First Tidal Acquisition Corp T.AAA

From Potash Blog:

[BruBer]

Allana Potash Progressing on the Road to Ethiopia's Fertilizer 'Gold Mine'
Posted:19 Oct 2011 02:01 PM PDT
Famines in Ethiopia stretch all the way back to 1535 AD; there have been 30 recorded famines in all, with the last famine striking in 1998, when drought and war provided a double whammy.
So here we are, 11 years after the last famine subsided, looking at five companies that have invested $6.5 billion in Ethiopia’s potash industry – used in fertilizer to ramp up farmland harvest yields.
The country’s Mines Ministry provided that figure this week. Those five companies – BHP Belton World Exploration Ethiopia, G&B Central Africa Resource Ltd., NOVA Potash, Saynic Potash and TSX-listed Allana Potash – are all based in Dalol, about 1,000 kilometres from Addis Ababa.
The Ethiopian Roads Authority has awarded contracts for two roads to be built - one from Abala to Shaigubi, the other from Shaigubi to Dalol – so that these companies have easier access to the Afar, or Danakil, Depression and the potash deposits there.
Canadian investors have been paying close attention to Allana’s progress what is to be an open-mine operation, given the shallow depth of the potash deposit. The company reported late Tuesday that it had intersected three zones of strong mineralization, with Hole 28 showing 40% KCL over 2.6 metres.
“Allana continues to be encouraged by the continuity and strength of potash mineralization in the northwestern portion of the property,” President and CEO Farhad Abasov said. “This area continues to yield high grade potash in the Sylvinite and Kainitite zones, which management believes will allow Allana to upgrade mineral resources from inferred to measured and indicated categories as well as add to the inferred category.”
The announcement comes on the heels of Allana’s appearance at the Toronto Money Show this week, where the potash producer reportedly gave an interesting stage presentation, which showed that the new NI43-101 compliant report only covers 40% of the property. Measured and indicated resource at the Dalol Potash project comes in at 673 million tonnes grading 18.7% KCL and an inferred resource of 596 million tonnes grading 25% KCL.
A feasibility study has been started. Estimated delivery? 3Q 2012. And production? Near the end of 2014. Allana said Ethiopia, the oldest independent country in Africa, is a mining-friendly jurisdiction. The macroeconomic environment has been stable, experiencing double-digit growth since 2003.
Despite the recent sell-off in commodity and potash shares, Allana shares have managed to bounce back to almost $1 each – still a far cry from the 2.20+ share price seen in the first half of the year.