Note the comments on mining licence and potash consumptionNext two weeks.....
200,000 tons of potash just for the Ethiopian blending plants!!!
The application for our mining licence is being processed by the Ethiopian government and
Allana is optimistic that the granting of the Mining License will occur in the next few weeks.
• Allana is uniquely positioned to meet growing potash demand in Africa and Ethiopia proper.
Ethiopia has recently announced the tender process in relation to four NPK plants that will
require about 200,000 tonnes of potash annually.
• Allana is working diligently to reduce its cash burn rate, which has come down from its
Feasibility Study peaks and as reported as at and for the nine months ended April 30,
2013, Allana had a cash balance of over $20 million. In the event of any unanticipated
licensing or financing delays, Allana’s management believes there are sufficient cash
reserves to weather any headwinds.