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Allana Potash Drops 7% After New Resource Estimate for its Danakhil Project

Allana Potash Corp. (AAA.V) is down over 7%, tumbling $0.16 to $1.92 a share over the past 60 minutes after saying a NI 43-101 compliant Mineral Resource Estimate for its Danakhil Potash Project in Ethiopia totals 673 million tons of measured and indicated resource with an average grade 18.65% KCl.

Inferred Mineral Resources are totaling 596 million tons with an average grade of 19.96% KCl. The engineering firm conducting the resource estimate said the current report is based on only 40% of the licensed land area, adding there is "excellent potential" for an expanded resource.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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