buying up bargains...
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agreed, IMC/DUNDEE/S.K BANK didn't likely feel comfy doing a huge deal with an amateur on board, they likely gave him some $$$ on the way out
that is my guess... i think this is likely a very positive development
Month long trend has been positive....looking great!
nice volume today!
??? obviously not... they still have to close on the $$$
no problem, i haven't been very active lately but when i saw a deliberate distortion of the facts, despite you attempting to educate, i had to dig that little item up
Its irrelevant to the point you are trying to make because you are ??????, because it seemed to me that it was the exact opposite of what you are your friends were saying?
You are wrong:
From the SEC WEBSITE, I put in bold the situation most shareholders hold shares in:
Holding Your Securities—
Get the Facts
As an individual investor, you have up to three choices when it comes to holding your securities:
Physical Certificate — The security is registered in your name on the issuer's books, and you receive an actual, hard copy stock or bond certificate representing your ownership of the security.
"Street Name" Registration — The security is registered in the name of your brokerage firm on the issuer's books, and your brokerage firm holds the security for you in "book-entry" form. "Book-entry" simply means that you do not receive a certificate. Instead, your broker keeps a record in its books that you own that particular security.
"Direct" Registration — The security is registered in your name on the issuer's books, and either the company or its transfer agent holds the security for you in book-entry form. The "Direct Registration System" (also known as "DRS") allows investors to transfer securities held this way. For more information about DRS, please see our Frequently Asked Questions below.
Street Name Registration
You may have your security registered in street name and held in your account at your broker-dealer. Many brokerage firms will automatically put your securities into street name unless you give them specific instructions to the contrary. Under street name registration, your firm will keep records showing you as the real or "beneficial" owner, but you will not be listed directly on the issuer's books. Instead, your brokerage firm (or some other nominee) will appear as the owner on the issuer's books.
While you will not receive a certificate, your firm will send to you, at least four times a year, an account statement that lists all your securities at the broker-dealer. Your broker-dealer will also credit your account with your dividend and interest payments and will provide you with consolidated tax information. Your broker-dealer will send you issuer mailings such as annual reports and proxies.
The advantages of letting your brokerage firm hold your securities in "street name" include:
Because your securities are already with your broker, you can place limit orders that direct your broker to sell a security at a specific price.
Your brokerage firm is responsible for safeguarding your securities certificates so you don't have to worry about your securities certificates being lost or stolen.
Your brokerage firm may keep you informed of important developments, such as tender offers or when bonds are called.
It is easier to set up a margin account.
The disadvantages include:
You may experience a slight delay in receiving your dividend and interest payments from your brokerage firm. For example, some firms only pass along these payments to investors on a weekly, bi-weekly, or monthly basis.
Since your name is not on the books of the company, the company will not mail important corporate communications directly to you.
http://www.sec.gov/investor/pubs/holdsec.htm
NICE!!!!
when will raoul cease his neverending pumping here?
awesome, lets start the bidding at 10 bucks per share
that is your fantasy
Tungsten Demand to Rise in 2013 [02-19-13 11:40 AM]
http://www.bnn.ca/Shows/Commodities.aspx
WOF mentioned..~
thanks to spark
very nice! being the world's largest tungsten mine is a really nice thing...
fantastic piece, thanks for posting that
Tungsten APT in Europe is being reported at higher prices, in the range of $325-340/mtu as opposed to the recent $305-325/mtu range.
by a poster who just created an account
you predict less than cash on hand per share? interesting..
that doesn't fit his narrative
fantastic news here today...
they were as conservative as can be at every level and it still comes out extremely positive... upside potential is amazing even above and beyond the number is this very positive study
Allana Potash Announces Positive Feasibility Study at Its Danakhil Potash Project
Print
Alert
Adastra (TSX:AAA)
Intraday Stock Chart
Today : Monday 4 February 2013
Allana Potash Corp. (TSX:AAA) (OTCQX:ALLRF)
-- After-tax Net Present Value of US $1.32 billion, based on lower price
expectations in current potash markets
-- After-tax Internal Rate of Return of 33%
-- Production capital expenditures including mining and processing
facilities ("Production CAPEX") of US$579 million
-- Port and logistics infrastructure ("Infrastructure CAPEX") of US $63
million
-- Total CAPEX Contingencies of US$64 million included in the Production
and Infrastructure CAPEX estimates
-- Total production operating expenditures ("Production OPEX") of
US$69.25/tonne
-- Total transportation expenditures ("Transportation OPEX") (including
transportation/handling, port, loading costs) FOB on Vessel of
US$29.50/tonne
-- Based on Annual Production of one million tonnes of MOP per year using
solution mining from Proven and Probable Sylvinite Mineral Reserves only
-- Significant Carnallitite or Kainitite resources not included in the
production plans in this Feasibility Study
Allana Potash Corp. ("Allana" or the "Company") announces the results of a positive independent Feasibility Study ("FS") prepared by Ercosplan Ingenieurgesellschaft Geotechnik und Bergbau ("ERCOSPLAN") on its Danakhil Potash Project in Ethiopia (the "Project"). Allana's Board of Directors is pleased to congratulate the people and government of the Federal Democratic Republic of Ethiopia on the receipt by Allana of the first NI 43-101-compliant feasibility study on a potash resource in Ethiopia's Danakhil potash basin that defines one of the few economically viable greenfield potash projects in the world.
The FS is based on commercial operations that produce one million tonnes per year ("MTPY") of a standard grade Muriate of Potash ("MOP") product over an initial estimated operating life of approximately 25 years from Sylvinite Reserves at Allana's Danakhil Project in Ethiopia. The FS yielded, on an unlevered basis, an after-tax Internal Rate of Return ("IRR") of 33 % and an after-tax Net Present Value ("NPV") of US$ 1.32 billion based on a 10% discount rate.
Farhad Abasov, President and CEO of Allana commented: "Allana is extremely pleased with the very positive Feasibility Study of its Danakhil Potash Project, as prepared by ERCOSPLAN. Even with current potash market realities driving the lower potash price forecast of USD $430/tonne used in the FS, the favourable total production CAPEX of about US$579 million and port and transport CAPEX of US$63 million, make this project one of the lowest cost and potentially highest return greenfield potash projects worldwide. Similarly, the very competitive production OPEX at US$69.25/tonne, within a total, loaded-on-ship, OPEX of US$98.75/tonne FOB, is one of the lowest among greenfield potash projects currently under development."
Mr. Abasov added, "ERCOSPLAN modeled the production of one million tonnes of MOP from just the Sylvinite Zone on the project, excluding future potential production from the extensive Carnallite and sulphate-based Kainite resources. The FS's extremely positive results give Allana great confidence in advancing its project to development and securing project finance and offtake."
The key economic highlights of the FS are outlined in the table below (all dollar amounts are stated in US$):
----------------------------------------------------------------------------
After-tax NPV@10% $1.32billion
----------------------------------------------------------------------------
After-tax IRR (based on 35% income tax rate) 33%
----------------------------------------------------------------------------
Estimated Total Capital Expenditures (including
production, port and logistics and contingency) $642 million
----------------------------------------------------------------------------
Estimated Total Operating Expenditures (Production,
transportation, port, FOB on vessel) $98.75/tonne MOP
----------------------------------------------------------------------------
Payback period 3.1 years
----------------------------------------------------------------------------
Total MOP product from Proven and Probable Sylvinite
Reserves, 23.7 million tonnes
----------------------------------------------------------------------------
For the purpose of the FS, capital expenditures (CAPEX) were estimated for three main categories: Production using solution mining, solar evaporation and flotation (Production); Transportation and handling of product between the production site and the port (Transportation/Handling); and Port facilities in Djibouti (Port).
The Production CAPEX includes costs associated with cavern development, the solar evaporation ponds, brine processing, and infrastructure including power. Solar evaporation of the saturated brine solution is possible at the Danakhil Project due to the year-round hot temperatures averaging 34 degrees C daylong with very little rainfall. Salts harvested from the ponds will be processed by standard flotation to create an MOP product of a standard grade sufficient for direct application as fertilizer or as feedstock for processed or blended fertilizers.
