Millennial Potash Corp. (TSXV: MLP | OTCQB: MLPNF | FSE: X0D) has filed the technical report “Initial Mineral Resource Estimate for the North Target of the Banio Potash Project, Mayumba Permit, Republic of Gabon” (MRE), with SEDAR, in compliance with NI 43- 101.
The technical report was completed by ERCOSPLAN and was authored by Dr. Sebastiaan van der Klauw. The Banio Project MRE provides details of the indicated mineral resource estimate of 657Mt grading 15.9% KCl, and the inferred mineral resource of 1.159Bt grading 16% KCl.
The indicated resources equate to approximately 104.6Mt of KCl and the inferred resources equate to approximately 185.3Mt of KCl.
With the filing of the report and payment of US$150,000 to the project’s underlying vendors, the company has earned 51% of Equatorial Potash, owner of the Mayumba Permit.
In addition, Millennial has granted a total of 1,624,550 RSUs and 3M PSUs under its New Equity Compensation Plan, effective 20 February 2024.
The vesting provisions of the RSUs and the PSUs are the same and are as follows:
- 50% of the number granted to the participant vest on the later of either one year from the date of grant, being today’s date, or completion of a resource calculation for the company’s Banio Potash Project in the form of an NI 43-101 technical report filed on the company’s issuer profile
- 50% of the number granted to the participant vest on the later of either one year from the date of grant, being today’s date, or completion of a preliminary economic assessment of the project in the form of an NI 43-101 technical report filed on the company’s issuer profile. All unexercised or unvested PSUs and RSUs expire three years from the date of grant. The PSUs and RSUs are subject to early cancellation or to accelerated vesting in certain circumstances none of which are currently anticipated to occur
All unexercised or unvested PSUs and RSUs will expire three years from the date of grant. The PSUs and RSUs are subject to early cancellation or to accelerated vesting in certain circumstances none of which are currently anticipated to occur.
To find out more, please visit www.millennialpotash.com
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