Mentioned:
Potash is an essential mineral for global food security. But, is the next major potash discovery hiding in West Africa?
What’s happening:
- Millennial Potash (TSXV: MLP) is officially preparing to begin their next phase of drilling at their Banio Potash Project located in Gabon, West Africa
By the numbers:
- Millennial Potash will explore two drill holes totalling roughly 1,100 metres
- Millennial Potash will expand drilling at their first drill hole BA-001 by an additional 400 metres
- Their second drill hole BA-004 is located approximately 4 kilometres east of BA-001
Why it matters:
- The Banio Potash Project is located within the historic West Africa Potash Basin which has previously produced multiple large scale potash deposits and is also in close geographic proximity to nations who important large quantities of potash including China, Brazil and India
Going deeper:
- Millennial Potash also just recently raised $4.9M CAD in an equity financing round to fund further exploration and drilling
The intrigue:
- The founding team of Millennial Potash previously started Allana Potash and Potash One, which were both ultimately acquired in multi hundred million dollar deals