Transportation CAPEX costs are based on a company owned fleet of trucks and all support, such as maintenance. Port CAPEX costs are based on Allana constructing its own storage facility and conveyor system at the new port of Tadjourah in Djibouti. The main portion of the port, primarily the quay, ship loader and associated infrastructure, is commencing construction and will be completed by the Djibouti Port Authority. The table below outlines the estimated capital expenditures in US$ (2013$) for all categories, including indirects and allocated contingencies.
----------------------------------------------------------
Total Estimated CAPEX $642 million
----------------------------------------------------------
Estimated Production CAPEX $579 million
----------------------------------------------------------
Estimated Transportation/Handling CAPEX $29 million
----------------------------------------------------------
Estimated Port CAPEX $34 million
----------------------------------------------------------
Estimated operating expenditures (OPEX) were also calculated for Production, Transportation/Handling, and Port. The OPEX costs in US$ per tonne (2013$), including G&A and contingencies, are outlined in the table below:
-----------------------------------------------------------
Total Estimated OPEX $98.75/tonne
-----------------------------------------------------------
Estimated Production OPEX $69.25/tonne
-----------------------------------------------------------
Estimated Transportation/Handling/Port OPEX $29.50/tonne
-----------------------------------------------------------
Estimated sustaining capital during operations is estimated at US$ 24.3 million (2013$) per year once operations reach steady state full production at 1 MTPY.
The economic analysis performed in the FS was based on the following assumptions:
Production: One million tonnes MOP per year from Sylvinite, with first
product in 2015, and bulk shipments ramping up from 2016 to
full 1 MTPY production rate by the end of 2017
Mine life: 25 years, based on currently defined reserves of Sylvinite
only
Mining method: Solution mining
Processing: Solar evaporation and flotation
Transport: Trucking to Djibouti
Power: Power generation with fuel oil shipped to site
Potash Price: US$430 per tonne (2013$)
Underlying NSR: 1.5% (after partial buyout of royalty)
The economic analysis also included government tax and levies based on current Ethiopian published legislation and regulation, assuming:
Government Royalties: 4% on revenue
Government free carried interest: 5%
Corporate taxes: 35%
The FS estimates include all infrastructure required to operate a potash solution mine and to bring the product to market including cavern and wellfield installation, three stage processing plant, product storage facilities, load out, trucking fleet and port storage facilities with all necessary infrastructure.
Summary of Mineral Reserve and Resource Estimates Update
The Company also announces that as a result of the proposed mine plan and favourable economic results developed in the FS, portions of the previously reported measured and indicated sylvinite mineral resource estimates have been upgraded to proven and probable sylvinite mineral reserves. Estimates of the updated mineral reserves and mineral resources were completed by ERCOSPLAN based on a Radius of Influence (ROI) as per industry standards. The following Tables outline the current estimated sylvinite mineral resources and proven and probable sylvinite mineral reserves. All Measured and Indicated Sylvinite Resources were converted to Reserves.
Summary of Mineral Resource Estimates effective as of February 2, 2013
-----------------------------------------------
RESOURCES TONNES (MT) KCL (%) KCL (MT)
(in-situ)
-----------------------------------------------
Measured 115.31 27.8 32.0
-----------------------------------------------
Indicated 212.11 28.6 60.7
-----------------------------------------------
Inferred 90.76 27.8 25.2
-----------------------------------------------
(i)ROI for measured, indicated and inferred Sylvinite mineral resource estimates are 350 metres, 750 metres and 1500 metres respectively. Cut-off grade is 15% KCl, minimum width is 1.5 metres, density average 2.15
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category
Summary of Mineral Reserve Estimates effective as of February 2, 2013.
----------------------------------------------------------
MINEABLE TONNES
RESERVES (MT)(ii) KCL (%) MOP (M TONNES)
----------------------------------------------------------
Proven 32.97 28.0 8.2
----------------------------------------------------------
Probable 60.81 28.8 15.5
----------------------------------------------------------
TOTAL 23.7
----------------------------------------------------------
(ii) Accounts for losses in the caverns as well as in pillar material between caverns.
