While higher grain prices are a positive for potash producer shares, the overall near term outlook for the sector is bleak; at least according to Goldman Sachs.
Continue reading "Goldman Predicts Tough Times Ahead for Potash"
Wednesday, July 14, 2010
It will take a change in the fundamentals of the potash market before producers will see an increase in share value. After a strong start to 2010, fertilizer consumption fizzled in the second quarter.
Continue reading "Potash Sales Fizzle in Second Quarter"
Wednesday, June 2, 2010
Potash is taking its time to jump aboard the commodity rebound. The most recent deal for potash was settled between Canpotex and China to sell the crop nutrient for $370 per tonne, just $20 per tonne more than what the crop nutrient was fetching six months ago.
Continue reading "Potash Prepping for Second Boom"
Tuesday, October 6, 2009
Allana Resources (TSX-V:AAA) has just announced that it has commissioned construction of an all-season facility at its Ethiopia Potash project. The housing will accommodate up to 20 people and will include dormitories, a kitchen and water purification equipment. Allana’s President and CEO Farhad Abasov is quoted as saying: Allana is excited to take this first step to help [...]
Continue reading "Allana Starts Construction"
Thursday, September 17, 2009
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 [...]
Continue reading "Allana Heats Up in Ethiopia"
Tuesday, July 28, 2009
Allana Resources declared the signing of a memorandum of understanding setting out the principle terms and conditions of a joint venture between Allana and one of the largest government-owned exploration and development organizations in China with respect to the financing of exploration works, feasibility study, construction of a solution mine and processing plant and production [...]
Continue reading "Allana Resources declared Potash Joint Venture"
Wednesday, July 22, 2009
Allana Resources (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 [...]
Continue reading "Chinese Buy into Allana Potash Project"
Thursday, June 4, 2009
Allana Resources (CVE:AAA) annouced today that Stephen Halabura has joined AAA’s Advisory Board. Halabura’s North Rim Exploration is a geosciences and mining engineering consulting company that has provided consulting to BHP Billiton (NYSE:BHP), Potash One (TSE:KCL), Athabasca Potash (TSE:API) and others. Allana’s President and CEO, Farhad Abasov is quoted as saying: Mr. Halabura is one of the top [...]
Continue reading "Allana Appoints Potash Veteran"
Friday, May 29, 2009
Allana Resources (CVE:AAA) announced that they have raised $2,542,149.90 million through the issuance of 18,830,740 units at a price of $0.135 per unit. Each unit also included a full warrant at $0.20.Company reports that proceeds will be used for ongoing exploration of Ethiopian Potash projects. Click here for the full press release.
Continue reading "ALLANA CLOSES $2.5 MILLION FINANCING"
Monday, May 4, 2009
Allana Resources Inc. declared that Mr. Richard J. Lacroix, P. Eng. has been appointed to the Company’s Advisory Board. Mr. Lacroix, now retired, is the former Sr. Vice-President, Technical Services for Potash Corporation of Saskatchewan and spent almost 30 years with Potash Corp. Farhad Abasov, Allana’s President and CEO, stated: We are very pleased to welcome Richard [...]
Continue reading "Allana Resources declared appointment of Vice President"
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Wednesday, July 21, 2010