Sign up Australia
Proactive Investors - Run By Investors For Investors

South Boulder Mines increases exploration target at Colluli after more potash hits

South Boulder Mines increases exploration target at Colluli after more potash hits


An upgrade in the exploration target to 500 - 750 million tonnes of potash ores from the initial 300 - 500 million for South Boulder Mines (ASX: STB) has come about after continued drilling success at the Colluli Potash Project in Eritrea.

The exploration target is from the surface to 100 meters depth.

Diamond drilling at Colluli has defined a 9 kilometre square area, with extensive mineralisation intersected, with the company adding it considers open in all directions.

A JORC resource is anticipated to be announced by the company in January 2011, with scoping study results around mid-year.

The drilling program aims to help define a resource and mining engineering study into an open pit mining and processing operation, with an initial starting capacity of 1.5 million tonnes of potash annually.

The study will also examine the viability of additional production of up to 3 million tonnes of potash per year.

The market has cheered this latest announcement, with the shares rallying 8% to $3.10 in morning trade.

The company is well funded with over $15 million in cash and NTA.


View full DNK profile View Profile

Danakali Ltd Timeline

Related Articles

September 26 2018
Mt Gilmore Project and the Cobalt Ridge cobalt prospect are priority focuses for the company which will present at the RIU Resources Investor Roadshow in Melbourne tomorrow.
map of project area
March 26 2018
The prospect of an IOCG deposit, similar to Olympic Dam, has ignited interest in the stock.
September 20 2018
The company is hoping to mine its graphite flake, see it turned into concentrate, then produce spherical graphite to supply Korean lithium-ion battery-makers.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use