(i)ROI for Proven and Probable Sylvinite Mineral Reserves are 350 metres and 750 respectively. Cut-off grade is 15% KCl, minimum width is 1.5 metres, density average 2.15, potash price of $430/tonne and other key assumptions listed above. The estimates of mineral reserves may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The Proven and Probable Reserves from Sylvinite zone alone are adequate to support production of 1 million tonnes per year of MOP for approximately 25 years. Pilot testwork continues on site as a second solution mining well is currently leaching the Upper Carnallitite unit to provide data on the production of MOP from a Carnallite-rich brine. The results of this study will be used for potential increase in production tonnage in the future.
The FS, with a cost estimate accuracy of +/- 15%, was completed by ERCOSPLAN, a widely recognized world leader in potash exploration techniques and potash mining and processing. In addition to Allana, ERCOSPLAN's clients include some of the largest potash exploration companies and potash producers in the world. An NI 43-101 technical report with respect to the FS (the "FS Technical Report") and the mineral resource and reserve estimates forming the basis of the FS report will be available under the Company's profile on SEDAR and Allana's website within 45 days of this news release.
The Feasibility Study and the mineral resource and reserve estimates were completed by ERCOSPLAN under the supervision of Dr. Henry Rauche, Ph.D., EurGeol, Managing Director, CEO ERCOSPLAN and Dr. Sebastiaan van der Klauw, Ph.D., EurGeol., Consulting Geologist, ERCOSPLAN who are both independent Qualified Persons for the purposes of National Instrument 43-101. Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is the Company's designated Qualified Person for the purposes of the Feasibility Study and has reviewed and approved the technical information presented in this release.
An Investor conference call and webcast to review the FS results will be held at 3:00 p.m. (EST) today, Monday, February 4, 2013. To participate on the call please dial:
Participant Dial-In Numbers:
TOLL-FREE (North America) 1-888-395-3227
TOLL-FREE INTERNATIONAL 1-719-325-2484
Replay Dial-In Numbers:
TOLL-FREE (North America) 1-877-870-5176
TOLL-FREE INTERNATIONAL 1-858-384-5517
Replay Pin Number: 3946278
(The replay will be available starting at 6:00 p.m. EST today, and archived on www.allanapotash.com for ninety days thereafter).
To view the slide deck during the webcast, please register at:
Webcast Presentation Link:https://viavid.webcasts.com/starthere.jsp?ei=1013058
Please register at least 10 minutes prior to the 3:00 p.m. start. A Q&A session will follow the presentation.
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia. Allana has secured financial support from two significant strategic investors: IFC, a member of World Bank Group, and Liberty Metals and Mining, a member of Liberty Mutual Group. Allana has measured and indicated Sylvinite resources as at February 2, 2013 of 327.42 million tonnes of 28.31% KCl; and inferred Sylvinite resource of 90.76 million tonnes grading 27.80% KCl, as outlined in this press release. In addition, the Danakhil Projects hosts measured and indicated Kainitite resources of 701.55 million tonnes at 20.26% KCl, inferred Kainitite resource of 373.71 million tonnes of 20.35% KCl; measured and indicated Upper Carnallitite resources of 78.5 million tonnes grading 18.4% KCl, inferred Upper Carnallitite resource of 155.53 million tonnes of 16.95% KCl; measured and indicated Lower Carnallitite resources of 269.10 million tonnes of 10.86% KCl, inferred Lower Carnallitite resource of 130.7 million tonnes grading 11.7% KCl. The foregoing mineral resource estimates with respect to Kainitite and Carnallitite are as at April 27, 2012. For more information with respect to the data verification procedures undertaken and the key assumptions, parameters and risks associated with the foregoing estimates refer to Allana's Technical Report entitled "Updated Resource Report for the Danakhil Potash Deposit, Afar State/Ethiopia" dated June 13, 2012, effective April 30, 2012 filed at www.sedar.com. And the FS Technical Report to be filed on SEDAR within 45 days from the date of this release. Allana has approximately 275.9 million shares outstanding. Allana trades on the Toronto Stock Exchange under the symbol "AAA".
