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Danakali Limited

Published : August 29th, 2016

Issue of Shares– Appendix 3B & S708A Notice

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Issue of Shares– Appendix 3B & S708A Notice

ASX Release 26 August 2016

Issue of Shares- Appendix 3B & S708A Notice

Danakali Ltd (ASX:DNK) ("Danakali" or "Company") advises that 125,000 new fully paid ordinary shares have today been allotted and issued upon the exercise of unlisted options.

A completed Appendix 3B has been lodged together with this announcement.

Secondary Trading Exemption

Danakali gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) ("Act") of the following:

  1. the shares were issued without disclosure under Part 6D 2 of the Act;

  2. this notice is being given under section 708A(5)(e) of the Act;

  3. as at the date of this notice, the Company has complied with:

  4. the provisions of Chapter 2M of the Act as they apply to the Company; and

  5. section 674 of the Act; and

  6. as at the date of this notice, there is no information:

  7. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  8. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

  9. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  10. the rights and liabilities attaching to the shares.

  11. Shareholders can view all of Danakali's announcements on the ASX website (www.asx.com.au) and Danakali's website (www.danakali.com).

    For more information, please contact: For Media and Broker Enquiries:

    Paul Donaldson Michael Cairnduff

    Managing Director Cannings Purple

    +61 8 6315 1444 +61 400 466 226

    About Danakali Limited

    Danakali is an ASX listed company and 50% owner of the Colluli Potash Project in Eritrea, East Africa. The company is currently developing the Colluli Project in partnership with ENAMCO. Colluli is 100% owned by CMSC, which is a 50:50 joint venture between Danakali and ENAMCO.

    The project is located in the Danakil Depression region of Eritrea, and is c. 75km from the Red Sea coast, making it one of the most accessible potash deposits globally. Mineralisation within the Colluli resource commences at just 16m, making it the world's shallowest potash deposit. The resource is amenable to open pit mining, which allows higher overall resource recovery to be achieved, is generally safer than underground mining and is highly advantageous for modular growth.

    In November 2015, Danakali released a positive DFS for Colluli which demonstrates industry leading capital intensity and the lowest development costs relative to all SOP projects at DFS level in the world. Bottom quartile operating costs are predicted and mine life is estimated at over 200 years at the DFS production rate, providing the project with substantial growth potential.

    SOP is a chloride free, specialty fertiliser which carries a substantial price premium relative to the more common potash type; potassium chloride. Economic resources for production of SOP are geologically scarce. The unique composition of the Colluli resource favours low energy input, high potassium yield conversion to SOP using commercially proven technology. One of the key advantages of the resource is that the salts are present in solid form (in contrast with production of SOP from brines) which reduces infrastructure costs and substantially reduces the time required to achieve full production capacity.

    The potassium bearing resource of the Danakil Depression has the unique capability to produce three of the four potash types in the global potash market which comprises potassium chloride (muriate of potash or MOP), potassium sulphate (sulphate of potash or SOP), potassium magnesium sulphate (sulphate of potash magnesia or SOP-M) and potassium nitrate (nitrate of potash or NOP). While CMSC is concentrating on achieving SOP production in the near-term, the focus is on developing a multi agri-commodity and salt business in the medium term.

    The resource is favourably positioned to supply the world's fastest growing markets.

    Our vision is to bring the Colluli project into production using the principles of risk management, resource utilisation and modularity, using the starting module as a growth platform to develop the resource to its full potential.

    Mineral Resource Statements

    The 2015 Colluli Potash Mineral Resource is reported according to the JORC Code and estimated at 1,289Mt @11% K2O Equiv. The Mineral Resource is classed as 303Mt @ 11% K2O Equiv Measured, 951Mt @ 11% K2O Equiv Indicated and 35Mt @ 10% K2O Equiv Inferred. The Competent Person for this estimate is Mr. Stephen Halabura, M. Sc., P. Geo., Fellow of Engineers Canada (Hon), Fellow of Geoscientists Canada, and a geologist with over 25 years' experience in the potash mining industry. Mr. Halabura is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan, a Recognised Professional Organisation (RPO) under the JORC Code and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code.

