Millennial Potash Corp Stock Price, News & Analysis

Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) has closed the second and final tranche of its private placement, raising an additional $512,500. This tranche consisted of 2,050,000 units at $0.25 per unit, with each unit comprising one common share and one-half share purchase warrant. The total proceeds from both tranches amount to $1,993,500. Insiders acquired 882,000 units in the placement. Funds will be used for the Banio Potash Project exploration and development, as well as working capital. Commissions of $18,340 and 73,360 finders' warrants will be paid. All shares are subject to a four-month hold period ending November 13, 2024.

Millennial Potash Corp. (MLPNF) has secured a 70% interest in Equatorial Potash Pty. , which holds the Banio Potash Project in Gabon. This marks a 19% increase from their previous 51% stake. The company achieved this by submitting a Preliminary Economic Assessment (PEA) and making milestone payments of $300,000 and 1,000,000 shares. Key developments include a maiden Mineral Resource Estimate of 657 million tonnes of Indicated resources and 1.16 billion tonnes of Inferred resources. The PEA outlines a low-cost solution mining operation with an estimated CAPEX of $480M and OPEX of $61/tonne MOP, projecting a post-tax NPV(10) of $1.07 billion and IRR of 32.6%. Future plans involve additional drilling to expand resources.

Millennial Potash Corp. (TSXV: MLP, OTCQB: MLPNF) announced the closing of the first tranche of its private placement, raising $1,481,000. The placement involved 5,924,000 units at $0.25 each, with each unit comprising one common share and one-half share purchase warrant. Each whole warrant can be exercised at $0.35 per share over two years. Commissions of $25,900 and 103,600 finders' warrants (exercisable at $0.35 per share over three years) were paid. Funds will support exploration and development of the Banio Potash Project and general working capital. Shares are subject to a four-month hold expiring October 19, 2024.

Millennial Potash Corp. has filed the NI 43-101 Preliminary Economic Assessment Technical Report for its Banio Potash Project in Gabon. The report, dated June 4, 2024, was prepared by Micon International and Agapito Associates Inc. It details a solution mining operation expected to produce 800,000 tonnes per year of granular muriate of potash (MOP). The project has a capital expenditure (CAPEX) of USD $480 million and an operating expenditure (OPEX) of USD $61/tonne MOP. It forecasts a post-tax net present value (NPV) of USD $1.07 billion and an internal rate of return (IRR) of 32.6%, based on an average MOP price of USD $387/tonne over a 25-year mine life.

Millennial Potash Corp. (TSXV: MLP, OTCQB: MLPNF, FSE: X0D) has announced a private placement aiming to raise up to $2,000,000. The placement involves selling up to 8,000,000 units at a price of $0.25 per unit. Each unit includes one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.35 within 24 months. The shares issued, including those resulting from warrant exercises, will be under a four-month hold period. Commissions of 7% cash and warrants are payable on part of the private placement. The proceeds will fund exploration and development at the Banio Potash Project in Gabon and for general working capital, subject to TSX Venture Exchange approval.