South Boulder Mines to detail equity participation arrangement at Colluli Potash project
Boulder Mines (ASX:STB)
is in a trading halt and will be releasing details of the outcome of ongoing
negotiations with the Eritrean government regarding participation arrangements
at the Colluli potash project.
The halt will be in place until an announcement is made or 14 May, whichever is earlier.
South Boulder is in discussions with the Eritrean National Mining Co regarding ENAMCO's equity interest in the project.
Current negotiations envisage a 50% interest share for each of ENAMCO and South Boulder.
The Colluli Potash Project hosts a total JORC resource of 1.08 billion tonnes at 17.97% KCl or 11.35% K2O for total contained potash of 194 million tonnes KCl or 123 million tonnes K2O.
A definitive feasibility study that started in April 2012 is currently underway.
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