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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 30/11/17

1 year TSR5 year TSR
156thDanakali79%12%
371stLegend Mining15%-5%
497thCarnarvon Petroleum-4%9%
799thCalidus Resources-75%-34%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

16/11/17
$278k Other
16/11/17
$56k Bought
16/11/17
$56k Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

98th↓Carnarvon Petroleum$1.8m
99th↓Danakali$1.8m
101st↑Legend Mining$1.7m
102nd-Calidus Resources$1.7m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Danakali

110thPaul Donaldson$764k
312thJohn Fitzgerald$184k
403rdSeamus Cornelius$72k
Ranked by total remuneration from all listed WA companies

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