Crew aids Asia Pacific

Potash explorer Asia Pacific Resources (APQ-T) has raised $3.1 million by privately placing 5.6 million units. Crew Development (CRU-T) subscribed to 4 million of the units to increase its interest in Asia Pacific to about 13.2%.

Proceeds are earmarked for working capital and the advanced Somboon potash project, in the Udon Thani province of northeastern Thailand. Reserves at Somboon are pegged at 180 million tonnes grading 23.6% potassium oxide.