Potash player Trigg Mining plants the seeds for ASX listing
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There is a new potash play looking to hit the boards of the ASX later this year.
Perth-based Trigg Mining, which emerged seven months ago, has put its foot on 2688 sq km of sulphate of potash-prospective land near Laverton, Western Australia.
The company recently raised $1.8 million in seed capital and now wants to go public.
Managing director Keren Paterson told Stockhead on the sidelines of the RIU Explorers Conference in Fremantle, Western Australia this week that Trigg is witnessing “really strong interest” from investors.
“There’s a lot of interest in global food security,” she said. “It’s not a cyclical demand cycle. It doesn’t have these boom prices and big troughs. It’s very, very steady and price has been $US450 to $US600 a tonne for the last eight years.”
Sulphate of potash is a fertiliser for chloride sensitive crops like avocados, coffee beans and cocoa.
Australia is a potential market for Trigg. The country is currently a net importer of sulphate of potash, not a producer.
“It’s a global market — everyone eats, everyone wants good quality food. So everywhere in the world needs sulphate of potash,” Ms Paterson noted.
Trigg has already identified mineralisation on 15 per cent of its Laverton Links project and has defined an exploration target of 2.6 million to 9.3 million tonnes, which Ms Paterson says is “just shy of being a resource”.
Meanwhile, surface sampling on another prospect indicates that at least half the project is mineralised.
“We’ve got a lot of confidence that we’ve got a project and it’s really timing now to go and raise a large sum of money and hit the exploration season pretty hard,” Ms Paterson said.
Trigg has already earned a 44 per cent stake in the joint venture tenements after spending $400,000 on exploration.