HomeNewsEmmerson looks to raise £5.75 million for Khemisset

Emmerson looks to raise £5.75 million for Khemisset

Emmerson has announced its intention to undertake an equity placement of £5.25 to £5.75 million. 

The Placing will be conducted through an accelerated bookbuild process, which will be launched immediately following this announcement with a price range of 5.5 to 6.0 pence and the placing price to be determined following the completion of the accelerated bookbuild process. 

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Shore Capital Stockbrokers and Shard Capital Partners are acting as Joint Bookrunners in connection with the Placing.

Use of proceeds

The net proceeds will principally be used for the continuation of the Project development workstreams comprising the detailed design for the mine, including the decline and infrastructure, for project technical work and testing including geotechnical drilling and drilling to confirm brine deep well injection as well as land optioning, the SOP Feasibility Study and work on the phased development and expansion of the Project.


Emmerson has been granted a Mining Licence for its 100% owned Khemisset Potash Project providing the Company with the exclusive right to develop and mine the Project. 

The grant follows a successful application process including the submission of a proven JORC compliant Mineral Resource Estimate and the confirmed technical and economic viability of the Project, which was satisfied by the Feasibility Study published in June 2020.

The Feasibility Study highlighted Khemisset’s potential to be among the lowest capital cost potash development projects in the world with industry leading capital and operating costs, and delivered an initial mine life of 19 years, based on less than 50% of the global resource base for the Project.

The Feasibility Study was based on only 43% of the total Mineral Resource Estimate for the Project.

Clearly, the remaining resource presents significant incremental value to the Project and the Company intends to design in an expansion project to increase production by up to 50%.

This will materially improve cashflow over the life of the Project and improve the already outstanding economics.