HUGE ALLANA UPDATE:
I just had a 15min discussion with the who I think was the VP of Allana (Peter MacLean?) and here's some points he made
1) Property to the eastern side currently the private company is still debating weather to keep it or not. Allana's talked with them on several occasions but doesn't look like its going to happen near term nor do we need it
2) Water holes have water exceeding what the pumps can pull, looks like water is not an issue
3) Solution mine on the south-western side looks like where the mine is going to be situated.
4) It looks like they've started experimenting with the solution mining concept and have found a way to dissolve both Sylvite and Kainite
5) Off-take Financing, Farhad is in China finalizing details next week, looks solid, I asked if it can be increased and he says that the Chinese want too but its a matter of locking in the necessary funding
6) I asked how they plan to finance the rest and he simply pointed to Liberty, said that they basically promised that they will get the debt financing done with them, and that Liberty will even go so far as to increase their existing equity position to ensure that their parent company does so.
7) seismic seems to show that the resource dips in the center, he says they may not need to go after that potash as there's more then enough in the shallower parts.
8) They plan to have a resource update by April and then go directly to feasibility studies, fast-tracking to hopefully have one done by end of year.
9) Planning to ship to the nearest town initially.
These are the main points that I remember. He seems very confident and says we can expect a news release in the next day or so.
from canucker over at stockhouse
AI
