Gondwana recently announced it is in the process of rationalizing its existing suite of tenements and looking to acquire a ‘company maker’ project. The Company is currently assessing a number of exciting projects both in Australia and overseas and will keep the market informed regarding developments on this front.
In the context of the above strategy, the Company has entered into a Convertible Loan Agreement with Amazon Resources Limited (ARL), a potash explorer in the Amazon basin, Brazil, and the Canning Basin, WA. Prior to any decision to convert the loan to shares in ARL, the Company will investigate the possibility of a bid for all of the capital of ARL. ARL has an excellent portfolio of potash projects, including some of the shallowest salt layers in the Amazon Basin. Its projects are well located in proximity to river transport, port, water and power. Please refer to recent ASX announcements for further details regarding this matter.