Millennial Reports Continuous Progress at Its Banio Potash Project
MWN-AI** Summary
Millennial Potash Corp. (TSXV: MLP) is advancing its Banio Potash Project in Gabon, reporting significant progress in various key areas. The company is currently conducting a Definitive Feasibility Study (DFS) and an Environmental and Social Impact Assessment (ESIA), both expected to be completed by the end of 2026. Additionally, Millennial is planning a drill program on its newly acquired Haute Banio exploration license, which aims to augment its existing resources.
Chair Farhad Abasov expressed satisfaction with the progress of the DFS and ESIA, emphasizing ongoing discussions regarding infrastructure development, particularly port construction near Mayumba, which will enhance transportation capabilities for potash export. The DFS, conducted by ERCOSPLAN Ingenieurgesellschaft, is focusing on critical engineering studies, while creep tests and dissolution studies are underway to evaluate mineral stability and chemistry. Geotechnical drilling is set to commence in Q2 2026.
Meanwhile, the ESIA, overseen by Artelia, is progressing with preparatory field studies scheduled for early Q2 2026. Aerial surveys have been completed, and resource expansion drilling is on the horizon, targeting areas south and east of current resources, with anticipated completion by Q3 2026.
Infrastructure options for exporting potash, including the Mangali port and a dedicated mineral bulk export port, are under evaluation to facilitate access to international markets. Millennial is also engaging with financial institutions to secure construction financing, capitalizing on growing interest in the potash and fertilizer sectors. The comprehensive efforts within the Banio Potash Project reflect an aggressive timeline toward production, highlighting Millennial’s strategic approach in the evolving commodity landscape.
MWN-AI** Analysis
Millennial Potash Corp. (TSXV: MLP) has recently reported substantial progress on its Banio Potash Project in Gabon, an initiative that could significantly impact its stock value. The ongoing Definitive Feasibility Study (DFS) and Environmental and Social Impact Assessment (ESIA) indicate a structured approach towards advancing the project. Investors should closely monitor these developments as they are indicative of Millennial’s readiness to enhance its resource base amid increasing global demand for potash.
The definitive feasibility work, managed by ERCOSPLAN, is aligning infrastructure development with drilling operations, which have the potential to add meaningful resources to current estimates. This systematic approach is critical as market volatility could influence potash pricing. Given the essential role of fertilizers in agriculture, as economies recover and food security remains a pressing issue, the demand for potash is expected to rise, thereby presenting a favorable environment for Millennial.
Moreover, the plan to enhance infrastructure, including port options for exporting potash, bodes well for the project’s logistics and overall viability. Efficient transport routes can mitigate costs and improve margins once production begins. The exploration drilling, set to start in Q2 2026, will update the mineral resource estimates by Q3 2026, a key catalyst that could excite investors when results become public.
As ongoing discussions for construction financing unfold, investors should keep an eye on the company’s ability to secure partnerships, particularly with international institutions focusing on the potash sector. Potential construction financing not only suggests confidence in the project but also could alleviate market concerns regarding funding hurdles.
Overall, Millennial Potash Corp. appears well-positioned operationally, but investors should remain vigilant about market fluctuations and the regulatory landscape in Gabon. Given these developments, maintaining a bullish outlook on MLP while closely watching financing and resource expansion updates is advisable.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
West Vancouver, British Columbia--(Newsfile Corp. - March 19, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") is pleased to report that it is making significant progress on numerous programs and initiatives at its Banio Potash Project in Gabon. The Company's Definitive Feasibility Study ("DFS"), Environmental and Social Impact Assessment ("ESIA") studies are in progress, and the Company is planning for its drill program on the newly acquired Haute Banio exploration license which it is expected will expand its current resource. In addition, the Company continues to advance infrastructure initiatives for the project including port construction near Mayumba and pursuing construction financing.
Farhad Abasov, Millennial's Chair, commented "We are very pleased with the progress made to date with the Company's DFS and ESIA studies. Both studies are well underway and remain on target to be completed by the end of 2026. We are also excited to continue with our resource drilling for the project to potentially add additional potash resources to the existing calculation for the project. Port discussions with various parties are ongoing as we seek to optimize the project's close proximity to the ocean and other local infrastructure advantages. Discussions with various financial and development institutions for construction financing are progressing as the Company is pursuing an aggressive timeline to advance the project to production."
The Company's DFS for the Banio Potash Project is being completed by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau ("ERCOSPLAN") and early stages of the DFS continue to focus on the completion of engineering and trade-off studies. Creep tests on drill core are underway to determine cavern stability as are dissolution studies, also on drill core, to determine the rate of dissolution of the carnallitite mineralization and the chemistry of the resulting brine which is required for the process design estimates. In addition, trade-off studies, including regarding cold vs. hot leaching of the carnallite, power options for any processing plant and wellfield, and optimal process plant locations, are in progress. To further support the DFS, geotechnical drilling at the proposed process facility and the proposed well field has been defined and will commence in Q2, 2026. The DFS work remains on schedule to be completed by the end of 2026.
The ESIA, under the direction of Artelia Société par Actions Simplifée ("Artelia"), is also underway with planning and preparation for field studies progressing. Field crews from Artelia are scheduled to initiate flora and fauna studies as well as water and soil sampling activities early in Q2 2026. The aerial drone-supported LiDAR survey has been completed and the bathymetric survey of the Banio lagoon and at selected locations in the ocean is in progress.
Preparation for a resource expansion drilling program south and east of the current mineral resources is underway with barge support and road construction completed to provide access to new locations. Drilling is scheduled to be completed by Q3 2026 and will support an updated mineral resource estimate to be included in the DFS.
Infrastructure initiatives have focused on port options for potash export. The Mangali port north of Mayumba, and a dedicated mineral bulk export port closer to the project, are being evaluated for transport of various products to international markets. Construction financing discussions are also in progress with numerous international institutions as interest in potash sector, and in the fertilizer sector in general, continues to attract attention in the global markets.
The technical information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P. Geo. (Ontario), Director of the Company, who is a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662 8184 or email at info@millennialpotash.com.
Keep up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.
MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan" or "planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289158
FAQ**
What is the significance of the Banio Potash Project for Millennial Potash Corp MLPNF and how does it impact their growth strategy in the global potash market?
Can you elaborate on the expected timeline for the completion of the Definitive Feasibility Study (DFS) and Environmental and Social Impact Assessment (ESIA) for Millennial Potash Corp MLPNF?
What measures are being taken by Millennial Potash Corp MLPNF to ensure environmental compliance during the drilling and infrastructure development phases in Gabon?
How is Millennial Potash Corp MLPNF approaching financing discussions to support construction efforts for the Banio Potash Project amid current global market conditions?
**MWN-AI FAQ is based on asking OpenAI questions about Millennial Potash Corp (OTC: MLPNF).
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