kidl
14 years ago
Potash One Submits an Environmental Impact Statement for Its Legacy Potash Solution Mine
ccnm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2010) - Potash One Inc. ("Potash One" or the "Company") (TSX:KCL) is pleased to announce that on February 28th, 2010, the Company submitted to the Saskatchewan Ministry of the Environment ("MOE" or the "Ministry") an environmental impact statement ("EIS") for its Legacy Potash Solution Mine in southern Saskatchewan.
Following the submission of the Project Proposal to the MOE in September 2009, the Ministry developed and published Project Specific Guidelines for the Legacy Project ("Project"). These guidelines provided the basis for the EIS and defined the key items or issues that the Ministry required to be addressed in the EIS.
The submission of the EIS culminates a 2-year effort in environmental baseline data collection, environmental design work, impact assessment analysis and also provides a comprehensive view of the Legacy Project's expected impact on the local and regional environments. The EIS provides Project information and data upon which the MOE will consider granting environmental approval ("Environmental Approval") for the Project. Approval from the Minister of Environment is required under the Saskatchewan Environmental Assessment Act before the proponent of a development (in this case, Potash One) may apply for and receive detailed construction and operating permits under other legislation.
It is expected that the technical review of the EIS and subsequent MOE advice with respect to public consultations and requests for specific additional information will require several months. On that basis, the Company expects the final decision on Environmental Approval before the end of 2010.
Paul F. Matysek, President and Chief Executive Officer of Potash One, stated: "We are very pleased to have achieved another key milestone in the development of the Legacy Project. Our initial decision to conduct a comprehensive two year study gives us great confidence that we fully understand the environmental impact of the Legacy Project and we can successfully address any concerns in our final development plan. We have always adopted a thorough, cooperative and transparent approach to regulatory and environmental matters and that is why we selected an experienced firm like Golder Associates Ltd. of Saskatoon, to be our lead consultant on our EIS study. We look forward to a positive outcome which will launch Legacy into its final stage of development."
ON BEHALF OF THE BOARD OF DIRECTORS,
Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer
About Potash One Inc.:
Potash One Inc. is a well-funded TSX-listed Canadian resource Company engaged in the exploration and development of advanced potash properties amenable to solution mining. The Company owns a 100% interest in the 97,240 acre Legacy Project which has an NI 43-101 compliant Measured Resource of 29 million tonnes of recoverable KCl, Indicated Mineral Resource of 222 million tonnes of KCl and an Inferred Mineral Resource of 853 million tonnes of KCl. The Company has recently completed a pre-feasibility study with SNC-Lavalin with robust economics at current potash pricing. The Legacy Project is adjacent to the largest producing solution potash mine in the world. The Company also owns more than 515,000 acres of Potash Subsurface Exploration Permits in Saskatchewan, Canada.
Lone Clone
15 years ago
Potash One and Potash North Announce Business Combination
Thu Jan 22, 8:30 AM
http://ca.news.finance.yahoo.com/s/22012009/28/link-f-ccnmatthews-potash-potash-north-announce-business-combination.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2009) - Potash One Inc. ("Potash One") (TSX: KCL.TO) and Potash North Resource Corporation ("Potash North") (TSX VENTURE: PON.V) are pleased to announce that they have entered into a binding letter of intent ("LOI") containing the principal terms by which, subject to satisfaction of certain conditions, Potash One will acquire all of the issued and outstanding common shares of Potash North through a Plan of Arrangement or other form of business combination (the "Business Combination").
The LOI contemplates that each Potash North shareholder will receive 0.3125 common shares of Potash One for each common share of Potash North. In addition, all outstanding convertible securities of Potash North will be exchanged for comparable convertible securities of Potash One in an amount and at exercise prices adjusted in accordance with the same exchange ratio. The exchange ratio represents an approximate 29% premium for the shares of Potash North over the 20-trading day period prior to the execution of the LOI.
There are currently 65,745,002 Potash North common shares issued and outstanding, 2,750,000 outstanding options to purchase Potash North common shares, 38,672,000 Potash North common shares issuable pursuant to outstanding share purchase warrants and an additional 5,000,000 common shares and 5,000,000 common share purchase warrants issuable pursuant to an outstanding unsecured convertible note. Potash One owns 7,583,850 common shares of Potash North which represents 11.5% of the currently outstanding shares of Potash North and an additional 7,583,850 share purchase warrants.
Certain shareholders including Potash One and all the directors and officers of Potash North have agreed to vote their shares in favour of the Business Combination.
