Big picture - Why invest in Parkway Minerals NL
Parkway Minerals NL Snapshot
Potash West (ASX:PWN) is an exploration company focused on developing extensive greensand deposits in Western Australia’s Perth Basin. The Company aims to define a substantial resource base and investigate how best to recover potash, phosphate and other minerals from the greensand. A successful commercial outcome will allow the Company to become a major contributor to the fertiliser market at a time of heightened demand.
The Company listed on the ASX on 11 May 2011 following a successful and oversubscribed $6m IPO. The Company has a major land holding over one of the world’s largest known greensand deposits, with exploration licenses and applications covering an area of 2,119km2. Previous exploration indicates greensand bearing sediments are widespread for more than 150km along strike and 15km in width.
Potash West’s (ASX:PWN) Dandaragan Trough Project is focused on exploiting a very large, shallow deposit of greensand, which contains both rock phosphate and glauconite. Glauconite is a green mineral commonly containing 4-6% potash as KO as well as varying amounts of iron, aluminium and magnesium.
Studies and testwork have indicated that two projects are commercially viable:
- Production of single superphosphate, from the rock phosphate present in the greensand, and,
- Production of potash, alum, single superphosphate and Iron oxide, from the glauconite component of the greensand.
The Company has a major land holding over a globally significant deposit of greensand with exploration licenses and applications covering an area of 2,119km. ten of the twelve tenements are contiguous extending for over 100km north-south with a maximum width of over 30km. Exploration drilling has shown almost the entire tenement holding is underlain by glauconite rich sediments. Our first drilling programmes have identified sufficient resources to allow long-life operations.
Figure 1: Dandaragan Trough Project location
Potash West NL has a vertical integration plan to produce phosphate and potash products. PWN sees the Dandaragan Trough (north of Perth, Western Australia) as having fundamental cost advantages to delivery into the Asian markets, but recognizes other markets may be better served by local production. PWN has built a strong team with an expertise base in fertilisers and continues to search for synergistic opportunities to add the value of the Company’s assets.
The Company has entered into an agreement with private interests to earn into a joint venture company East Exploration, focused on developing high grade potash deposits in Germany. This potentially provides an opportunity to deliver potash products into European markets more favourably than can be achieved from the Company’s Western Australian deposits.
The Joint Venture group (East Exploration Pty Ltd [EE] and its 100% owned subsidiary, East Exploration Gmbh, [EEG]) have applied for exploration licences for potash in established potash producing areas in South Harz, Thuringia, Germany.
This is a terrific opportunity for Potash West to expand its global presence by establishing a foothold in the European potash market. This will give the Company potential to produce from areas that would not be as well serviced by production from its Dandaragan Trough project.
Figure 1: South Harz Project location
Last updated 21st June 2016.
BSc (Hons) MAusIMM, MGSA, TMS
Adrian Griffin, an Australian-trained mining professional, has had exposure to metal mining and processing worldwide during a career spanning more than three decades. A pioneer of the lateritic nickel processing industry, he has helped develop extraction technologies for a range of minerals over the years. Today, Adrian specialises in mine management and production. He is a former chief executive officer of Dwyka Diamonds Limited, an AIM- and ASX-listed diamond producer, was a founding director and executive of Washington Resources Limited and also a founding director of Empire Resources Limited, Ferrum Crescent Limited and Reedy Lagoon Corporation Limited. Moreover, Adrian was a founding director of ASX-listed Northern Minerals Limited, where he is currently a non-executive director. He is also managing director of ASX-listed Lithium Australia NL, a company focused on lithium extraction from mica ores.
BSc (Hons), MBA, FAusIMM, FAICD
Patrick McManus has a degree in mineral processing from Leeds University and an MBA from Curtin University. A mining professional for more than 30 years, his work has taken him to many sites within Australia and overseas, including Eneabba and the Murray Basin in Australia, and Madagascar, Indonesia and the United States. During that time, Patrick has worked in operational, technical and corporate roles for RioTinto, RGC Limited and Bemax Resources Limited. He was a founding director and, from January 2007 to March 2010, managing director of ASX-listed Corvette Resources Limited.
Chew Wai Chuen
Mr Chew was a financial advisor with more than 15 years of industry experience, specialising in the provision of corporate and wealth management for ultra-high net worth individuals. With experience in South East Asia capital market and extensive networks of clients based in Singapore and Malaysia, Mr Chew will provide important contributions to the Board. He has successfully worked with a number of financial institutions in Singapore such as, Standard Chartered Bank, OCBC Bank and Credit Suisse Singapore.
Mr Chew is now a Managing Partner with a financial advisory firm, providing personal investing planning and wealth management for high net worth individuals and has a good track record of investment into junior mining companies in Australia and South East Asia.
MSc, PhD (Chemical Engineering), GAICD, MSME, MCIM
Dr Natalia Streltsova is a senior executive with over 25 years’ experience in the minerals industry of which 15 years, prior to forming her own consulting business in 2014, was spent in various leadership and technical roles with major mining houses including Vale SA (formerly CVRD), BHP Billiton and WMC Resources Limited. In all of these roles, there was considerable interaction with operations to provide support as well as to identify and implement innovative projects leading to increased production and cost reduction.
Dr Streltsova has a strong background in mineral processing and metallurgy with broad international experience in project, technical and business development capacities. Dr Streltsova has previously been a director on a number of Vale subsidiary boards as well as on several collaborative industry boards. She was also a Non-Executive Director on ASX listed CopperMoly Limited.
A chartered accountant, Ms Wilton-Heald has more than 17 years’ experience within Australia and in the United Kingdom. That experience has included the auditing of the company financial statements of both ASX- and LSE-listed companies, an accounting role with an AIM-listed company in the UK specialising in the provision of collaboration technology, and involvement in the ASX listings of junior exploration companies, as well as the provision of corporate advisory and company secretarial services.
Robert van der Laan
Chief Financial Officer
Mr Van der Laan is a qualified accountant with more than 25 years’ experience in the management of financial and risk management systems of public and private companies, in the resources and engineering sectors.
Last updated 21st June 2016.
Adrian Griffin — Non-executive Chairman
Patrick McManus — Managing Director
Chew Wai Chuen — Non-executive Director
Natalia Streltsova — Non-executive Director
Potash West NL
Suite 3, 23 Belgravia Street
Belmont WA 6104
PO Box 588
Belmont WA 6984
Phone: +61 8 9479 5386
Fax: +61 8 9475 0847
LEGAL ADVISORS TO THE COMPANY
248 Oxford Street
Leederville WA 6007
Phone: +61 8 9443 2544
Fax: +61 8 9444 3808
Advanced Share Registry Services Limited
110 Stirling Highway
Nedlands WA 6009
PO Box 1156
Nedlands WA 6909
Phone: +61 8 9389 8033
Fax: +61 8 9262 3723
Ernst and Young
Ernst & Young Building
11 Mounts Bay Road
Perth WA 6000
Phone: +61 8 9429 2222
Fax: +61 8 9429 2436
Last updated 21st June 2016.