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Chinese Buy into Allana Potash Project
July 22, 2009 @ 2:46 pm In Potash Company News
Allana Resources [1] (CVE:AAA) annouced that they have signed an MOU with a government owned company in China to jointly develop Allana's potash project in Ethiopia. While not naming the Chinese company, the release says that the terms include a $4.5m investment to purchase just under 20% of Allana.
Farhad Abasov, Allana's president and CEO is quoted as saying:
Our future partner is one of China's largest government-owned exploration and development organizations with over 10,000 employees and dozens of projects throughout China and number of foreign countries, including Ethiopia.
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URL to article: http://potashinvestingnews.com/684-chinese-buy-into-allana-potash-project.html
URLs in this post:
[1] Allana Resources: http://potashinvestingnews.com/496-developing-world-class-potash-project-in-ethiopia.html
[2] Click here to see the full press release: http://www.marketwirecanada.com/mw/rel_ca.jsp?id=1019201
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