Cautionary Notes
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the results of the feasibility study, next steps for the property, progress in development of the property, projected capital and operating expenses, anticipated production schedule, the size and quality of the company's mineral resources and reserves, progress in development of mineral properties, future capital and operating expenses, capital and operating production costs, future potash prices and treatment charges, the financial results of the company the future financial or operating performance of the Company, the prospective mineralization of the properties and planned exploration programs., the issue of permits, future production and sales volumes, capital and production costs, demand and market outlook for potash, planned exploration programs, anticipated production schedule and terms and the availability and likelihood of future acquisitions; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims; Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Estimates underlying the results of the feasibility study arise from engineering, geological and costing work of Ercosplan and the Company.
See the FS Technical Report, to be filed within 45 days of this news release, for a description of all relevant estimates, assumptions and parameters. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
Contacts:
Allana Potash Corp.
Richard Kelertas
Senior Vice President, Corporate Development
514 717-6256
rkelertas@allanapotash.com
NEWS>>>>>> Allana Potash Announces Positive Feasibility Study at Its Danakhil Potash Project
(TSX:AAA)
Intraday Stock Chart
Today : Monday 4 February 2013
Allana Potash Corp. (TSX:AAA) (OTCQX:ALLRF)
-- After-tax Net Present Value of US $1.32 billion, based on lower price
expectations in current potash markets
-- After-tax Internal Rate of Return of 33%
-- Production capital expenditures including mining and processing
facilities ("Production CAPEX") of US$579 million
-- Port and logistics infrastructure ("Infrastructure CAPEX") of US $63
million
-- Total CAPEX Contingencies of US$64 million included in the Production
and Infrastructure CAPEX estimates
-- Total production operating expenditures ("Production OPEX") of
US$69.25/tonne
-- Total transportation expenditures ("Transportation OPEX") (including
transportation/handling, port, loading costs) FOB on Vessel of
US$29.50/tonne
-- Based on Annual Production of one million tonnes of MOP per year using
solution mining from Proven and Probable Sylvinite Mineral Reserves only
-- Significant Carnallitite or Kainitite resources not included in the
production plans in this Feasibility Study
Allana Potash Corp. ("Allana" or the "Company") announces the results of a positive independent Feasibility Study ("FS") prepared by Ercosplan Ingenieurgesellschaft Geotechnik und Bergbau ("ERCOSPLAN") on its Danakhil Potash Project in Ethiopia (the "Project"). Allana's Board of Directors is pleased to congratulate the people and government of the Federal Democratic Republic of Ethiopia on the receipt by Allana of the first NI 43-101-compliant feasibility study on a potash resource in Ethiopia's Danakhil potash basin that defines one of the few economically viable greenfield potash projects in the world.
The FS is based on commercial operations that produce one million tonnes per year ("MTPY") of a standard grade Muriate of Potash ("MOP") product over an initial estimated operating life of approximately 25 years from Sylvinite Reserves at Allana's Danakhil Project in Ethiopia. The FS yielded, on an unlevered basis, an after-tax Internal Rate of Return ("IRR") of 33 % and an after-tax Net Present Value ("NPV") of US$ 1.32 billion based on a 10% discount rate.
Farhad Abasov, President and CEO of Allana commented: "Allana is extremely pleased with the very positive Feasibility Study of its Danakhil Potash Project, as prepared by ERCOSPLAN. Even with current potash market realities driving the lower potash price forecast of USD $430/tonne used in the FS, the favourable total production CAPEX of about US$579 million and port and transport CAPEX of US$63 million, make this project one of the lowest cost and potentially highest return greenfield potash projects worldwide. Similarly, the very competitive production OPEX at US$69.25/tonne, within a total, loaded-on-ship, OPEX of US$98.75/tonne FOB, is one of the lowest among greenfield potash projects currently under development."
Mr. Abasov added, "ERCOSPLAN modeled the production of one million tonnes of MOP from just the Sylvinite Zone on the project, excluding future potential production from the extensive Carnallite and sulphate-based Kainite resources. The FS's extremely positive results give Allana great confidence in advancing its project to development and securing project finance and offtake."
