ASX-listed junior potash miner Highfield Resources has secured an investment of $6 million (A$8.9 million) from existing strategic shareholders EMR Capital Management Ltd., Tectonic Investment Management, and another institutional investor under a convertible note deed.
“We are fortunate to have a number of existing strategic shareholders who continue to demonstrate strong support for the company at a pivotal time as we focus on finalizing a number of initiatives that will ultimately see the start of construction of the main facilities at Muga in the early part of 2024,” said Highfield CEO Ignacio Salazar.
The company is focusing on its Muga-Vipasca Potash Project in Spain. It reports the receipt of all key permits and licenses. “Concurrently, our focus remains on completing the remaining funding for Phase 1 operations, the culmination of which is expected to deliver a major value inflection point for all stakeholders,” Salazar said.