(MENAFN- ProactiveInvestors - Australia) Elemental Minerals (ASX:ELM, TSX:ELM) has hired BMO Capital Markets to help it consider options to develop its Sintoukola potash project in the Republic of Congo.
Options being considered include financing through a minority investment by a strategic party and off-take agreements, the firm said in a statement.
Other possibilities may include a merger or other transaction involving Elemental and a third party, it added.
The firm's chief executive Iain Macpherson said: "The appointment of BMO as our advisor, given the strong potash credentials the group brings to the table, is the next logical step for the development of our project and company.
"As a junior we always knew that the financing of this project would be a major task. Given the strategic nature and scalability of our high grade Sintoukola potash deposit, we are confident that we will find partners that will provide capital, complementing our aim to access equity and debt markets once this process has been completed."
The firm cautioned there was no guarantee that this review process would result in any transaction.
So far, the firm's exploration work has focused on the Kola deposit, which is a part of the Sintoukola property.
This has delivered a 43-101 sylvinite resource of 413 million tonnes in the measured and indicated categories with a further 261 million tonnes in the inferred mineral resource category.
This is the key component of a potash resource of just over 959 million tonnes in the measured and indicated categories, with a further 513 million tonnes in the inferred mineral resource category.
In February this year, the company said the Sintoukola project would start producing in 2015, ramping up to full capacity of nearly two-million tons yearly by 2017.
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