The Business Combination will require the approval of Potash North securityholders, the Toronto Stock Exchange and the TSX Venture Exchange, and will be subject to other customary conditions, including the execution of a definitive agreement and completion of due diligence.
The LOI provides that Potash North shall not, directly or indirectly, solicit, initiate or encourage letter of intent offers from, or negotiations with, any third party with respect to any other potential merger or acquisition of all or a material portion of Potash North's business, assets or outstanding securities except where required to satisfy fiduciary obligations of directors. Potash North and Potash One have both agreed to pay a non-completion fee of $2.5 million under certain circumstances. The transaction is expected to close by May 15, 2009.
The Business Combination, once completed, will create one of the strongest junior potash development companies in Canada. Potash One will be fully funded through to completion of feasibility on its solution mining amenable potash development property located in southern Saskatchewan (the "Legacy Project"). Current cash of the resulting company would be approximately $50 million.
Paul F. Matysek, President and CEO of Potash One, stated, "I am very pleased that Potash One has been able to execute this binding LOI with Potash North as this transaction strengthens our balance sheet, further consolidates the potash junior industry and positions the company with over 500,000 acres of subsurface Potash permit holdings, in Saskatchewan. This includes a very prospective exploration stage potash property adjacent to the largest potash mine in the world. In addition, we are pleased to have the support of a number of significant shareholders who together with our present shareholders are committed to the continued development and progress of the Legacy Project. This Business Combination further strengthens our exploration and development position in the Potash industry, bringing us closer to our goal of becoming the first greenfield potash producer in Canada in decades."
Craig A Angus, President and CEO of Potash North, stated; "I am very excited with the opportunity that this transaction presents to our shareholders. As a result of the turmoil in world capital markets, it is increasingly apparent that the successful companies in the junior potash space will be those that have large cash treasuries and advanced stage projects moving toward feasibility and development. This business combination will create the best capitalized Canadian Junior potash development company working in the Saskatchewan basin. Our shareholders will have the opportunity to participate in the advancement of the Legacy Project to completion of feasibility and potentially through to production in the coming years while maintaining the exploration exposure to our KP 416 and 417 Permit areas near Esterhazy."
Canaccord Capital Corporation has acted as advisor to an independent committee of the Board of Directors of Potash North and has provided to such independent committee of Potash North their verbal advice, subject to final review of documentation, that the consideration offered pursuant to the transaction is fair, from a financial point of view, to the shareholders of Potash North, other than Potash One.
Information on Potash One and Potash North may be viewed on the internet at their respective websites noted below, or at the Canadian securities regulator's website at www.sedar.com.
(1) Legacy Project: Potash One is a TSX listed Canadian resource company engaged in the exploration and development of advanced potash properties amenable to solution mining. The Company owns 100% of more than 330,000 acres of contiguous Potash Subsurface Exploration Permits in Saskatchewan. It includes the 97,240 acre Legacy Project which has a 43-101 compliant Inferred Mineral Resource of 391.5 million tonnes of K20 and Indicated Mineral Resource of 40.8 million tonnes of K20 and is adjacent to the largest producing solution mine in the world.
Cautionary Statements Regarding the Business Combination: Completion of the transaction is subject to a number of conditions, including regulatory approval, shareholder approvals, completion of satisfactory due diligence, a definitive agreement and approval of the British Columbia Supreme Court. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the transaction, any information released or received with respect to the business combination may not be accurate or complete and should not be relied upon. Trading in the securities of exploration and development stage resource companies should be considered highly speculative.
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the corporations' periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Statements in this press release other than purely historical information, including statements relating to the companies' future plans and objectives or expected results, constitute forward-looking statements. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the companies' business, including risks inherent in mineral exploration and development. The companies do not assume the obligation to update any forward-looking statement. In particular, no representation is made in this release as to the timing of the business combination, whether the business combination will complete on the terms described herein or at all, the success or value of the combined companies after the business combination. In addition, there are numerous risks and other factors that will influence a development decision, including concluding resource evaluations on mineral properties, mine design limitations, permitting risks and economic factors, all of which may be beyond our control.
U.S. Cautionary Statements: We advise US investors that while the terms "measured resources", "indicated resources" and "inferred resources" are recognized and required by Canadian regulations, the US Securities and Exchange Commission does not recognize these terms. US investors are cautioned not to assume that any part or all of the material in these categories will ever be converted into reserves.
TSX and TSX Venture Exchange: Neither the TSX nor the TSX Venture Exchange has reviewed, and neither accepts, responsibility for the adequacy or accuracy of this release.
