That includes the bidding war for Millennial Lithium, which sent share prices from $0.06 to $4.70 when it was eventually acquired by Lithium Americas for $491 million.1,2

Now, they’ve just revealed a new high-potential target, with an exploration program that is fully funded and underway.

Anyone who knew anything about mining, saw this huge win coming from a mile away. But they kept the secret to themselves.

What they saw was that Graham Harris and Farhad Abasov were sitting on massive potential in the vast high plains of Argentina with a company called Millennial Lithium Corp. It was a lithium project that had languished.

But if you’ve been following the lithium sector, you know it turned into a headline maker.

Because, in 20 months, by late 2021, the duo turned the project into a sweet payday.

One that soared from $0.06 cents a share to $4.70.

In what was a dream-like scenario, a $1.3 trillion dollar market cap company, Contemporary Amperex Technology, was stymied and outbid in its attempt to buy Millennial Lithium.

The winner, Lithium Americas Corp. (NYSE:LAC), paid top price.

That Mr. Harris and Mr. Abasov were able to maximize the opportunity came as no surprise to veteran mining investors.

After all,  Mr. Abasov was the President & CEO of Allana Potash when it sold to Israel Chemicals Ltd. for $170 million in 2015.

He was co-founder of Potash One, which was acquired by German potash giant K+S for $430 million in 2010.

And Mr. Abasov was Senior Vice President at Energy Metals Inc. when it was acquired by Uranium One for $1.8 billion in 2007.

Mr. Harris on the other hand, knows where the money is.

He’s directly raised more than $400 million in development and venture capital. And was a founder of Cap-Ex Iron Ore Ltd., as well as a founding director of M2 Cobalt Corp. that recently merged with ASX listed Jervois Mining.

Now Abasov and Harris have moved on to a new project. And as you can imagine, it’s one that merits natural resource investors’ immediate attention.

That’s because the team is focused on a critical mineral that is currently facing a massive supply crunch… a mineral for which there is no substitute.3

This team’s newest endeavor, Millennial Potash Corp. (OTC: MLPNF)(TSX-V: MLP)(OTC: MLPNF)(TSX-V: MLP), has not produced a reserve estimate yet, but historic exploration points to high concentrations of potash mineralization on site.

Like Millennial Lithium before it, it’s a project with massive potential that fell by the wayside. This time because of a dip in potash prices back in 2017.

But now that potash has spent the almost a year selling at the near record price of $562.50 a ton, this precious mineral is coming back into focus.4

Located in the mining-friendly country of Gabon, the project is already at an advanced stage of exploration.

  • The targets are defined…
  • The equipment is ready to get started…
  • And exploration is fully funded.

In fact, the company just announced the closing of financing to the tune of CDN $3.59 million. 

That means it could only be a matter of weeks to months before resource estimates are revealed.

And it couldn’t happen at a better time.

40% Of The Global Potash Resource Is In Jeopardy5

While it doesn’t command ‘safe haven’ status like gold, and isn’t making headlines like lithium, potash is one of the world’s most important minerals.

It’s the key ingredient in the 95% of fertilizers that are used to replace the vital nutrients that are depleted from soil during farming.

Over the last few decades, this has become a critical concern for the agriculture sector.  Already faced with a growing global population, over-cultivation has left traditionally rich soils unproductive. Farmers, in turn, have had to become increasingly reliant on fertilizer to replace the minerals necessary to meet expected yields.

Now, it’s important to note – fertilizer prices were already moving higher on heightened demand. But global politics, largely due to the Russia – Ukraine conflict, have further stressed the potash supply chain.

Fertilizer Production Going Forward Is A Very Open Question

Western nations responded to the recent Russian aggression with tough economic sanctions, while the European Union imposed new sanctions on Belarusian President Alexander Lukashenko, who provided support for the offensive.

That’s posed a significant challenge to agriculture across the globe, as Russia and Belarus account for more than 40% of global exports of potash.6

In turn, this has reduced global annual production to 55 million tonnes, far short of anticipated demand, which is currently calculated at 73 million tonnes.

By 2030, demand is expected to increase to 90 million tonnes as populations in developing nations continue to expand. And considering that nearly half of global food production relies on fertilizers, a shortage of this magnitude could be dire.

