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Potash hopeful raises £2.25M

Morocco potash hopeful Emmerson has raised £2.25 million via a share placement at 3.75p to advance work at Khemisset, where a November 2018 scoping study highlighted promising economics. The company said in May this year global consulting firm Golder Associates had started feasibility study work.
Potash hopeful raises £2.25M Potash hopeful raises £2.25M Potash hopeful raises £2.25M Potash hopeful raises £2.25M Potash hopeful raises £2.25M

Emmerson's Hayden Locke at the recent Mining Journal Select 2019 conference in London

Staff Reporter

Emmerson shares were trading at 3.84p early today, up more than 42% since the start of 2019 but off the recent high of 6.2p reached in May.

The company's CEO Hayden Locke said the oversubscribed new share issue showed good investor support for Khemisset.

"These funds enable us to continue our strategy of rapidly advancing the project and our discussions with various potential strategic partners, without the pressure of impending short term capital requirements," Locke said.

"The second half of the year will see significant project related news flow including metallurgical test work results, an updated mineral resource estimate, various partner discussions in country, continuing offtake discussions and the delivery of the full feasibility study."