Contacts
Arlen Hansen
Kin Communications
(604) 684-6730
Craig Angus
Potash North Resource Corporation
President & CEO
(604) 697-6262
Website: www.potashnorth.com
Paul Matysek
Potash One Inc.
President & CEO
(604) 697-5686
Website: www.potashone.com
kidl
16 years ago
Another deal for "da boyz" ...
Potash One Announces $10 Million Flow-Through Financing
ccnm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2008) - Potash One Inc. ("Potash One" or the "Company") (TSX:KCL) is pleased to announce a non-brokered private placement of flow-through shares to raise up to $10 million. Each flow-through share will be issued at $1.25 per share ("FT Share") for a total issuance of up to 8 million FT Shares (the "Placement").
The flow-through funds raised will be used for general exploration expenditures on the Company's Legacy Project, which will constitute Canadian exploration expenditures (as defined in the Income Tax Act) and will be renounced to the investors.
The Company is paying certain finder's a 5% finder's fee in cash and 5% in finder's warrants. Each finder's warrant will entitle the holder to purchase one non-flow-through common share at a price of $1.50 for a period of 12 months following the closing of the financing.
All securities issued in the Offering will have a hold period in Canada a minimum of four months from the closing of the financing.
The Placement is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer
About Potash One Inc.
Potash One Inc. is a TSX listed Canadian resource company engaged in the exploration and development of advanced solution mine amenable potash properties. The Company owns 100% of a 97,240 acre Potash Subsurface Exploration Permit in Saskatchewan, Canada (the "Legacy Project"). The Legacy Project is adjacent to the largest producing solution potash mine in the world and has NI 43-101 Inferred Mineral Resources of 391.5 million tonnes of K2O and Indicated Mineral Resources of 40.8 million tonnes of K2O.
This press release does not constitute an offer to sell, or a solicitation of an offer to sell, any of the foregoing securities in the United States. None of the foregoing securities have been and, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
FOR FURTHER INFORMATION PLEASE CONTACT:
Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
(604) 331-4431
(604) 408-4799 (FAX)
Email: info@potash1.com
Website: www.potash1.com
trosh1
16 years ago
Potash One Inc.: Legacy Project Update
http://biz.yahoo.com/iw/081007/0440766.html
Tuesday October 7, 8:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Oct 7, 2008 -- Paul Matysek, President and CEO of Potash One Inc. (the Company or "Potash One") (Toronto:KCL.TO - News) states, "Potash One remains committed to the rapid development of the Legacy Project as management believes that:
- the fundamentals for a Greenfield potash solution mining opportunity in Saskatchewan continue to be strong;
- the solution mining approach to potash production provides many benefits, not the least of which are: lower capital cost to production, shorter timeline to production and significantly reduced technical risk in mining when compared to conventional potash mining techniques;
- despite the current challenging financial market conditions, the Company has sufficient funds to meet its corporate objectives for 2008 and 2009."
Significant developments are underway, including:
1) Development of a world-class technical team, centered on two areas:
- Solution mining: A team is being built to ensure the well, cavern and mine designs are leading edge with minimal technical risk. A key aspect of the mine design is that production is scalable, providing early KCl-rich brine production with greatly reduced capital expenditures.
- Processing: An experienced technical team is being assembled to complete several key trade-off studies (ie., natural gas versus electricity use), select the most appropriate technologies (ie., mechanical vapor recompression versus multiple effect thermal evaporation) and create the basic process designs and data. The process team will also create a scalable processing facility to provide finished product to the market at the earliest possible date.
2) Development of the Legacy Project as follows:
- 2D seismic work has been completed on the southern portion of Legacy Project;
- Baseline environmental data collection for EIA have been underway since January 2008; and the studies and communications required to support an EIA submission to the regulators are on track;
- Resource confirmation drilling program is in progress as announced September 12, 2008;
- Solution mining and processing designs are being prepared.
3) Development of a scalable solution mining economic model, so that, if necessary, the Company can avail itself of lower CAPEX requirements in a credit challenged financial environment.
4) The Company is in the due diligence phase with a number of strategic partners with the objective of structuring an operational and/or financial partnership for the rapid development of the Legacy Project.
Mr. Matysek also states, "I am pleased to report that management, directors and new appointees have recently purchased in excess of 475,000 shares in the open market, demonstrating their confidence in the Legacy Project which is owned 100 percent by Potash One."
