Magnesium Alloy Corp. unit to develop potash project in Republic of Congo
2005-01-12
WALLACE, N.S. (CP) - Magnesium Alloy Corp. said Monday a wholly owned subsidiary has signed a deal to develop a potash project in the Republic of Congo
The company said MagMinerals Inc. signed an agreement with SSI, a subsidiary of SCPA for the marketing of potash fertilizers under a firm long-term agreement. MagMinerals is planning a potash plant at its magnesium and potash salt deposit at Pointe-Noire, Republic of Congo.
Magnesium Alloy shares (TSXV:MAA.U) were last traded on the TSX Venture Exchange last Friday for 95 cents US.
The Nova Scotia-based company lost $561,000 US for the fiscal year ended last March 31 and had assets of nearly $5.9 million US at that time.