The key economic highlights of the FS are outlined in the table below (all dollar amounts are stated in US$):
----------------------------------------------------------------------------
After-tax NPV@10% $1.32billion
----------------------------------------------------------------------------
After-tax IRR (based on 35% income tax rate) 33%
----------------------------------------------------------------------------
Estimated Total Capital Expenditures (including
production, port and logistics and contingency) $642 million
----------------------------------------------------------------------------
Estimated Total Operating Expenditures (Production,
transportation, port, FOB on vessel) $98.75/tonne MOP
----------------------------------------------------------------------------
Payback period 3.1 years
----------------------------------------------------------------------------
Total MOP product from Proven and Probable Sylvinite
Reserves, 23.7 million tonnes
----------------------------------------------------------------------------
For the purpose of the FS, capital expenditures (CAPEX) were estimated for three main categories: Production using solution mining, solar evaporation and flotation (Production); Transportation and handling of product between the production site and the port (Transportation/Handling); and Port facilities in Djibouti (Port).
The Production CAPEX includes costs associated with cavern development, the solar evaporation ponds, brine processing, and infrastructure including power. Solar evaporation of the saturated brine solution is possible at the Danakhil Project due to the year-round hot temperatures averaging 34 degrees C daylong with very little rainfall. Salts harvested from the ponds will be processed by standard flotation to create an MOP product of a standard grade sufficient for direct application as fertilizer or as feedstock for processed or blended fertilizers.
Transportation CAPEX costs are based on a company owned fleet of trucks and all support, such as maintenance. Port CAPEX costs are based on Allana constructing its own storage facility and conveyor system at the new port of Tadjourah in Djibouti. The main portion of the port, primarily the quay, ship loader and associated infrastructure, is commencing construction and will be completed by the Djibouti Port Authority. The table below outlines the estimated capital expenditures in US$ (2013$) for all categories, including indirects and allocated contingencies.
----------------------------------------------------------
Total Estimated CAPEX $642 million
----------------------------------------------------------
Estimated Production CAPEX $579 million
----------------------------------------------------------
Estimated Transportation/Handling CAPEX $29 million
----------------------------------------------------------
Estimated Port CAPEX $34 million
----------------------------------------------------------
Estimated operating expenditures (OPEX) were also calculated for Production, Transportation/Handling, and Port. The OPEX costs in US$ per tonne (2013$), including G&A and contingencies, are outlined in the table below:
-----------------------------------------------------------
Total Estimated OPEX $98.75/tonne
-----------------------------------------------------------
Estimated Production OPEX $69.25/tonne
-----------------------------------------------------------
Estimated Transportation/Handling/Port OPEX $29.50/tonne
-----------------------------------------------------------
Estimated sustaining capital during operations is estimated at US$ 24.3 million (2013$) per year once operations reach steady state full production at 1 MTPY.
The economic analysis performed in the FS was based on the following assumptions:
Production: One million tonnes MOP per year from Sylvinite, with first
product in 2015, and bulk shipments ramping up from 2016 to
full 1 MTPY production rate by the end of 2017
Mine life: 25 years, based on currently defined reserves of Sylvinite
only
Mining method: Solution mining
Processing: Solar evaporation and flotation
Transport: Trucking to Djibouti
Power: Power generation with fuel oil shipped to site
Potash Price: US$430 per tonne (2013$)
Underlying NSR: 1.5% (after partial buyout of royalty)
The economic analysis also included government tax and levies based on current Ethiopian published legislation and regulation, assuming:
Government Royalties: 4% on revenue
Government free carried interest: 5%
Corporate taxes: 35%
The FS estimates include all infrastructure required to operate a potash solution mine and to bring the product to market including cavern and wellfield installation, three stage processing plant, product storage facilities, load out, trucking fleet and port storage facilities with all necessary infrastructure.
Summary of Mineral Reserve and Resource Estimates Update
The Company also announces that as a result of the proposed mine plan and favourable economic results developed in the FS, portions of the previously reported measured and indicated sylvinite mineral resource estimates have been upgraded to proven and probable sylvinite mineral reserves. Estimates of the updated mineral reserves and mineral resources were completed by ERCOSPLAN based on a Radius of Influence (ROI) as per industry standards. The following Tables outline the current estimated sylvinite mineral resources and proven and probable sylvinite mineral reserves. All Measured and Indicated Sylvinite Resources were converted to Reserves.
