logo-loader
viewDanakali Ltd

Danakali “shovel-ready” at Colluli following execution of US$200m debt finance mandate

Danakali Ltd (ASX:DNK) (LON:DNK) executive chairman Seamus Cornelius updates Proactive Investors on the potash developer’s recent execution of a mandate to provide fully underwritten debt finance facilities of US$200M to fund and construct its Colluli Potash Project in Eritrea.
 
“Given that we’re in Africa, if you were to take a market that is a specialist in funding African projects then that is probably London,” says Cornelius regarding Danakali’s recent AIM-listing.
 
He continues, “getting the debt now with $200 million under the mandate letter, that helps us as well.
 
“Where we are in terms of the project is we are shovel-ready, so as soon as we secure the full funding we will start construction – the construction will take two years and then we’ll be in production [in] 2021.”

Quick facts: Danakali Ltd

Price: 0.64 AUD

ASX:DNK
Market: ASX
Market Cap: $169.98 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Danakali Ltd named herein, including the promotion by the Company of Danakali Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Danakali focused on closing project financing and kicking off construction...

Danakali Ltd (ASX:DNK, LON:DNK) CEO Niels Wage caught up with Proactive London's Andrew Scott soon after announcing they'd received credit approval for a US$200 million senior debt facility to fund construction of the Colluli Potash Project in Eritrea. He says they're continuing to assess a...

on 22/8/19

2 min read