Davenport Resources acquire new potash licences
Davenport Resources Limited (ASX:DAV) has confirmed its acquisition of three highly prospective potash mining licences in the South Harz region, Germany.
German government agency Bodenverwrtungs-und-verwaltungs GMBH signed the required documentation to formalise the notarized certificate.
The three licences – Muhlhausen-Nohra, Ebeleben and Ohmgebirge (as seen below) are diverse and valuable. They are not subject to expiry or reporting requirements under the current German tenure system.
Adjoining Davenport’s existing exploration licences, the tenements have been extensively drilled with historic estimates dating back to the GDR era when potash was extensively mined in the South Harz region.
In total more than 100 deep drill holes combined have been sunk across the licences, which has led to the creation of an exploration database that would cost upwards of €100 million to replicate today.
It should be noted here is an early stage play and investors should seek professional financial advice if considering this stock for your portfolio.
Davenport has commenced its review of the historic potash resources, with Muhlhausen to be reviewed first due to Sylvinite mineralisation that extends into Davenport’s adjacent Kullstedt licence.
Davenport Managing Director Chris Bain commented on the recent acquisition, “The issue of the notarized certificate allows Davenport access and ownership of all historic exploration data from the licences.
“Our team in conjunction with our consultants, ERCOSPLAN, have commenced collecting and analysing the information. Our priority is to review historic resource estimates within the licence to understand the work required to bring them to JORC2012 standards.”
In light of the acquisition, Davenport now holds exploration licences and perpetual mining leases in excess of 650km2 in the South Harz.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.