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South Boulder Mines Changes Name To Danakali



South Boulder Mines Changes Name To Danakali

By CapEri

South Boulder Mines (ASX:STB) (“South Boulder” or “The Company”) announced on Tuesday that it has
changed its name to Danakali Ltd (Danakali) with immediate effect.

The change of name came after shareholders approval at the Annual General Meeting of shareholders on 29 May 2015, and receipt of a new Certificate of Registration for the Company from the Australian Securities and Investments Commission (ASIC).

Danakali is primarily focussed on developing the Colluli Potash Project in Eritrea, East Africa, in partnership with Eritrea’s National Mining Company (ENAMCO).

The miner said that the prefeasibility study for the project was completed in February 2015 and indicates an economically robust project which is underpinned by a substantial resource.

Danakali also announced that for ASX purposes, the effective date for the Company name and ASX code change will be on Thursday 4 June 2015, at which time the ASX code will change from “STB” to “DNK”.

The new company name has significance to what the Colluli Project represents both chemically and geographically. The Danakil region of East Africa is recognised as an emerging potash province, and to date over 10 billion tonnes of potassium bearing salts have been identified. Potassium is an essential plant nutrient and is chemically described by the symbol K, which comes from kalium, the Medieval Latin word for potash.

Danakali is therefore a representation of Danakil Potash and is an appropriate company name against which to define ourselves as we make the transition from explorer to developer and subsequently producer”, Managing Director Paul Donaldson said.

The definitive feasibility study for the Colluli Potash Project in Eritrea is expected to be complete by the end of Q3, 2015, according to Danakali.
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South Boulder Mines Changes Name To Danakali Reviewed by Admin on 12:04 AM Rating: 5

8 comments:

  1. Smart move! That is an appropriate name for I know that the Ethiopian side of it will also be shipped through Eritrean ports once the inept Weyane regime expires into oblivion, which should be around the corner.

    ReplyDelete
  2. Here it is, we are talking about 1.2 Billion tons of phosphate. Here is Eritrea to help feed the ever increasing population of the world. At the current demand of fertilizers in the world, the Eritrean supply is estimated to last 200 years.
    You bet Eritrea is endowed with natural resources. But her biggest endowment is here peaceful, honest, decent, hard working and creative people. That is hidden strength of Eritrea that made history in the past and is still making history.
    Stay on course Deki Ere for the Promised Land is just around the corner.

    ReplyDelete
  3. ኣሌክ - Alec youJune 4, 2015 at 10:35 AM

    Good job Eritrea!!!...

    ReplyDelete
  4. Goradew sew belaJune 4, 2015 at 12:06 PM

    NEVER...PREFERANCE IS THRU DJIBOUTI...WHY THRU ERITREAN PORTS?

    ReplyDelete
  5. WHEN ARE YOU GOING TO REACH THIS CORNER? YOU HAVE BEEN DREAMING OF THIS CORNER FOR THE LAST 24 YEARS...OK WILL WAIT FOR ANOTHER 24 TO REACH THE CORNER THE PROMISED LAND. DREAMER HID MAZEBZEB

    ReplyDelete
  6. akli waga bekli elomo abotatna eritrawyan akalat ena nkulu ka bi akli ena ntsbeyo....

    ReplyDelete
  7. Yehonk/yehonsh "jart" neger afriso kemesrat kes eyalu madeg.

    ReplyDelete
  8. Fukera mechem yenante new..wendimochih semen terara llay keru endihu endefokeru yekerutim egre awchigne bilew Addis tegegnu....now thats out of the way it becomes apparent when the Israelis start the mining and manufacturing activities the distance from where the potash is to Djibouti is not economically feasible.

    Your government hired some western consultants to assess your country's future logistics and one of the recommendation was that in the long run Ethiopians will pay a heavy economic price due to the distance of using Djibouti..so it is a matter of time and also Ethiopias economic transformation ( real one when the private investment is allowed and thriving) will force it to use Eritrea n ports...up untill then we will use them to ship metals and also "let the camels drink"

    Zeraf zeraf whoof whoof! lol

    ReplyDelete

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