German fertilizer supplier K+S Aktiengesellschaft described the current state of sector as,

“The global potash supply situation remains tense.”7

Forbes laid out the impact of such a supply crunch in a recent article, stating,

“As we are approaching the most important planting season in the Northern Hemisphere, a disruption in fertilizer production and distribution will most certainly cause a global food supply shortage later this year. While people in the developed world will probably experience this as inflation, for people in many developing countries, a food shortage could be the start of a humanitarian crisis.”8

And according to Maximo Torero, chief economist for the U.N. Food and Agriculture Organization,

“If we don’t resolve the problem of fertilizer, and trade of fertilizers doesn’t continue, then we’ll have a very serious problem of [food] supply next year.”

The world needs a new reliable source of potash — and fast.

Luckily, Millennial Potash Corp. (OTC: MLPNF)(TSX-V: MLP)(OTC: MLPNF)(TSX-V: MLP) is making rapid advancements in the potash bearing Congo Basin, but strategically located in the business-friendly jurisdiction of Gabon.

A Winning Formula

The company’s Banio Potash Project is in the heart of the Congo Potash Basin, covering a large swath of land 1,244 square kilometers in size.

Gabon has an extensive history in mining metals, as well as being the fifth largest petroleum and gas producer in Africa.

As such, a number of majors, the likes of Fortescue, Eramet, Total and Shell have made significant investments in the country.

But most notably, the region is home to the high-grade Congo potash basin, where established miners have staked their claim:

  • Kore Potash, located just 70 km from the Banio project, which has indicated resources of more than a half a billion metric tons.
  • The Holle Mine, just 200 km to the southeast of Banio, which has produced 7.4 Million metric tons of potash at average concentrations of 44%.
  • And the Mengo Project, 190 km to the southeast of Banio, with an indicated resource of 21.6 Million metric tons at concentrations grading between 12-24%.

While little potash exploration has taken place on Millennial’s Banio property to date, oil exploration drilling in the 1970s to 1990s recorded numerous occurrences of potash, and spot sampling by the geological staff returned high grade results.

Then in 2017, Infinity Lithium Corporation Ltd. and its predecessor company, Plymouth Minerals Ltd. began exploration on the property with the purpose of establishing potash resource estimates. The company completed 3 core drill holes, which confirmed the presence of a large, high grade potash mineralized footprint on the Alpha Target:

BA-002 returned:

  • 9m at 29.5% KCl from 284.4m sylvinite,
  • 4m at 34.9% KCl from 281.0m sylvinite,
  • 0m at 29.7% KCl from 263.9m sylvinite,
  • 6m at 32.9% KCl from 324.6m sylvinite
  • 2m at 18.8% KCl from 409.7m, incl. 4.4m at 21.4% KCl from 409.7m carnallite, and
  • 8m at 16.1% KCl from 438.7m carnallite

BA-003 returned :

  • 7m at 30.0% KCl from 237.8m sylvinite,
  • 0m at 29.7% KCl from 264.6m sylvinite,
  • 9m at 21.2% KCl from 430.26m carnallite,
  • 8m at 16.0% KCl from 456.98m carnallite,
  • 3m at 18.2% KCl from 471.15m carnallite, and
  • 4m at 16.0% KCl from 500.61m carnallite

All in all, the JORC-compliant Inferred Mineral Resource estimate totaled 1.67 billion tons at an overall grade of 16.1% KCl.

The findings, when shown side by side to Kore Potash’s drilling results, tell a very promising story, as shown in the image below.

Unfortunately, these results were not consistent throughout the potash-bearing zones and therefore c=ould not support official mineral resource estimates. But that won’t be the case for much longer.

The company recently engaged Ercosplan, a global leader in the potash industry with  extensive experience in the Congo Basin, to complete a NI 43-101 report on the Banio Potash Project.

And right now, Millennial Potash’s (OTC: MLPNF)(TSX-V: MLP)(OTC: MLPNF)(TSX-V: MLP) exploration teams are spread out across Banio property with drill rigs, in an effort to prove out the project’s resources. This is a highly organized effort where up to 30 workers can live on site full time with catered meals and air-conditioned tents.

So far, the company has made significant progress. They’ve resampled previous drillholes, initiated construction of an access road to the next planned drill site, and have just received a new interpretation of the 2D historic seismic data on the Banio project.

