Potash Minerals has permitting update for K2O Utah potash project
Potash Minerals (ASX: POK) is poised to announce a permitting update for the K2O Utah potash project, with the company's shares currently in pre-open following the ASX granting a trading halt.
Potash Minerals owns 90% of the project which covers 405 square kilometres of highly prospective potash permits in the Paradox basin of south eastern Utah.
The company's focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.
A plus for the project is that U.S. Bureau of Land Management’s has approved the assignment of all leases to K2O Utah. In 2012 the Bureau also advised that all K2O federal lands are now designated a Non-Known Potash Leasing Area and therefore will not be subject to competitive bidding.
It is also located close to key agricultural regions of the U.S. and also has substantial export potential given its proximity to key rail infrastructure leading to West Coast ports.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 30th April 2013.
Potash Minerals had $1.1 million in cash at the end of December 2012.
www.proactiveinvestors.com.au/companies/...-project-42512.html
Potash Minerals (ASX: POK) is poised to announce a permitting update for the K2O Utah potash project, with the company's shares currently in pre-open following the ASX granting a trading halt.
Potash Minerals owns 90% of the project which covers 405 square kilometres of highly prospective potash permits in the Paradox basin of south eastern Utah.
The company's focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.
A plus for the project is that U.S. Bureau of Land Management’s has approved the assignment of all leases to K2O Utah. In 2012 the Bureau also advised that all K2O federal lands are now designated a Non-Known Potash Leasing Area and therefore will not be subject to competitive bidding.
It is also located close to key agricultural regions of the U.S. and also has substantial export potential given its proximity to key rail infrastructure leading to West Coast ports.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 30th April 2013.
Potash Minerals had $1.1 million in cash at the end of December 2012.
www.proactiveinvestors.com.au/companies/...-project-42512.html
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