TSXV:AAA.P - Post by User
Comment by
MMboon Jan 16, 2014 2:48pm
448 Views
Post# 22100353
RE:Update from AGM
RE:Update from AGMI did attend the AGM. That is correct about the AIM. They will review if they still want to proceed after they get financing.
Allana is currently in discussions and expect to get a finacing deal in the first quarter. That is the goal.
Farhad also said it may be "counter-intuitive" but the mess with world potash prices collapsing has actually lead to more interest in Allana. The reason being because our project is still lucrative even at low potash prices.
One of the reasons financing has been delayed is because Allana has received new interested parties who want to deal.
Allana is firmly looking for 3 things from a partner:
1. equity stake
2. offtake agreement
3. technical cooperation agreement
Farhad stressed they want a partner who will help them techincally get to production.
The question was asked if there was anyone interested in buying out Allana.
Farad said there has been no offers. He said they talk to Yara about once a month and Yara is still proceeding on their property.
There were about 40 people present including:
Farhad Abasov, Lewis MacKenzie, Richard Kelertas, and Mark Stauffer
Jack Scott and Jason Wilkinson are in Ethiopia. Betty-Ann Heggie also was not there.
Good presentation.