Agrimin
Primary ticker: ASX:AMN
Stage of development: Development
Primary minerals: Sulphate of Potash (SOP)
Project to promote: Mackay Potash Project
Project location: Australia
Website: www.agrimin.com.au
Based in Perth, Agrimin Limited is the leading fertiliser company on the ASX (ASX:AMN) focused on development of its 100% owned Mackay Potash Project. The Project is situated on Lake Mackay in Western Australia, the largest undeveloped potash-bearing salt lake in the world. Agrimin’s vision is sustainable food security for future generations by providing nutrition the world needs. The demand for SOP is underpinned by population growth, which the Food and Agriculture Organization of the United Nations predicts will drive an increase in global food demand by 50% by 2050.
Cash: AUD 2.5M
Debt: NIL
Major shareholders:
BCI Minerals Limited – 11.1%
Hillboi Nominees Pty Ltd & Associates – 8.8%
Mark Savich – 3.5%
Walloon Securities Pty Ltd – 3.1%
Spar Nominees Pty Ltd – 2.5%
Management Ownership – 5.8%
Financials
Management Profile
Debbie Morrow (Managing Director & CEO) is a highly accomplished energy and mining executive with extensive experience leading large-scale projects and a range of corporate and sustainability roles. She has more than 25 years’ experience at global oil and gas company Woodside Energy and most recently C-level Executive at OZ Minerals.
What is your rationale for taking part in 121 Mining Investment?
What recent news would you like to highlight to investors attending?
24 September 2024 – Process Engineering Update
10 July 2024 – Process Engineering Update – Flotation
1 March 2024 – Process Engineering Update
14 December 2023 – Final Native Title Agreement Signed
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Receive primary environmental permits and commence engagement for a strategic partner.
6 Months:
Secure strategic partner and have line-of-sight to remainder of funding plan to enable Final Investment Decision (FID). Process test work program nearing completion, on-ground baseline environment monitoring commenced and front-end engineering to support FID deliverables progressing to plan.
12 Months:
Front end engineering complete to enable Final Investment Decision and commencement of construction.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
What do you think makes your company such a compelling investment?
Agrimin’s vision is sustainable food security for future generations.
Growing population coupled with reduction in arable land requires high-quality fertiliser to increase yield and deliver the nutrition the world needs.
Existing global supply is diminishing, and demand is increasing. Current premium pricing is forecast to stay, as there are limited opportunities for new supply.
The Mackay Project is the world’s largest undeveloped potash bearing salt lake.
Located in a geopolitically stable region with outstanding ESG credentials the Mackay Potash Project will be a low cost, long life mine.
What are the top 3 key investor takeaways?
The Mackay Project is the world’s largest undeveloped potash bearing salt lake. Located in a geopolitically stable region with outstanding ESG credentials the Mackay Potash Project will be a low cost, long life mine.
SOP is a premium fertiliser required for chloride intolerant crops such as fruit, vegetables and nuts. Increasing yield with high quality fertiliser is the only way to provide food security for the growing global population.
Global supply is diminishing, and demand is increasing, there are no large-scale SOP developments on the horizon other than the Mackay Potash Project in Western Australia.