18:53:22 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Millennial Potash Corp
Symbol MLP
Shares Issued 38,325,000
Close 2023-02-03 C$ 0.55
Market Cap C$ 21,078,750
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Millennial Potash appoints Abasov as board chairman

2023-02-06 12:04 ET - News Release

Mr. Graham Harris reports

MILLENNIAL POTASH CORP. ANNOUNCES APPOINTMENT OF MR. FARHAD ABASOV AS CHAIRMAN OF THE BOARD

Millennial Potash Corp. has appointed Farhad Abasov as its chairman of the board to expedite the company's efforts at its newly acquired Banio potash project in Gabon.

Graham Harris, director, commented: "Mr. Abasov joined the company as director in 2020 and we are very pleased that he has accepted the position of chairman of MLP. Mr. Abasov has over 20 years of successful resource company management and project development, arranging in excess of $500-million in project funding in the mining and energy sectors. Farhad is coming off another successful exit as the president and CEO of Millennial Lithium Corp., which was acquired by Lithium Americas in early 2022 for $490-million. Mr. Abasov brings a wealth of potash experience to the company as the former president and CEO of Allana Potash Corp. and as a co-founder of Potash One. This potash and corporate experience will be crucial in guiding the company's efforts at its newly acquired Banio potash project and we look forward to an accelerated successful program in 2023."

Mr. Abasov has extensive experience in the mining and project development sectors. His latest success was as the president and chief executive officer of Millennial Lithium, guiding the Pastos Grandes project through feasibility, pilot pond, pilot plant test work and a successful acquisition by Lithium Americas after competing offers from Ganfeng and CATL. Mr. Abasov brings a wealth of potash experience to the company, having led Allana Potash from an exploration project through feasibility to acquisition by Israel Chemicals Ltd. in 2015. Prior to Allana Mr. Abasov was a co-founder of Potash One in Saskatchewan, which was acquired by K+S for $470-million. In addition, Mr. Abasov has extensive experience in the nuclear energy sector gained through his tenure as senior vice-president at Energy Metals (acquired by Uranium One for $1.8-billion) and at Atomic Energy of Canada.

Millennial continues its preliminary preparations for the ramp-up the Banio potash project with an initial team mobilizing to the project site in the coming weeks.

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