News: Highfield Resources granted more time to finalise capital raising

Highfield Resources (ASX:HFR) has been granted a voluntary suspension by the ASX to allow the company to finalise details of its significant capital raising.

The suspension will end following the release of an announcement, which is expected to be made within the next 24 hours.

Highfield is on track to becoming a significant global potash producer from its Spanish projects.

Recently it applied for three new Investigation Permits along strike of the potash bearing evaporite between its Vipasca and Sierra del Perdón projects in the Navarra Province.

This ensures the company strategically controls the entirety of the known potash areas of the basin ensuring no competition which in turn allows for control of logistics with a much higher volume of production than Muga alone.

The company has also delivered a Scoping Study on its Sierra del Perdón Project in Spain which delivered strong project returns and a 20 year mine life.   

In addition, Highfield recently completed a Scoping Study for a proposed slimes crystallisation plant at the flagship Muga Potash Project that has the potential to generate additional revenues and EBITDA.

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