PERTH (miningweekly.com) – ASX-listed potash hopeful Highfield Resources went into a trading halt on Thursday, with the company saying it was on the brink of a "significant" capital raising.
A definitive feasibility study into Highfield’s Muga project, in Spain, recently estimated that a capital investment of $256-million would be required to deliver 1.123-million tonnes a year of granular potash, over a mine life of 24 years.
Initial production from Muga was planned for the second quarter of 2017, with full production targeted for January 2019.
Highfield was expected to resume trading on May 11.