DANAKALI - Numis Broker report 09/01/2020 - target 70 pence
Potash space hots up
In our view, Anglo American's potential offer for Sirius Minerals, which owns the Woodsmith project in North Yorkshire, highlights the potential for consolidation in the potash space and the demand for world-class projects, of which Colluli is one. In contrast to Woodsmith, Colluli is near surface, with lower capital intensity and produces a product for which there is an established global market and pricing mechanism. We retain a Buy recommendation for Danakali and a target price of 70p based on 0.6x NAV, with the main upcoming catalysts being finalizing the project funding package and commencing development. DNK achieved a number of key milestones in 2019, securing both project debt and a strategic investor to underpin
Danakali | 0,413 $ |
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