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Danakali raises $12m for potash project

Aspiring potash producer Danakali has tapped investors for $12.3 million as it moves ahead with development of its Colluli project in Africa.

Perth-based Danakali raised the funds through the placement of 20 million shares to UK and Australian investors at 62 cents a share, representing a 7.9 per cent discount to the company’s 30-day volume-weighted average price.

The proceeds of the raising will be used to complete development cost reduction and optimisation work in the front-end engineering process of the Colluli development works, as well as completion of tendering processes for key contracts.

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Danakali (DNK)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/09/17

1 year TSR5 year TSR
97thDanakali82%-5%
614thLiquefied Natural Gas-38%5%
725thS2 Resources-57%0%
780thCapital Mining-73%-64%
793rdLatin Resources-80%-55%
719 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

26/05/17
$30k Issued
26/05/17
$150k Issued
26/05/17
$30k Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

93rd↓Danakali$1.8m
139th↓Liquefied Natural Gas$551k
140th↑Capital Mining$550k
148th↓Latin Resources$431k
149th-S2 Resources$428k
489 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Danakali

115thPaul Donaldson$764k
327thJohn Fitzgerald$184k
421stSeamus Cornelius$72k
Ranked by total remuneration from all listed WA companies

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