Allana Resources (CVE:AAA) announced today that a joint venture agreement with a Chinese partner for Allana’s potash project in Ethiopia is progressing.  Also, the companies are entering into discussions to agree “enhanced” terms of the agreement.

The press release states:

[The Chinese partner] has also informed Allana’s management that it has received approval from the Chinese government to execute a definitive agreement which will outline the final terms of the partnership.

In addition, Allana is pleased to report that [the Chinese partner] has agreed to discuss enhanced deal terms with Allana in the coming weeks.

Click here for the full press release.