Danakali Ltd (ASX:DNK) is preparing to outline details of an equity raising, with the ASX granting the company a trading halt to prepare.
Recently the company made the formal submission of the Colluli Potash Project Definitive Feasibility Study (DFS) to the Eritrean Ministry of Energy and Mines.
This represents the first step in the mining approvals process.
Colluli is 100% owned by the Colluli Mining Share Company, which is a 50:50 joint venture between Danakali and the Eritrean National Mining Company.
The halt will remain in place until the opening of trade on Monday 21st March 2016, or earlier if an announcement is made to the market.
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.