Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • South Boulder Mines Share Price Ticks Up 27% 0 comments
    Aug 30, 2013 1:58 AM

    South Boulder Mines' (ASX:STB) share price has climbed 27.8%, following news last quarter of a binding term sheet signed with the Eritrean National Mining Corporation and its participation in the development of the Colluli Potash Project.

    Cashed up with $14.3 million at quarter-end, the agreement is considered pivotal and a milestone in the development of the Project as it provides a basis for strategic investors to evaluate an investment.

    The key terms of the agreement are that ENAMCO and STB will each hold a 50% ownership interest in the Project through a newly formed company, Colluli Mining Share Company.

    It is envisaged that Project Development Costs for initial development will be funded 70% by debt and 30% by equity.

    A Definitive Feasibility Study continued during the quarter with studies underway into processing a mixed feed of sylvinite, carnallite and kainite, which has the potential to improve the financial returns from the Colluli Project.

    During the Quarter, the Company received assays for grade control holes and resource extension holes targeting sylvinite, carnallite and kainite mineralisation (see Figure 1). The assays returned high-grade and shallow potash mineralization.

    Drilling will wind down at the project as there is sufficient results for the Feasibility Study.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.