3D modelling of the seismic data clearly indicates significant potash- bearing salt sequence, reaching 800 meters thick around the projects historic drill holes to the south, and 300-400 meters thick in the northern end, around drill holes BA-01, 02 & 03.

This new data will assist in planning for future drilling, and in establishing potential resource estimates.

That means Millennial Potash could be just weeks from releasing news.

Low-Cost Mining And A Direct Route To South America Offer Millennial Potash Corp. (OTC: MLPNF)(TSX-V: MLP)(OTC: MLPNF)(TSX-V: MLP) A Big Advantage

Gabon boasts several factors that allow for low production and shipping costs:

  • The country has maintained a favorable labor and regulatory environment.
  • The Banio Project is located in an area where infrastructure is plentiful. There’s no need to build roads, drill for water, or find a way to generate electricity. It’s all there, which is how workers can live in air-conditioned comfort.
  • The Banio Project has nearby barge access that can bring as many as 40,000 metric tons to a bulk carrier located right offshore.

Now that last point is critical.

You see, South America is the largest consumer of seaborne potash in the world. 

Approximately 12 Million tonnes per year are imported, mainly from Canada, Russia, and the Middle East, all which involve significant transportation costs and time.

In comparison, the West African coast is ideally located much closer to South America than these current suppliers. That translates to a significant shipping advantage over other major potash producing regions.

7 Reasons To Put Millennial Potash Corp. (OTC: MLPNF)(TSX-V: MLP)(OTC: MLPNF)(TSX-V: MLP) On Your Watchlist Now

  1. Potash Supply Crunch – Heavy demand and a tight supply have driven a metric ton of potash to record prices, nearly $600 a ton.
  2. Success Begets Success – Millennial Potash’s team has been responsible for a slew of mergers between junior explorers and major multinational miners, including the January 2022 buyout of Millennial Lithium by Lithium Americas for US $491 million.[i]
  3. Big-Game Experience – The team has a history of building successful potash and lithium exploration companies across the globe. In fact, the management team has led four major M&A transactions with the exit value of over $3B, including two major potash companies in North America and Africa.
  4. Good Neighbors – Optimism surrounding Millennial’s potash samples is well earned because Kore Potash, located just 70 km from the Banio project, has indicated resources of more than a half a billion metric tons.
  5. Prime Location – Millennial’s 100%-owned Congo Basin project is in the mining-friendly jurisdiction of Gabon, with easy access to shipping ports and well-established infrastructure.
  6. Wait For The News – The company has already engaged a global leader in the potash industry to complete a NI 43-101 compliant technical report on the Banio Project.
  7. Home Run Potential – Millennial’s spring 2023 exploration program is fully funded to the tune of more than $3.59 million.

Foresight and risk assessment are the secret to successful junior mining stock investing. Millennial’s founders have made that formula work time and time again.

That’s why now could be the right time to dig into Millennial Potash Corp. (OTC: MLPNF)(TSX-V: MLP)(OTC: MLPNF)(TSX-V: MLP)

For more current information about Millennial Potash and its Banio Project, please visit the company website, download the latest investor publication, and be sure to register your email address for future news and updates.

1https://www.barchart.com/stocks/quotes/MLNLF/interactive-chart
2 https://www.globenewswire.com/en/news-release/2022/01/25/2372828/0/en/Lithium-Americas-Completes-Acquisition-of-Millennial-Lithium.html
3 https://www.investopedia.com/financial-edge/1110/5-things-to-know-about-potash.aspx
4 https://ycharts.com/indicators/potassium_chloride_muriate_of_potash_spot_price
5 https://www.marketbeat.com/originals/global-events-could-be-a-boon-for-potash-stocks/
6 https://www.reuters.com/business/sanctions-bite-russia-fertilizer-shortage-imperils-world-food-supply-2022-03-23/
7 https://www.kpluss.com/en-us/press/ks-topics/food-security/world-potash-market/
8 https://www.forbes.com/sites/lbsbusinessstrategyreview/2022/03/24/global-supply-chains-face-disruption-following-russias-invasion-of-ukraine/?sh=6cd537112ce0
9 https://www.globenewswire.com/en/news-release/2022/01/25/2372828/0/en/Lithium-Americas-Completes-Acquisition-of-Millennial-Lithium.html

 

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