Allana Potash (AAA.TO) has filed its feasibility study with the Ministry of Mines in Ethiopia. This filing is a necessary step to receive their mining license which is expected later this quarter. The receipt of the mining license will obviously be a very important step for Allana, as it’ll be a condicio sine qua non to find financing for the project. The Danakhil project has an after-tax NPV of approximately C$4.75 per share of Allana Potash.
Meanwhile, the company has announced drilling has resumed on the Nova concession, where three drill holes have already been completed and ten more will be drilled over the next few weeks. We expect to be briefed on the results by the end of May.
Disclosure: The author holds a long position in Allana Potash Inc. Please see our disclaimer for current positions.
