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Danakali owns the Colluli project in a 50:50 joint venture with the Eritrean National Mining Corporation.

Danakali raises $5m for Colluli

Danakali has tapped investors for a $5.5 million capital raising to fund work at its Colluli potash project in Africa.

The potash hopeful raised the funds through the placement of 25 million shares at 22 cents each, with Danakali’s largest shareholder, Hong Kong-based investment vehicle Well Efficient, contributing to the raising.

The proceeds of the raising will be used to undertake front end engineering work at the $415 million Colluli project, initiate a mine contract tendering process, secure offtake agreements, and for working capital.

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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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