    The 2015 Colluli Rock Salt Mineral Resource is reported according to the JORC Code and estimated at 347Mt @96.9% NaCl. The Mineral Resource is classed as 28Mt @ 97.2% NaCl Measured, 180Mt @ 96.6% NaCl Indicated and 139Mt @ 97.2% NaCl Inferred. The Competent Person for this estimate is Mr. John Tyrrell, a geologist with more than 25 years' experience in the field of Mineral Resource estimation. Mr Tyrrell is a member of the AusIMM, is a full time employee of AMC Consultants Pty Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code.

    Mr. Tyrell & Mr. Halabura consent to the inclusion of information relating to the Mineral Resource Statements in the form and context in which they appear.

    Ore Reserve Statement

    The November 2015 Colluli Ore Reserve is reported according to the JORC Code and estimated at 1,113Mt @10% K2O Equiv. The Ore Reserve is classed as 286Mt @ 11% K2O Equiv Proved and 827Mt @ 10% K2O Equiv Probable. The Competent Person for the estimate is Mr Mark Chesher, a mining engineer with more than 30 years' experience in the mining industry. Mr. Chesher is a Fellow of the AusIMM, a Chartered Professional, a full-time employee of AMC Consultants Pty Ltd, and has sufficient open pit mining activity experience relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the JORC Code. Mr Chesher consents to the inclusion of information relating to the Ore Reserve in the form and context in which it appears.

    In reporting the Mineral Resources and Ore Reserves referred to in this public release, AMC Consultants Pty Ltd acted as an independent party, has no interest in the outcome of the Colluli Project and has no business relationship with Danakali Ltd other than undertaking those individual technical consulting assignments as engaged, and being paid according to standard per diem rates with reimbursement for out-of-pocket expenses. Therefore, AMC Consultants Pty Ltd and the Competent Persons believe that there is no conflict of interest in undertaking the assignments which are the subject of the statements.

    Appendix 3B New issue announcement

    Appendix 3B

    Rule 2.7, 3.10.3, 3.10.4, 3.10.5

    New issue announcement, application for quotation of additional securities

    and agreement

    Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

    Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

    Name of entity

    DANAKALI LTD

    ABN

    56 097 904 302

    We (the entity) give ASX the following information.

    Part 1 - All issues

    You must complete the relevant sections (attach sheets if there is not enough space).

    1.Fully paid ordinary shares

    1 +Class of +securities issued or to be issued

    1. 125,000

  12. Number of +securities issued or to be issued (if known) or maximum number which may be issued

    1. Fully paid ordinary shares

  13. Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid

    +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

    + See chapter 19 for defined terms.

    04/03/2013 Appendix 3B Page 1

    Appendix 3B

    New issue announcement

    1. Yes - fully paid ordinary shares

  14. Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted

    +securities?

    If the additional +securities do not rank equally, please state:

    • the date from which they do

    • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

    • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

      1. The shares were issued on exercise of options with an exercise price of $0.35 each.

  15. Issue price or consideration

    1. Exercise of unlisted options (Exercise price $0.35, expiring 30 March 2018).

  16. Purpose of the issue

  17. (If issued as consideration for the acquisition of assets, clearly identify those assets)

    No

    6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

    If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

    N/A

    6b The date the security holder resolution under rule 7.1A was passed

    N/A

    6c Number of +securities issued without security holder approval under rule 7.1

    N/A

    6d Number of +securities issued with security holder approval under rule 7.1A

    + See chapter 19 for defined terms.

    Appendix 3B Page 2 04/03/2013

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Canada | Eritrea | Georgia | All
Gold and Silver Prices for these countries : Canada | Eritrea | Georgia | All

Danakali Limited

CODE : DNK.AX
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Danakali LTD is based in Australia.

Danakali LTD is listed in Australia. Its market capitalisation is AU$ 65.6 millions as of today (US$ 47.3 millions, € 41.5 millions).

Its stock quote reached its highest recent level on March 04, 2011 at AU$ 5.72, and its lowest recent point on June 27, 2014 at AU$ 0.15.

Danakali LTD has 226 150 000 shares outstanding.

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8/29/2016Issue of Shares– Appendix 3B & S708A Notice
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