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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 30/11/16

1 year TSR5 year TSR
75thAltura Mining221%-1%
197thBass Metals76%-24%
322ndDanakali30%-22%
609thRed Mountain Mining-25%-60%
645thBrockman Mining-36%-24%
773 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

29/11/16
$0 Other
28/11/16
$350k Bought
28/11/16
$350k Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

89th↑Bass Metals$2.5m
90th↓Altura Mining$2.5m
91st↑Danakali$2.4m
92nd↑Red Mountain Mining$2.4m
93rd↓Brockman Mining$2.3m
504 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Danakali

137thPaul Donaldson$764k
372ndJohn Fitzgerald$184k
577thAnthony Kiernan$74k
Ranked by total remuneration from all listed WA companies

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