Potash Developer Rallies on High-Level State Site Visit in Africa

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Wednesday, July 8, 2026

Large-scale fertilizer and potash developers in emerging jurisdictions are drawing renewed investment interest as global food-security policies and state-backed infrastructure partnerships take centre stage. Within this space, projects that can pair massive multi-billion-tonne chloride resources with active field development and high-level government endorsement frequently experience significant re-ratings as clear political alignment de-risks the asset ahead of major feasibility milestones.

Millennial Potash Corp. (TSX-Venture: MLP) (OTCQB: MLPNF) moved higher Wednesday after a high-level field visit to the Banio potash project in Gabon on July 5-6 led by Gabonese Minister of Mines and Geological Resources Sosthene Nguema Nguema, Nyanga Province Governor Jean Robert Mabobet, and senior mining administration officials. Millennial also announced adoption of semi-annual financial reporting needed for eligible venture issuers.

Chair Farhad Abasov said the visit let government and local stakeholders see Banio's scale, ongoing field work, resource potential and Gabonese workers on site, and that the government pledged full support for infrastructure build-out and other project aspects. Minister Nguema toured camp and logistics facilities, reviewed a technical presentation on potash and fertilizer benefits for food security, inspected potash-rich drill core, and visited active drilling at BA-006 where the rig team was changing rods. He reiterated government support and noted young Gabonese workers training alongside expatriate specialists.

Recall, the project's mineral resource estimate comprises measured resources of 648.2 million tonnes grading 15.7% KCl, indicated resources of 1.8 billion tonnes at 15.6% KCl, and inferred resources of 3.56 billion tonnes at 15.6% KCl. Millennial is running a four-hole program south and west of the current MRE footprint, targeting an updated estimate after 2026 completion, while advancing a definitive feasibility study and an environmental and social impact assessment. 

Shares of MLP / MLPNF are both up 6.3% to $2.17 and US$1.51, respectively.

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