First Tidal Acquisition Corp T.AAA

Recap

[sbergie]

Below is information on the company;
 
Analyst
12 Month Target Price
 
Wellington West
 
$1.15
Loewen, Ondaatje, McCutcheon
$1.15
Ubika Research
$1.02
Dundee Capital Markets
$1.45
Cormark Securities

.95
Salman Partners

.90
Fraser Mackenzie

.90
 
 
Highlights:
Strategic Direction-Financial De-Risking
Recent closing of private placement for $12,300,000 ( 24,300,000 shares at
.51 per Common Share) with Liberty Mining and Metals, LLC, a subsidiary of Liberty Mutual Group. Liberty will hold approximately 17 % of Allana and is a long-term investor and has committed to assisting Allana with financing when the mine construction stage is reached
Liberty will have the right to nominate one director to the board and to participate in any future equity financings to maintain its current ownership in Allana
Allana is also negotiating an Off-Take Agreement to partner with China Mineral United Management (China Mineral) to help develop its Ethiopia Potash Project
China Mineral will receive up to 20 % of potash production from a 1 M tpy operation and will responsible for 35 % of all the capital costs including solution mine and processing plant construction costs
China Mineral made a strategic investment of C$2,000,000 through private placement at
.25 CDN per share (25% premium at the time of signing)
New structure allows Allana to maintain control of the project, limit dilution, and de-risks 35 % of the Capex
 
ALLANA’S ETHIOPIAN POTASH PROJECT
POTASH PROJECTS IN OTHER REGIONS
Unique near-surface potash deposit 50-100 meters deep (Two drill holes intersect 45 meters of potash at the depth of 680 meters)
Comparable deposits are 500 to 2,000 meters deep
Amenable to open pit and solution mining
Not amenable to open pit and higher cost for solution mining
If solution mining method, solar evaporation ponds can be used resulting in significant energy costs savings–average temperature is about 40C
Expensive underground methods; solution mining uses large quantities of natural gas to evaporate water (energy accounts for over 40% of opex)
Significantly lower labor costs
High labor costs (in SK especially as in addition to developed world salaries, juniors have to compete against major potash producers attracting workers)
Fast track to production (shorter permitting)
Long permitting process (18-24 months)
Not operating in the backyard of Canpotex and no port capacity constraints
SK-Juniors will have to compete with Canpotex for logistics
 
Positive results-program expansion
•Positive drill results from holes DK-10-01,02 and 03 confirm Parsons data for upper potash portion of the Houston Formation
•Hole DK-10-04 intersects thick potash, approx. 24.8m at 8% KCl including 1.3m at 17.9% KCL in centre of basin
•Phase II will include additional 10,000 metres to focus drilling on southern central part of the basin and southern extension
•Hole DK-10-06 intersects thick potash with high grade sylvinite of 3m at 30.9% KCl
•Surface 2D seismic and down hole seismic in progress


                                                   SEE YOU AT THE END .....MINE AREN'T FOR SELL