The article I referred to is now not restricted to subscribers so here it is:
Africa Mining Intelligence
CONGO-B
EXPLORATION & PRODUCTION n°320 - 06/05/2014
Elemental bounces back after Dingyi fiasco
Elemental Minerals, an explorer which owns the Sintoukola potash project in Congo-B, hasn’t wasted much time since a $160 takeover bid for its business by its leading stakeholder, Dingyi Group Investment Ltd., was vetoed by the Hong Kong stock exchange. Indeed, Elemental is back on the road to find a new strategic partner. The firm’s first move was to delist from the Toronto Stock Exchange on May 1 as its shares lacked liquidity. The move means Elemental is now quoted only on the Australian Securities Exchange.
The second initiative consists of resuming exploration on the Dougou target to increase the grading of the “hangingwall seam” sylvenite resource. Last year, the junior headed by Iain Macpherson got its hands on a data base concerning all exploration and sampling operations carried out between the 1960s to the 1980s by the former French company Potasse d’Alsace. New drilling targets are to be announced in coming weeks.
As for its efforts to find a new partner, Elemental Minerals has made approaches to several companies potentially interested in its potash project. They included an African conglomerate which recently started operating in the fertilizer sector. That could well be Nigeria’s Dangote group owned by mogul Aliko Dangote which is currently building a fertilizer plant in Senegal.
K2P Price at posting:
22.0¢ Sentiment: None Disclosure: Held
