Millennial Potash Corp Stock Price, News & Analysis

Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) hosted a significant government delegation at its Banio Potash Project in southern Gabon, led by Vice President Séraphin MOUNDOUGA. The delegation, which included key ministers, received a comprehensive site tour and technical briefing featuring potash samples from drill hole BA004 and an ongoing drone LiDAR survey presentation.

The visit highlighted the project's strategic importance to Gabon's economic diversification efforts. The company is currently preparing for an upcoming Feasibility Study, with ongoing activities including exploration, local employment initiatives, and environmental compliance measures. The delegation expressed satisfaction with the project's transparency and professional management.

Millennial Potash (OTCQB:MLPNF) announces two significant developments: the U.S. Department of Interior's inclusion of potash in its 2025 Draft List of Critical Minerals and a US$3 million project development funding commitment from the U.S. International Development Finance Corporation (DFC) for its Banio Potash Project in Gabon.

The Banio Project, strategically located on Gabon's Atlantic coast, demonstrates strong economics with an after-tax NPV10% of US$1.07 billion and a 32.6% IRR. Operating costs are projected at US$61 per tonne of granular potash. Recent drilling has confirmed up to 250 meters of potash-rich horizons at the North Target.

The project's coastal location offers direct shipping routes to the U.S., Brazil, and Africa, supported by nearby infrastructure including an ongoing port construction at Mayumba and a new regional power plant.

Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) has successfully closed its private placement, raising total proceeds of CDN$9,188,880. The placement consisted of 5,928,310 units priced at $1.55 each, with each unit comprising one common share and one-half share purchase warrant.

The warrants are exercisable for two years at CDN$2.20 per share. Commissions of CDN$477,846.65 were paid for non-insider units. The Quaternary Group Ltd. acquired 1,290,323 units, now holding approximately 24.64% of outstanding shares on a non-diluted basis. Proceeds will fund exploration and development of the Banio Potash Project and working capital needs.

Millennial Potash (OTCQB: MLPNF) has announced an increase in its private placement offering from 3,870,968 units to 5,903,226 units at $1.55 per unit, raising total proceeds of $9.15 million, up from the initially planned $6 million.

Each unit consists of one common share and one-half share purchase warrant, with warrants exercisable at $2.20 per share for two years. A 7% commission may apply to portions of the placement. The funds will support exploration and development of the Banio Potash Project and working capital needs. Insider participation is expected to be below 25%, qualifying for exemption from formal valuation requirements.

Millennial Potash (OTCQB: MLPNF) has announced a private placement offering of 3,870,968 units at $1.55 per unit, aiming to raise $6 million in proceeds. Each unit consists of one common share and half of a share purchase warrant, with warrants exercisable at $2.20 per share for two years.

The placement includes significant insider participation, accounting for approximately 50% of the total offering. The proceeds will fund exploration and development of the company's Banio Potash Project and general working capital purposes. A 7% cash commission may be payable on a portion of the placement, which remains subject to TSX Venture Exchange approval.

Millennial Potash (OTCQB: MLPNF) has secured a strategic investment of up to US$3 million from the U.S. International Development Finance Corporation (DFC) for its Banio Potash Project in Gabon. The funding, provided under DFC's Project Development Program, will support a Feasibility Study for the project.

The agreement was signed in Washington D.C. with Gabon's President Brice Oligui Nguema in attendance. The investment aims to enhance food security in Africa by supporting domestic potash production for fertilizers. The company has already initiated early-stage feasibility work, including LiDAR surveys, bathymetry surveys, and geotechnical tests.

The DFC funding will be released based on milestone activities, with no interest payable. Repayment is only triggered when the company secures financing for project construction.

Millennial Potash (OTCQB: MLPNF) has announced significant drilling results from its Banio Potash Project in Gabon. Drillhole BA-004, completed to a depth of 667m, intersected over 100m of potash mineralization in the form of interbedded carnallite and halite.

The Phase 2 drill program has extended the combined strike length of known potash mineralization to approximately 8,000m. This could potentially add to the project's current resources of 657M tonnes grading 15.9% KCl (Indicated) and 1.159B tonnes grading 16% KCl (Inferred). The company plans to use these results for an updated Mineral Resource Estimate and upcoming Feasibility Study.

Millennial Potash Corp (MLPNF) has successfully completed drillhole BA-001-EXT at its Banio Potash Project in Gabon. The extended drill hole, reaching approximately 678m depth, intersected significant potash mineralization with numerous carnallitite seams within a 290m section of interbedded carnallitite and halite. The company's current Mineral Resource Estimate stands at 657M tonnes grading 15.9% KCl (Indicated) and 1.159B tonnes grading 16% KCl (Inferred). Following BA-001-EXT, drilling will continue at BA-004, located 3.7km east, to evaluate lateral extent of potash horizons. The Phase 2 drill program, expected to complete in Q2 2025, aims to potentially extend mineralization strike length to 8,000m and will be followed by an updated resource estimate to support an upcoming Feasibility Study.

Millennial Potash Corp (TSXV: MLP, OTCQB: MLPNF) announces the completion of Phase 1 of the Mangali Port project in Gabon, featuring a 130-meter quay for vessels with 3-meter draft. The port, operated by Grande Mayumba Port Company under a 30-year agreement, will soon receive equipment including gas turbines for the nearby Mayumba Power Station.

The power station, currently under construction, will initially provide 8.5 MW capacity (expandable to 50 MW) and is expected to deliver reliable energy to the region. While both infrastructure projects are independent of Millennial, their proximity to the company's Banio Potash Project is anticipated to enhance operational capabilities through improved shipping logistics and stable power supply for future mining operations.