Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) announced plans to raise C$3.4 million to continue exploration work at its Banio project in Gabon. The funds will be raised through a private placement of 11.25 million units priced at C$0.30 per unit.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) has provided an update on the significant infrastructure progress at its Banio Potash Project in Gabon, highlighting advancements in the construction of the Mengali Port and a new thermal power plant near the town of Mayumba. These developments represent critical components of the project's support infrastructure, aiding in planned potash production and enhancing logistics and processing efficiency.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) earlier this week discussed the implications of a new strategic partnership between the United States and Gabon, which could significantly impact the company's Banio Potash Project. Chairman Farhad Abasov emphasized that this cooperation confirms Gabon's political stability and commitment to fostering foreign direct investment, addressing concerns raised after a governmental transition in 2023.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) chair Farhad Abasov told investors that the company is excited about the strengthened partnership between the US and Gabon, the site of Millennial's flagship Banio potash project. In a joint statement released by the US Department of State, the US and Gabon announced a strengthened partnership following meetings between US officials and Gabon's Transition President, Brice Clotaire Oligui Nguema.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) announced it has raised $1 million in a private placement of 4 million units priced at $0.25 each. Each unit consisted of one share and one-half of a share purchase warrant which is exercisable at $0.35 for two years from the date of issue.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) is making significant strides in the potash industry with their latest venture, the Banio project in Gabon. Potash, essential for fertilizer production, is currently facing global supply disruptions, exacerbated by sanctions on Belarus, a major producer alongside Russia.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) closed the second tranche of its private placement to fund activities at its flagship Banio potash project in Gabon. The company has now raised a total of almost $2 million with the closing of the second tranche, which raised $512,500.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) earlier this week announced that it has earned a 70% interest in its potash project in Gabon. The company started the project in March 2023 and has quickly developed it by building a camp, initiating drilling, and releasing a maiden resource estimate in January.