Millennial Potash: Positive PEA with IRR of 32.6 Percent for the Banio Project in Gabon

Millennial Potash completes a positive preliminary economic assessment (PEA) with an after-tax NPV (10%) of $1.07 billion and an after-tax IRR of 32.6% for its Banio potash project. The CAPEX for the optimal case of 800,000 tons/year is a very competitive $480 million and the OPEX of approximately $61/ton MOP reflects an expected overall low-cost structure that would make Millennial's Banio potash project competitive with the lowest cost producers in the sector. These are impressive figures that are not at all reflected in the share price.