Interview with Farhad Abasov, Director & Chairman of Millenial Potash

Recording date: 6th December 2024

Millennial Potash (TSX-V:MLP), a Canadian junior mining company, is quickly advancing its world-class Banio potash project in Gabon, West Africa. With a massive indicated and inferred resource of 1.7 billion tons from just two drill holes, the project boasts immense upside potential as it covers only 2% of the property's total area.

What sets Banio apart is its potential to become one of the world's lowest-cost potash producers. The preliminary economic assessment outlines impressive economics, with operating costs estimated at $61 per ton – significantly lower than the $90-100 per ton range of the largest producers in Canada and Russia. The project's thick, high-grade potash seams, proximity to coastal ports, and access to low-cost natural gas all contribute to its competitive cost structure.

Millennial Potash is fast-tracking Banio's development, aiming to complete a definitive feasibility study and secure environmental permitting by the end of 2025. To de-risk the project, the company is employing a dual-track approach: preparing for mine construction while simultaneously engaging potential strategic investors and acquirers. The near-term goal is to secure a significant strategic investment to fund the feasibility study, which could come from a private equity group, development finance institution, or off-taker.

The company is led by a highly experienced management team with a proven track record of successfully developing and monetizing potash and lithium assets. Chairman Farhad Abasov and the core team have worked together for 17 years, delivering impressive returns for shareholders. Their expertise in efficiently advancing projects, demonstrating value, and negotiating favorable exit transactions positions Millennial Potash for success.

Gabon's mining-friendly jurisdiction and geopolitical neutrality provide Millennial Potash with flexibility in choosing financial and strategic partners from both Western and Eastern countries. The government has shown strong support for the Banio project, with the President himself visiting the site.

As global food demand rises, driven by population growth and changing diets in developing countries, the long-term outlook for potash remains robust. Millennial Potash is well-positioned to capitalize on this opportunity with its large, low-cost asset in a stable jurisdiction. 

Learn more: https://www.cruxinvestor.com/companies/millennial-potash-corp

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