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 31/05/17

1 year TSR5 year TSR
29thBlack Mountain Resources333%-29%
165thEmmerson Resources61%-11%
670thPoseidon Nickel-43%-23%
694thBlack Star Petroleum-50%-54%
706 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

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


111th↑Emmerson Resources$1.6m
113th↑Poseidon Nickel$1.5m
116th↑Black Star Petroleum$1.4m
117th↑Black Mountain Resources$1.3m
495 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Danakali

120thPaul Donaldson$764k
344thJohn Fitzgerald$184k
449thSeamus Cornelius$72k
Ranked by total remuneration from all listed WA companies

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