Tag Archives: KLID

South Boulder Mines Eyes Key Feasibility Studies for Colluli Potassium Sulphate

South Boulder’s Colluli project is located in close proximity to the coast, with Hong Kong based KLID on the lookout for a binding off take agreement

By Proactive Investors,

SOUTH Boulder Mines (ASX: STB) continues to advance its Colluli Potash Project in Eritrea which is a large, high grade potassium bearing resource close to surface in an emerging potash province.

Key feasibility studies will be released in 2015 providing further detail and progression on development options.

At Colluli over 1 billion tonnes of potassium bearing salts have been defined, which are suitable for the production of potash fertilisers

It is one of only three major deposits containing kainite salt (key salt for SOP production) in solid form globally.  Continue reading South Boulder Mines Eyes Key Feasibility Studies for Colluli Potassium Sulphate

South Boulder Mines Progresses Colluli Potash with Eritrean Government Support

Very positive undeniable facts about the Colluli deposit: It is a very large resource with mine life up to 200 years; at surface deposit that is highly amenable to open pit mining methods; it is one of three projects globally to contain kainite salt; it is in close proximity to the Red Sea shipping corridor; Only 75km separates the mine site and the coastline; only 180km from the Port of Massawa – a 4 berth bulk and container terminal and the areas are mostly linked by the unsealed coastal highway; the climate and topography at Colluli and between the deposit and the coast are extremely favorable for an open pit mining Operation, solar evaporation and easy transportation.

By Proactive Investors,

SOUTH Boulder Mines (ASX:STB) continues to progress a modular and scalable approach towards developing its Colluli Potash Project in Eritrea.

The project has many draw-cards including a large resource; proximity to coast; unique mix of salts for higher value sulphate of potash (SOP); and a relationship with the government.

Indeed, the company had earlier this month extended the Pre-Feasibility Study to include recent developments that have favourable implications on capital and operating costs. Continue reading South Boulder Mines Progresses Colluli Potash with Eritrean Government Support

South Boulder Mines Secures Strategic Chinese Investor for Colluli Potash

It appears by securing KLID as an investor in the Colluli Project, the CMSC board and South Boulder now have a Chinese partner to secure an offtake agreement.

By Proactive Investors,

SOUTH Boulder Mines (ASX:STB) shares are set to trade higher after the company attracted investment from the Hong Kong based Kam Lung Investment Development Company (KLID).

The company will issue to KLID 10 million shares at $0.185 to raise A$1.8 million, which is a 13% premium to STB’s 30 day VWAP.

The importance of the placement also delivers South Boulder a strategic investor who is on the lookout for a binding offtake agreement.

South Boulder and the Eritrean National Mining Company (ENAMCO) are equal shareholders of the Colluli Mining Share Company (CMSC) which will develop the Colluli Potash project.  Continue reading South Boulder Mines Secures Strategic Chinese Investor for Colluli Potash