Millennial Potash Corp Stock Price, News & Analysis

Millennial Potash Corp (TSXV: MLP) (OTCQB: MLPNF) announces a private placement of 11,250,000 units at $0.30 per unit, aiming to raise $3,375,000. Each unit includes one common share and half a warrant exercisable at $0.40 per share for two years. The Quaternary Group , an insider from Singapore, is participating with 10,000,000 units. Due to this creating a control position exceeding 20% ownership, shareholder approval will be sought at the AGM on February 7, 2025. The proceeds will fund the Banio Potash Project exploration and working capital. A 7% commission may apply to non-insider subscriptions.

Millennial Potash Corp reports progress on infrastructure development at its Banio Potash Project in Gabon. The Mengali Port construction, managed by Covec Gabon, will be developed in phases, starting with a 130m quay for smaller vessels and expanding to over 300m to accommodate ocean-going vessels. Additionally, a thermal power plant with initial 8.5MW capacity (expandable to 50MW) is being constructed south of Mayumba, expected to be operational by mid-2025. The power plant project, valued at approximately $125M USD, is a public-private partnership between the Gabonese government, Perenco Oil & Gas Gabon, and Gabon Power Company.

Millennial Potash Corp (TSXV: MLP, OTCQB: MLPNF) announced its participation in the 121 Mining Investment Conference in London, scheduled for November 14-15, 2024. The event will feature over 150 mining companies and 500+ investors, with pre-arranged 1-2-1 meetings. Chairman Farhad Abasov and CEO Jason Wilkinson will present on the company's recent and planned activities. The conference will also offer expert commentary and market intelligence on industry developments. Interested investors can register for a free pass.

Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) has provided an update on recent cooperation agreements between the United States and Gabon, home to its Banio Potash Project. The U.S. has welcomed Gabon's commitment to a democratic transition and plans to strengthen their partnership in economic, environmental, and security sectors. Key points include:

1. U.S. support for Gabon's democratic transition through the ADAPT initiative.
2. Plans to strengthen economic partnership and increase investment.
3. Collaboration on securing critical mineral supply chains.
4. USAID to place a full-time country manager in Libreville in 2025.
5. $2 million additional funding for biodiversity preservation.
6. Partnership on maritime security and defense cooperation.

Millennial Potash's Chair, Farhad Abasov, expressed excitement about the partnership, noting its potential to boost foreign investment and infrastructure growth in Gabon.

Millennial Potash Corp. (TSXV: MLP, OTCQB: MLPNF) reports on a recent site visit by Gabonese President Brice Oligui Nguema to the Banio Potash Project. The President reaffirmed his support for the project, initially conveyed in December 2023. MLP's Gabonese subsidiary presented a corporate overview, including recent PEA results and a potential production timeline.

President Nguema expressed full support for the project and regional development, promising close government cooperation for permitting and community development. He also endorsed infrastructure initiatives, including power station construction, national grid upgrades, a deep-water port in Mayumba, and improvements to the Mayumba-Ndindi road. Additional plans for the area include enhanced school facilities, a new university, and a modern hospital.

Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) has successfully closed a private placement of 4,000,000 units at $0.25 per unit, raising $1,000,000 in proceeds. Each unit includes one common share and one-half share purchase warrant, with 2,000,000 whole warrants exercisable at $0.35 per share for two years. No finder's fees or commissions were paid. The securities are subject to a four-month hold period until December 22, 2024.

The funds will be used to support exploration and development activities at the company's Banio Potash Project and for general working capital. This private placement strengthens Millennial Potash's financial position as it advances its potash exploration efforts.

Millennial Potash Corp. (TSXV: MLP, OTCQB: MLPNF) announces a private placement of 4,000,000 units at $0.25 per unit, totaling $1,000,000. Each unit includes one common share and one-half of a warrant, exercisable at $0.35 per share for two years. The funds will support further exploration and development of the Banio Potash Project and general working capital. The private placement will close upon TSX Venture Exchange approval after reviewing the placee's personal information form, making the placee a 10% holder and insider of Millennial Potash Corp.

Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) has closed the second and final tranche of its private placement, raising an additional $512,500. This tranche consisted of 2,050,000 units at $0.25 per unit, with each unit comprising one common share and one-half share purchase warrant. The total proceeds from both tranches amount to $1,993,500. Insiders acquired 882,000 units in the placement. Funds will be used for the Banio Potash Project exploration and development, as well as working capital. Commissions of $18,340 and 73,360 finders' warrants will be paid. All shares are subject to a four-month hold period ending November 13, 2024.

Millennial Potash Corp. (MLPNF) has secured a 70% interest in Equatorial Potash Pty. , which holds the Banio Potash Project in Gabon. This marks a 19% increase from their previous 51% stake. The company achieved this by submitting a Preliminary Economic Assessment (PEA) and making milestone payments of $300,000 and 1,000,000 shares. Key developments include a maiden Mineral Resource Estimate of 657 million tonnes of Indicated resources and 1.16 billion tonnes of Inferred resources. The PEA outlines a low-cost solution mining operation with an estimated CAPEX of $480M and OPEX of $61/tonne MOP, projecting a post-tax NPV(10) of $1.07 billion and IRR of 32.6%. Future plans involve additional drilling to expand resources.