CMSC owns exploration tenements spanning over 400km2 within the Danakil Depression in South East Eritrea.
Since 2010, 97 holes have been drilled identifying a resource containing more than one billion tonnes of potassium bearing salts suitable for the production of potash fertilisers.
South Boulder Mines Ltd is currently working on the Feasibility Study to support the development of the project.
South Boulder Mines Receives High Purity SOP Samples
South Boulder Mines is pleased to advise that it has received a collection of high purity sulphate of potash (SOP) samples from the Saskatchewan Research Council. The samples were generated from recently completed pilot tests which processed the Colluli potassium bearing salts to confirm the process flow design. The process combines sylvite and kainite concentrates to generate SOP in a high potassium yield, low energy input conversion reaction. The reaction occurs at ambient temperature. The samples will be used for marketing purposes for the Colluli Potash Project.
Further details may be found at Delivery of High Purity SOP Samples
South Boulder Mines to Raise up to $6m Through Placement and Partially Underwritten Rights Issue
South Boulder Mines has agreed to issue 10.974 million shares to Hong Kong and London based investors to raise $2.7m and undertake a pro-rata non-renounceable rights issue of approximately 13,400,000 new fully ordinary paid shares at $0.25 per new share. Proceeds from the fund raising will be used to complete the definitive feasibility study for the Colluli Potash Project, Build in house capability to support the development of the project, advance funding disucssions for the project, and provide working capital. All South Boulder Directors intend taking up their entitelments to the Rights Issue.
Further details may be found at Placement and Rights Issue to Raise up to $6M
South Boulder Mines Quarterly Report
South Boulder Mines is pleased to provide its quarterly report for the period ending 31st March 2015. Throughout the quarter, a positive prefeasibility study was delivered for the Colluli Potash project, a resource review was completed, a technical review committee was established and process design review completed. Optimisation testwork was also progressed, the definitive feasibility study (DFS) initiated, a second tranche of environmental baseline assessments was submitted, and hydrological and hydrogeological work to support DFS surface and groundwater modelling advanced.
Further details may be found at Quarterly Activities and CashFlow Report
Edison Research Report on South Boulder Mines
South Boulder Mines (ASX: STB) (South Boulder, STB or the Company) is pleased to announce the release of Edison Investment Research Limited’s report on the Colluli Sulphate of Potash (SOP) project. Edison is an investment intelligence firm with over 100 analysts and investment professionals. They work with leading companies, fund managers and investment banks worldwide to support capital market activities. They have offices in London, New York, Berlin, Sydney and Wellington. The report may be accessed at the following link: