Highlights
• Preliminary Feasibility Study (PFS) for the Ohmgebirge Potash Development commenced following appointment of a specialist team of consultants to deliver key outcomes.
– Leading industry consultant, Hatch, appointed to lead the study team consisting of engineering consultants, ERCOSPLAN and K-UTEC Salt Technologies with geological support work conducted by mining consultant, Micon International Co Ltd.
– PFS team being led by Chief Operating Officer (COO) Lawrence Berthelet.
• EIA and Permitting procedure commenced with appointment of Environmental Resources Management (ERM) as Environmental Impact Assessment (EIA) Consultant and Spatial Planning Permitting Consultant and CMS lawyers as main legal consultant.
• Five-tonne bulk sample taken at 790m depth from contiguous historic Bernterode potash mine area, via existing shaft and underground infrastructure access, delivering valuable process design test work and project de-risking.
• Following an extensive evaluation process the Ohmgebirge site selection has been narrowed down to three leading zones, including one brownfield site.
• Adoption of a new Environmental, Social and Governance (ESG) Policy in line with the Company’s ongoing advancement of the Ohmgebirge Development and broader South Harz Potash Project.
• Cash balance of A$4.6M at quarter end and zero debt. Strategic partnership discussions with respect to long term investment, joint venture arrangements and/or royalty/offtake funding are ongoing.
