Huge resource, exceptional characteristics

Two licenses with c. 25B tonnes of potash resources

Ultra-thick carnallite seams of +/- 210m (mineable)

Scalability on a huge resource with +/- 30 years LOM


Plant and solution mining on the Atlantic coast (ex mine = FOB)

Long and expensive logistics to the port of export being avoided

Proximity to key
potash markets

Shortest shipping time to Brazilian and African markets​


Attractive CAPEX: $457m (600K tpa) 

Globally lowest FOB cash cost: $66/ton¹ (600K tpa).

Potentially down to $54/ton³ (2,4M tpa scenario)

Low sustaining CAPEX: cavern life is in excess of 20 years per well 

Food security: A Global Strategic Imperative

Increasing world population, decreasing arable land and increased diet changes

Polarized geopolitics

Robust and
compelling economics

600K tpa¹: post tax NPV(12.2, nom) $501m, post tax IRR 22.3%, average EBITDA of $139m/pa at full capacity²

2.4M tpa³: tax NPV(12.2, nom) $1.9b, post tax IRR 21.3% and an av. EBITDA of $618m pa at full capacity²

Project at pre-construction phase

$46m invested over the last 6 years to develop the project

MoUs signed for the off-take of 100% of the designated production

Detailed term sheet signed with gas supplier

12 -15 months to FID requiring c.$15m to complete FEED workstreams


Mining convention submitted; approval expected in Q4/2022

Kanga mining title received (June 2022)

ESIA Letter of Conformity (2021)

All surface rights secured by decrees (2020)

Strategically attractive to partners

Private equity groups

Strategic partners (fertiliser companies and off-takers)

Financiers (e.g., banks, debt funds)

Pre-qualified EPC-F contractors

Potash is an eco-friendly fertilizer

Potash is the lowest GHG emission fertilizer

No CO₂ or N²O release upon application

No waterways pollution

Notes: 1) As per DFS, 2) Nominal, 3) As per PFS