Summary of Mineral Resource Estimates effective as of February 2, 2013
-----------------------------------------------
RESOURCES TONNES (MT) KCL (%) KCL (MT)
(in-situ)
-----------------------------------------------
Measured 115.31 27.8 32.0
-----------------------------------------------
Indicated 212.11 28.6 60.7
-----------------------------------------------
Inferred 90.76 27.8 25.2
-----------------------------------------------
(i)ROI for measured, indicated and inferred Sylvinite mineral resource estimates are 350 metres, 750 metres and 1500 metres respectively. Cut-off grade is 15% KCl, minimum width is 1.5 metres, density average 2.15
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category
Summary of Mineral Reserve Estimates effective as of February 2, 2013.
----------------------------------------------------------
MINEABLE TONNES
RESERVES (MT)(ii) KCL (%) MOP (M TONNES)
----------------------------------------------------------
Proven 32.97 28.0 8.2
----------------------------------------------------------
Probable 60.81 28.8 15.5
----------------------------------------------------------
TOTAL 23.7
----------------------------------------------------------
(ii) Accounts for losses in the caverns as well as in pillar material between caverns.
(i)ROI for Proven and Probable Sylvinite Mineral Reserves are 350 metres and 750 respectively. Cut-off grade is 15% KCl, minimum width is 1.5 metres, density average 2.15, potash price of $430/tonne and other key assumptions listed above. The estimates of mineral reserves may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The Proven and Probable Reserves from Sylvinite zone alone are adequate to support production of 1 million tonnes per year of MOP for approximately 25 years. Pilot testwork continues on site as a second solution mining well is currently leaching the Upper Carnallitite unit to provide data on the production of MOP from a Carnallite-rich brine. The results of this study will be used for potential increase in production tonnage in the future.
The FS, with a cost estimate accuracy of +/- 15%, was completed by ERCOSPLAN, a widely recognized world leader in potash exploration techniques and potash mining and processing. In addition to Allana, ERCOSPLAN's clients include some of the largest potash exploration companies and potash producers in the world. An NI 43-101 technical report with respect to the FS (the "FS Technical Report") and the mineral resource and reserve estimates forming the basis of the FS report will be available under the Company's profile on SEDAR and Allana's website within 45 days of this news release.
The Feasibility Study and the mineral resource and reserve estimates were completed by ERCOSPLAN under the supervision of Dr. Henry Rauche, Ph.D., EurGeol, Managing Director, CEO ERCOSPLAN and Dr. Sebastiaan van der Klauw, Ph.D., EurGeol., Consulting Geologist, ERCOSPLAN who are both independent Qualified Persons for the purposes of National Instrument 43-101. Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is the Company's designated Qualified Person for the purposes of the Feasibility Study and has reviewed and approved the technical information presented in this release.
An Investor conference call and webcast to review the FS results will be held at 3:00 p.m. (EST) today, Monday, February 4, 2013. To participate on the call please dial:
Participant Dial-In Numbers:
TOLL-FREE (North America) 1-888-395-3227
TOLL-FREE INTERNATIONAL 1-719-325-2484
Replay Dial-In Numbers:
TOLL-FREE (North America) 1-877-870-5176
TOLL-FREE INTERNATIONAL 1-858-384-5517
Replay Pin Number: 3946278
(The replay will be available starting at 6:00 p.m. EST today, and archived on www.allanapotash.com for ninety days thereafter).
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About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia. Allana has secured financial support from two significant strategic investors: IFC, a member of World Bank Group, and Liberty Metals and Mining, a member of Liberty Mutual Group. Allana has measured and indicated Sylvinite resources as at February 2, 2013 of 327.42 million tonnes of 28.31% KCl; and inferred Sylvinite resource of 90.76 million tonnes grading 27.80% KCl, as outlined in this press release. In addition, the Danakhil Projects hosts measured and indicated Kainitite resources of 701.55 million tonnes at 20.26% KCl, inferred Kainitite resource of 373.71 million tonnes of 20.35% KCl; measured and indicated Upper Carnallitite resources of 78.5 million tonnes grading 18.4% KCl, inferred Upper Carnallitite resource of 155.53 million tonnes of 16.95% KCl; measured and indicated Lower Carnallitite resources of 269.10 million tonnes of 10.86% KCl, inferred Lower Carnallitite resource of 130.7 million tonnes grading 11.7% KCl. The foregoing mineral resource estimates with respect to Kainitite and Carnallitite are as at April 27, 2012. For more information with respect to the data verification procedures undertaken and the key assumptions, parameters and risks associated with the foregoing estimates refer to Allana's Technical Report entitled "Updated Resource Report for the Danakhil Potash Deposit, Afar State/Ethiopia" dated June 13, 2012, effective April 30, 2012 filed at www.sedar.com. And the FS Technical Report to be filed on SEDAR within 45 days from the date of this release. Allana has approximately 275.9 million shares outstanding. Allana trades on the Toronto Stock Exchange under the symbol "AAA".
