market cap
Agrimin (AMN) has revealed an independent technical review (ITR) and a definitive feasibility study (DFS) have been completed at the Mackay Potash Project.
The Mackay Project covers 4370 square kilometres and lies in Western Australia, roughly 78 kilometres south of the Port of Wyndham.
It spans across Lake Mackay which is one of the world’s largest undeveloped sulphate of potash bearing salt lakes.
The DFS was completed in July last year and indicated that the project can be a significant producer of sulphate of potash fertiliser for over 40 years.
Currently, Agrimin is in the process of progressing the front-end engineering and design (FEED) phase of the project.
Additionally, the company is also progressing with Mackay’s approvals and financing.
Pleasingly, the ITR determined that any risks are not expected to impact the technical and financial viability of the Mackay Project.
The ITR was completed by Advisian, a subsidiary of Worley.
“The successful completion of the ITR is a key milestone to enable Agrimin to access significant debt finance for development of the Mackay Potash Project,” CEO Mark Savich said.
“In addition, negotiations with a number of globally recognised fertiliser groups are continuing in relation to binding offtake agreements. We expect to close these out in the near term, which will further support project financing,” he added.
Agrimin has ended the day in the grey with shares trading at 50 cents in a $105.5 million market cap.