AFR's Street Talk this morning: Potash explorer and developer...

AFR's Street Talk this morning:

Potash explorer and developer Highfield Resources is seeking to raise $32 million in a placement through Foster Stockbroking and Taylor Collison.
South Australia-based Highfield went into a trading halt on Tuesday morning as its brokers contacted potential investors for the cash call.
The brokers were seeking to sell 40 million shares to institutional and sophisticated investors at 48¢ each.
The offer was priced at a 4¢ discount to Highfield’s last close, and split into two tranches of 20 million shares.
Existing shareholder EMR Capital also committed to taking 25 million shares at 51¢ each, subject to shareholder approval. EMR would own 32 per cent of shares on issue (not including performance shares) on completion.
Funds raised would be used to pay for a definitive feasibility study at the company’s Javier deposit in Spain, according to a termsheet sent to investors.
Local bids were due by 4pm AEST on Wednesday.
Brokers GMP Securities and Numis Securities were tasked with finding potential UK investors.
Highfield is an Australian-based Potash explorer and developer, with focus on three Spanish projects.