Cautionary Notes
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the results of the feasibility study, next steps for the property, progress in development of the property, projected capital and operating expenses, anticipated production schedule, the size and quality of the company's mineral resources and reserves, progress in development of mineral properties, future capital and operating expenses, capital and operating production costs, future potash prices and treatment charges, the financial results of the company the future financial or operating performance of the Company, the prospective mineralization of the properties and planned exploration programs., the issue of permits, future production and sales volumes, capital and production costs, demand and market outlook for potash, planned exploration programs, anticipated production schedule and terms and the availability and likelihood of future acquisitions; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims; Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Estimates underlying the results of the feasibility study arise from engineering, geological and costing work of Ercosplan and the Company.
See the FS Technical Report, to be filed within 45 days of this news release, for a description of all relevant estimates, assumptions and parameters. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
Contacts:
Allana Potash Corp.
Richard Kelertas
Senior Vice President, Corporate Development
514 717-6256
rkelertas@allanapotash.com
pretty old news there...
nice volume today... if ihubbers who are long keep picking up shares like this we truly will own the entire small float
exactly.
500k aint much
the deal for IMC, which is owned by W.B.'s Berkshire is set to close any day now...
oh, well its still a nice buy..
nice buy...
i recently got an email back from the company stating the reason for the delay was simply the bank and IMC working out how their deal would work together...just details and logistics...frustrating but the deal is very solid
don't think it will be that long...
shouldn't be much longer...
good, i had to sit through hours of sickening meetings today about what we were going to do if a sick ^*($# comes into my school (where one of my kids also attends) all the while i am thinking can't we just ask the nutjobs to use rifles and shotguns and give up the handguns and assault rifles and the huge magazines... maybe we wouldn't be having all these sickening plans....
and what do they need those guns for?
1. Hunting? No. people don't use AR's and handguns for that.
2. Defend against tyranny? NO. don't make me laugh ass clowns... if they government wants to wipe us out they won't have problems with our little guns when they show up with tanks, planes and laser guide smart bombs.
uh oh... nut job fight!
whole bunch of interesting speculation going on over on the stockhouse board right now......
i didn't see the work sheet, but did anyone point out that the distributive property is a mathematical concept?
Distributive Law
The Distributive Law means that you get the same answer when you multiply a number by a group of numbers added together as when you do each multiplication separately
Example: 3 × (2 + 4) = 3×2 + 3×4
So the "3" can be "distributed" across the "2+4" into 3 times 2 and 3 times 4.
http://www.mathsisfun.com/definitions/distributive-law.html
That math especially is way behind what 8th grade kids are currently doing. Its basic arithmetic. Kids are doing that and very simple algebra in 2/3rd grade now days. In 8th grade its algebra and geometry. The Science is 7th grade stuff now, but much more simple. Today's students study the cell in depth during 7th grade, in 8th grade they move on to energy, electromagnetic waves, and lots of Chemistry. The spelling is pretty simple, kids do vocab. in almost every subject as it relates to the subject matter. The History is a bit different, more big concepts rather than memorization of specifics dates and items. There is also a lot of added geography, including cultural and religious traditions around the world. That mostly occurs in 6th grade. 8 grade is US history.
This is based on my teaching middle school in texas and florida, most states in the US are likely similar. There are also advanced classes at each grade level and subject where its much more advanced, where 'education' is 'better' you have more kids in the advanced classes, its not like its not offered in southern states, just not as many kids participate.
LMAO...nice one...