Allana Potash fka AAA

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Anyone check out the deleted post?
Now restored. Did you note the Technical Report relating to the geology and development of the MagMinderals' proposed 1.2 million tonnes K60 product per annum, Mengo Potash Project in the Republic of Congo (the "Project"). The Technical Report updated the National Instrument 43-101 Technical Report filed on June 11, 2009 (see the Company's press release dated June 11, 2009).

This is not off topic. There are lessons to be learned here that may apply to Allana, IMO. Note who prepared the technical report for MagMinerals:http://www.mineweb.com/mineweb/content/en/mineweb-africa?oid=49853&sn=Detail

Note who prepared the technical report for Allana:
http://www.digitaljournal.com/pr/1137015

Yep, same authors.

MagMinerals got their permit in 2008.

So, what was MagMinerals next page in the play book? On March 4, 2008, its mother company, MagIndustries, entered into an agreement with a syndicate of agents co-led by Cormark Securities Inc. and Paradigm Capital Inc. and including Desjardins Securities Inc., Jennings Capital Inc. and Ambrian Securities plc, to raise approximately US$100 million in equity through a placement of shares in MagMinerals.

MagMinerals' advisors BNP Paribas have also approached a group of international lenders who are working to complete their due diligence toward the debt financing of 70% of the project costs to bring the Kouilou Potash Project into production, MagIndustries announced on Tuesday.(2008)

The company is anticipating closing the March 4 equity offering on April 3, which it says would be the first step toward providing the required 30% equity for the first phase of construction.

As it turned out,Potash "explorer" MagIndustries Corp. (TSE:MAA) s was acquired in April 2011 by Evergreen Industries, a diversified industrial holdings company in China, for C$115 million in cash.
The C$0.25 friendly takeover bid represents a 67% premium to MagIndustries' closing price prior to the transaction.

"Over a period of several years, MagIndustries has thoroughly reviewed, analyzed and assessed all the possible options for the company to finance the Mengo project and we have now come to the conclusion that the Evergreen's offer is the best available option to our shareholders and to the company," said chairman Gerard Munera.

So, about three years after they get their permit, they sell. Evergreen- that is another story. Evergreen Resources Holding (BVI) Ltd., a subsidiary of the Evergreen Industries Group ("Evergreen"), an industrial group is based in Ningbo, People's Republic of China ("China").Mr. Liang founded Evergreen in 1995 and holds the office of Chairman. In the past fifteen years, Evergreen has
developed into a large private conglomerate involved in the shipbuilding, offshore engineering, mineral resources and logistics industries. In 2004, Mr. Liang established SINOPACIFIC Shipbuilding Group Co., Ltd which includes three shipyards, an integrated design company and a technical school, and holds the office of Chairman of the company. In 2006, he established Nantong Sinopacific Offshore & Engineering Co., Ltd and holds the office of Chairman of the company.

So, they have moved forward with the Mengo development. MagIndustries is still a Canadian registered and is still quoted (TSX: MAA) but with an all-Chinese board and management following the takeover of a majority interest by Shanghai-based Evergreen Resources in 2011.

http://www.magindustries.com/cmsdocs/Annual%20General%20Meeting%202012/MagIndustries-Management-Information-Circular-2012.pdf

" It is proceeding with the development of a solution mine which it says is on one of the world’s largest undeveloped potash deposits (although it is on only a fraction of the known Congo potash horizons). The company’s immediate focus is to construct and commission a 1.2 million tonne/year potash plant to produce agricultural-grade potash fertilizers. The facility is scheduled to start production in 2015 and is expected to be among the world’s lowest-cost producers due to its highly efficient solution mining technologies, access to local natural gas and its proximity to planned new port facilities and its principal markets. They issued their final contract in July, 2013 for a fixed price of approximately USD$497 million plus a non-fixed component of approximately USD$24.5 million, as an incentive to the General Contractor for timely completion and quality of work.

http://www.4-traders.com/MAGINDUSTRIES-CORP-1410717/news/Magindustries-Corp--General-Contract-for-the-Construction-of-MagIndustries-Mengo-Potash-Project-i-17136275/

TAA traded last at 19 cents Canadian. There you have it, boys and girls. Big money, big project, low cost producer, buy it for less than 20 cents a share.

There are many lessons to be learned here. I hope you do as well with Allana. GLTA