Buffalo Potash Details Roadmap to First Production at Disley Project; Targeting Early 2027

Buffalo Potash Corporation (BUFF) has outlined its development roadmap for the Initial Production Module (IPM) at the Disley Project in Saskatchewan, targeting first production in Q1 2027. The IPM is designed to produce 125,000 tonnes per annum (TPA) of soluble-grade potash using the company's patented Horizontal Line-Drive (HLD) solution mining method.

To fund the IPM, the company recently completed a $14.85M non-brokered private placement. Management highlighted that the IPM will establish early commercial production, generate well data for a feasibility study, and demonstrate the HLD method at commercial scale. Development phases include drilling source and disposal wells, HLD horizontal drilling, brine circulation, site winterization, and surface processing with a two-stage cooling crystallization circuit.

The company also referenced a Preliminary Economic Assessment (PEA) showing a US$1.1B net present value (NPV) and a 30% internal rate of return (IRR) for the full 1,125,000 TPA build-out. However, a risk disclosure notes that the production decision is not based on a feasibility study of mineral reserves, carrying higher technical and economic risks.

Buffalo Potash Corporation (BUFF) released an operational update that follows its April 2026 Preliminary Economic Assessment (PEA) and the subsequent June 2026 financing. The announcement establishes a concrete timeline for reaching first production in the first quarter of 2027 and outlines the technical steps required to achieve that milestone.

The roadmap confirms management’s execution capability but does not introduce fundamentally new information or unexpected catalysts. The financing had already been closed, and the PEA metrics were previously disclosed. Given that the market likely priced in the Q1 2027 target based on the April PEA timeline, the impact of this update is considered incremental and expected.

Buffalo Potash Corporation (BUFF) is a pre-revenue exploration and development company focused on the Disley Project in Saskatchewan, Canada. The project is located approximately 50 km northwest of Regina, adjacent to major producing solution mines operated by K+S Bethune and Mosaic Belle Plaine.

The company’s flagship technology is the patented Horizontal Line-Drive (HLD) selective solution mining method, which aims to reduce freshwater use, well count, and processing complexity compared to conventional vertical cavern mining. The project envisions a modular development strategy, beginning with an Initial Production Module (IPM) of 125,000 tonnes per annum (TPA), followed by Disley East and Disley West, scaling to 1,125,000 TPA.

A Preliminary Economic Assessment (PEA) dated April 2026 indicates an after-tax net present value (NPV) of US$1.1 billion and an internal rate of return (IRR) of 30%, with an estimated payback period of 12 months from IPM production start.