Millennial Potash Corp.
PEA Confirms Viabilty of a Low-Cost Potash Mine in Africa
Published: 5/13/2024
Author: FRC Analysts
Sector: Basic Materials | Industry: Other Industrial Metals & Mining
Ticker Symbols:
MLP.V - TSX 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $0.28 |
| Fair Value | CAD $1.52 |
| Risk | 5 |
| Week Range | CAD $0.14-0.50 |
| Shares O/S (M) | 58 |
| Market Cap. (M) | CAD $16 |
| Current Yield (%) | N/A |
| P/E (forward) | N/A |
| P/B | 1.6 |
- A Preliminary Economic Assessment (PEA) on the Banio potash project in Gabon, Western Africa, returned robust economics, with an AT-NPV10% of US$1.1B, and a high AT-IRR of 33%, using US$387/t granular Muriate of Potash (gMOP) vs the spot price of US$305/t. MLP is trading at just 1% of the AT-NPV10%.
- The project can be advanced to production within three to four years. We believe Banio stands out among undeveloped potash projects with its comparatively low initial CAPEX of US$480M, and OPEX of US$61/t, attributed to its amenability to solution mining.
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $0.28 |
| Fair Value | CAD $1.52 |
| Risk | 5 |
| Week Range | CAD $0.14-0.50 |
| Shares O/S (M) | 58 |
| Market Cap. (M) | CAD $16 |
| Current Yield (%) | N/A |
| P/E (forward) | N/A |
| P/B | 1.6 |
