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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 31/08/16

1 year TSR5 year TSR
402ndDanakali11%-30%
545thGME Resources-9%-18%
677thLion Energy-43%-17%
777 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

07/07/16
$56k Other
07/07/16
$56k Bought
07/07/16
$56k Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

97th↑Danakali$2.4m
98th↑Celsius Coal$2.3m
100th↓Lion Energy$2.3m
101st↑GME Resources$2.2m
525 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Danakali

290thPaul Donaldson$449k
787thLiam Cornelius$191k
216thAnthony Kiernan$122k
Ranked by total remuneration from all listed WA companies

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