HFR - Highfield Resources

[System]

Highfield Resources Limited (HFR) is an Australian based company with the primary objective of establishing itself as a premium potash exploration and discovery company.

The Company has secured an agreement to explore three Western Australian tenements
for potash, with potash already having been identified in a petroleum well drilled within
the tenement package. Importantly, exploration licenses have been granted for these
tenements and two compelling drill targets have been identified. Drilling is planned to
commence mid 2012.

http://www.highfieldresources.com.au

 

[springhill]

The potash in Spain falls mainly on the plain.
HFR announce (subject to shareholder approval) moving into Espanol.

ACQUISITION OF SIGNIFICANT ASSET IN POTASH PRODUCING BASIN
http://www.asx.com.au/asxpdf/20120627/pdf/42722tydbhtrhr.pdf

HIGHLIGHTS
• Agreement (subject to due diligence, ASX and shareholder approval) to purchase 100% of the Navarra Potash Project located in Northern Spain.
• Granted tenements comprise 430kms2 of highly prospective ground within a potash producing basin and include a former operating mine.
• All necessary infrastructure in place for potentially globally competitive potash extraction.
• Existing experienced in country management team.
• Distinguished industry professional, Derek Carter, to join Highfield’s Board.
• 100% scrip transaction with no cash payment and performance shares linked to value adding milestones.

The tenements in the Navarra Sub-basin cover the Subiza Mine which was a significant potash producer in Spain between 1977 and 1996. In its latter years of operation the mine was producing around 200,000 tonnes of potash per annum. The mine was closed in 1997 when potash prices were US$110 per tonne. Potash prices are presently around US$470 per tonne.

McLarty Potash Project

Key project is the Company’s McLarty Potash Project located in the Kimberley region of Western Australia.
The Company has a farm in agreement to secure up to 80% of the McLarty Potash Project.

Positive Signs from Previous Exploration
*Tenement package is ~70km x 35km and covers 1,900 km².
*Fruitcake 1 intersected low levels of potash (25m at 1.83% K20).
*McLarty 1 intersected values of over 200ppm Br indicating potash precipitation occurred.
*Both Fruitcake 1 and McLarty 1 intersected undeformed thick (>500m) salt layer.



Targets identified ready for drill testing
*Target 1: Near sub-basin margin Top of Salt: ~700m Planned Depth: 1,400m.
*Target 2: Follow up of Fruitcake 1 in more favourable structural setting – less faulted Top of Salt: ~600m Planned depth: 1,100m.

Completing access arrangements and finalising drilling contractors
•Access route to the targets have been identified along existing tracks.
•Initial discussions with the Traditional Owners of the country have been positive.
•Experienced drilling contractor identified and briefed.
•Drilling anticipated to commence in Q3 2012.
•Initial results likely in Q4 2012.

With 44m shares on issue and MC of $11m, this is one worth keeping an eye on IMO.

 

[springhill]

HFR have provided an update for the Navarra Project.
http://www.asx.com.au/asxpdf/20120704/pdf/4277jm7w7gqptq.pdf

HIGHLIGHTS
• Highly regarded global potash consultancy, North Rim, engaged for technical due diligence.
• Initial technical due diligence on track for completion on Friday 6 July 2012 in Spain.
• Formal ASX advice that Listing Rule 11.1.2 is applicable to the acquisition meaning shareholder approval is necessary to acquire the asset.
• EGM of shareholders to approve acquisition targeted for Thursday 30 August 2012.

 

[springhill]

Investor Presentation.
http://www.asx.com.au/asxpdf/20120914/pdf/428q5tksz96y96.pdf

 

[springhill]

HFR have announced they have raised cash on some pretty favourable terms here in a tough market


$10 MILLION PLACEMENT TO INSTITUTIONAL INVESTOR

• Highfield Resources has agreed to issue 40 million new shares to EMR Capital at an equivalent 8.7% premium on total funds raised.
• Tranche 1 of 23.75m ordinary shares to be allotted at an average price of 21.6c to raise $5.13m.
• Tranche 2 of 16.25m ordinary shares to be allotted at 30c to raise $4.87m, a premium of 30% on last traded share price of $0.23 (subject to shareholder approval).
• Strong institutional “partner” EMR Capital to hold 40 million ordinary shares post placement (Tranche 2 subject to shareholder approval).
• Funds to be applied to Feasibility Studies on Sierra del Perdon and Javier Potash Projects

 

[peaksta]

Has anyone ever looked at these guys? I picked them up at 0.68c and they seem to be making some positive progress. Their financial report releaed yesterday showed some good results and possible future gains.

 

[Ann]

Highfield Resources secures key environmental permit to advance Muga

Highfield Resources (ASX: HFR) has received a key environment permit to advance the Muga potash project in Spain, which as the potential to be one of the highest-margin potash mines worldwide.


Spain’s Ministry for Ecological Transition approved the permit, paving the way for Highfield to focus on securing the mining concession and necessary construction approvals.


With the permit now on board, Highfield will also commit to purchasing several long lead time mining and processing equipment items as well as completing the final project design.


“The awarding of the Declaracion de Impacto Ambiental is the most significant step for Highfield in de-risking the Muga project,” Highfield chief executive officer Peter Albert said. More...

 

[Bazzi]

HFR Seems like at an interesting time to buy in for short term upside, but unsure as I haven't seen a gap in ordering depth as pictured attached. Curious to other brains what they think of HFR, time to buy in or wait or leave it? Cheers

 

[Dona Ferentes]

been a long time coming. Maybe they want the jobs. Up 25 per cent.

The remaining licence for the construction of the Muga Potash Mine’s Process Plant has been granted by the local authority – the Townhall of Sangüesa in Navarra.
• This was the pending licence needed to begin full scale construction at Muga.

 

[frugal.rock]

Chart update.
Not too interested in the company itself, more what they are doing being potash related. Not held.