Highfield Resources (ASX:HFR) is continuing its quest to become a significant global potash producer from its Spanish projects and is now in an ASX trading halt regarding a significant capital raising.
The halt will last until the earlier of the announcement being made or the start of trade on Monday, 11th May 2015.
Highfield recently applied for three new Investigation Permits along strike of the potash bearing evaporite between its Vipasca and Sierra del Perdón projects in Spain's Navarra Province.
This ensures the company strategically controls the entirety of the known potash areas of the basin ensuring no competition which in turn allows for control of logistics with a much higher volume of production than Muga alone.
The company has also delivered a Scoping Study on its Sierra del Perdón Project in Spain which delivered strong project returns and a 20 year mine life.
In addition, Highfield recently completed a Scoping Study for a proposed slimes crystallisation plant at the flagship Muga Potash Project that has the potential to generate additional revenues and EBITDA.
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