Millennial Potash has initiated its definitive feasibility study (DFS) and environmental and social impact assessment (ESIA) for the Banio Potash Project, aiming for both to be completed by the end of 2026. Workstreams include engineering trade-off studies on processing methods and plant location, lab testing on drill core for creep and dissolution, and planned field surveys for flora, fauna, soil and water.

A drilling program on the newly acquired Haute Banio exploration licence will target areas south and east of the current resource boundary, with operations set to conclude by the third quarter of 2026. Results will feed into an updated mineral resource estimate for inclusion in the DFS to support project valuation and development planning.

Geotechnical drilling at the proposed process plant and wellfield is scheduled for Q2 2026, while aerial LiDAR and bathymetric studies of Banio lagoon continue. The company is evaluating export options via Mangali port and a potential dedicated bulk facility and is in discussions with financial institutions to secure construction financing.