The merger will create a US$36 billion global agricultural giant.
Parkway is well positioned within the fertiliser sector with its two potash and phosphate assets in Western Australia alongside its strategic investments in Lithium Australia NL (ASX:LIT) and Davenport Resources Ltd (ASX:DAV).
Two core Western Australian projects
Parkway owns the Dandaragan Trough Project, which hosts the Dinner Hill potash and phosphate deposit and it also owns the Lake Barlee Potash Brine Project.
The company aims to explore and develop Lake Barlee, a large salt lake in Western Australia, prospective for potash in brines.
The 1,800 square kilometre land holding covers the majority of Lake Barlee and field work in April showed high potassium grades in surface brine samples.
The Dinner Hill deposit within the Dandaragan Trough Project is Parkway’s most advanced asset and is located less than 200 kilometres from Perth in Western Australia.
The Indicated Resource delineated at Dinner Hill could be a supplier of phosphates and potash to the agriculture sector for many decades, with a mine life of over 40 years projected.
A feasibility study is underway targeting completion in mid-2019 after which time construction is set to begin pending a positive outcome.
Parkway owns 7.32 million shares in ASX-listed Lithium Australia representing circa 2.5% of its current issued fully paid shares.
The company also holds circa 26% in recently listed Davenport Resources through its 19.6 million shareholdings.