Millennial Potash Corp. reports on the development of the Banio Potash Project in southern Gabon, including mineral resource updates, NI 43-101 technical reports, exploration permits and project-study work. News also covers the company's Mayumba and Haute Banio permit areas, potash infrastructure planning, financing initiatives, offtake-related development activity and governance matters.
The company holds an 80% ownership interest in Equatorial Potash, whose Gabon subsidiary Mayumba Potasse holds the Banio project. Recurring updates focus on potash resource definition, definitive feasibility and environmental studies, land-position expansion, project development roles and operating or financial results.
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Millennial Potash Corp. (TSXV:MLP) (OTCQB:MLPNF) provides an update on its Banio Potash Project in Gabon, where it is moving forward with a new drilling program. The company is acquiring up to 100% of the project through cash, share payments, and exploration commitments. Key project activities include:
- Completion of camp rehabilitation and establishment of infrastructure.
- Clearing of a historic road to the drill site.
- Preparation of the rotary drill rig for drilling.
- Engagement of Ercosplan Ingenieurgesellschaft for exploration planning.
The Mayumba Permit covers 1,244 square kilometers and is strategically located near key potash markets, promising a significant cost advantage. As of now, shares are trading at $0.52, after a halt due to TSX Venture Exchange approval.