South Harz Potash (ASX:SHP)
Drill pad construction work at Ohmgebirge. Source: SHP
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  • South Harz Potash (SHP) is getting ready to fundraise, after placing its securities on the ASX in a two-day trading halt
  • The potash exploration business recently began drill pad construction at its Ohmgebirge Mining Licence in Germany
  • SHP is planning to drill OHM-02 to a total depth of 692 metres, while a permit for a second drill hole at the site is pending
  • The company is expected to announce full details of the fundraise, including how the additional capital will be spent, by Monday
  • South Harz Potash last traded at 13.5 cents per share

South Harz Potash (SHP) is getting ready to fundraise, after placing its securities on the ASX in a two-day trading halt.

The potash exploration business is expected to announce full details of the fundraise, including how the additional capital will be spent, by Monday.

Recently, SHP has been focused on advancing exploration work at its Ohmgebirge Mining Licence in Germany.

The area is considered prospective for potash, and the company began construction of a drill pad at the site in late November.

South Harz Potash is planning to drill OHM-02 to a total depth of 692 metres to help it in verifying historical drilling results.

A permit for a second drill hole at the site is also pending and SHP hopes to complete the drill work at Ohmgebirge by the end of Q1 2022.

Before today’s trading halt, South Harz Potash was trading at 13.5 cents each on Wednesday, December 8.

SHP by the numbers
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