Danakali Limited - June 2016 Quarterly Report

Danakali Limited - June 2016 Quarterly Report

Danakali had a busy quarter advancing the world class Colluli project in Eritrea, including providing SOPM samples to potential off-takers and initiating the project power supply tendering process. Immediate work will include the completion of the second round of post DFS stakeholder engagements, the continuation of off-take and financing discussions and the identification of potential off-takers and volumes. Colluli is one of the most advanced stage greenfield SOP developments in the world.


Danakali Ltd (ASX: DNK) (“Danakali” or “the Company”) is pleased to provide this quarterly update on its Colluli Potash Project (“Colluli” or “the Project”), located in Eritrea, East Africa.

HIGHLIGHTS

CONTINUED SUCCESSFUL ADVANCEMENT OF THE WORLD CLASS COLLULI POTASH PROJECT

  • Danakali team continues its solid track record of delivery and results
  • Colluli is one of the most advanced stage greenfield sulphate of potash developments in the world
  • Submitted Mining license application to the Eritrean Ministry of Energy and Mines
  • Submitted Social and Environmental Impact Assessments (SEIA) and Management Plans (SEMP)
  • Completed Public review period of SEIA documents
  • Conducted Mining Analyst site visit to Colluli
  • Initiated tendering process for Colluli power supply
  • Provided Sulphate of potash magnesia (SOPM) samples to potential off takers

PLANNED FOR SEPTEMBER QUARTER

  • Completion of second round of post DFS stakeholder engagements
  • Continuation of off-take and financing discussions
  • Identification of potential off-takers and volumes for Sulphate of potash magnesia (SOPM)
  • Completion of financial assessment of production of (SOPM) · Complete adjudication of power supply tenders
  • Complete detailed specification and analysis of soluble products from the resource
  • Finalise kieserite (magnesium sulphate) volume within the Colluli resource
  • Assess grade of gypsum and exploration volume potential within the tenements

CORPORATE

  • Strong cash position of A$5.2m at quarter end
  • Completion of second tranche of share placement
  • Progressed off-take and project funding discussions
  • Implementation of Sustainability Development Framework
  • Appointment of Non-Executive Director

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