Rocketred
16 years ago
MARKET TALK: Plunge In Urea Prices Drags Fertilizer Cos
10:55 EDT Friday, September 26, 2008
Edited by Paul Vigna
Of DOW JONES NEWSWIRES
(call: 201.938.5172; email: paul.vigna@dowjones.com)
MARKET TALK can be found using N/DJMT
10:54 (Dow Jones) Urea prices fell sharply last week, which is bad for fertilizer companies, Citigroup says, and downgrades Terra Industries (TRA), CF Industries (CF) and Agrium (AGU) to hold from buy. US urea prices reached as low as $575/ton, down from $705/ton last week, Citigroup says, citing trade press. The risk is buyers will delay purchases and draw down inventories deeper than usual in anticipation of even lower prices. How long that takes to play out is nearly impossible to predict or quantify, firm says, but could take weeks or months to play out. TRA down 20%, CF down 18%, AGU down 12%. (EBW)
10:47 (Dow Jones) Colombian stocks fall, with the IGBC down 0.9% to 9344 amid fears the US Congress won't approve a bailout program. "During a US presidential year, it seems pretty difficult to approve the bailout plan. That increases the risks that other banks may go bankrupt," says Daniel Escobar, head of research at local brokerage Gesvalores. Meanwhile, the peso appreciates to COP2,085 from COP2,094 yesterday. In the local bond market, the yield on the benchmark domestic paper maturing in 2020 trades at 11.980% from 11.905% yesterday. (DMD)
10:42 (Dow Jones) Morgan Stanley's CEO John Mack is keeping employees abreast of "key initiatives" the firm is working on, and sent out a update letter to employees this morning. Mack says the Mitsubishi UFJ Financial platform, which Morgan recently partnered with, "will be invaluable as we transition our business under our new bank-holding company structure." Mack also says planning is "moving ahead" regarding new bank status. He ends the letter by stating "all of us need to make sure our clients continue to understand how Morgan Stanley's unique market position, strong liquidity with full and permanent access to the Fed window, industry-leading Tier-1 capital ration, and unrivaled global platform can help then in these uncertain times." (JXP)
10:38 (Dow Jones) Overnight repo market calms down a bit as traders find it easier to borrow Treasurys and the cost of borrowing eases back a bit. The repo rate for non-specific Treasurys, the so-called GC (general collateral) repo rate, is 1.75%, rebounding from below 1% a day earlier. The rate is above the traded fed-funds rate of 1.25% while below the 2% fed-funds target rate. Still, some specific Treasurys are in high demand. The five-year notes are most sought- after, with the lowest repo rate of 0.05%, followed by the two-year notes, with repo rate of 0.25% and 30-year Treasurys, with repo rate of 0.9%. (MOZ)
10:30 (Dow Jones) After three weeks of small improvements, growth in a leading economic indicator worsened in the week of Sept. 19. Growth in the ECRI leading index weakened to -12.3%, from -11.5% in prior week. "With WLI growth falling to a fresh 28-year low, it is clear that the recession will not end any time soon, regardless of actions taken by Washington," ECRI director Lakshman Achuthan says. Growth in the monthly index worsened to -11.8%, from -9.3% in prior month. (KGM)
10:28 (Dow Jones) The Wall Street mayhem threatens IT spending at big-name financial firms, but things could be much worse, Eric Krangel writes at Silicon Alley Insider, citing Forrester Research. The business from troubled firms like Lehman, Merrill and AIG make up only about 2% of total IT spending, and even in in the case of mergers there's integration needs and the like. "The work to get technology and enterprise systems like general ledger and human resources under the same umbrella can be a bonanza for tech consulting firms," Krangel writes. The biggest risk to IT spending, Forrester said, isn't a Wall Street collapse but a US recession. (KPV) (http://www.alleyinsider.com/2008/9/wall-street-s- blowup-shrinks-the-tech-market-by-billions-could-be-worse)
10:20 (Dow Jones) Brazilian meatpacker Perdigao (PDA) won't suffer the same forex losses rival Sadia (SDA) announced late yesterday, PDA says. Sadia announced it lost 760 Brazilian reals ($411 million) on forex futures contracts. Perdigao has exposure to about $552 million in its balance sheet to debt instruments, which at current exchange levels would mean a loss of BRL140 million to BRL150 million, Credit Suisse said. (AST)
10:14 (Dow Jones) Fox-Pitt upgrades JPMorgan (JPM) to outperform on what it calls its "very attractive deal" for WaMu (WM) - it allows JPM to buy the sixth- largest US depository at essentially no deposit premium, fills gaps in branch penetration in key western and southern markets and makes JPM the largest depository in US, "thus extending its source of cheap and stable funding at a time when markets are obsessing about this." The deal does carry some short-term risk under JPM's estimate that in the event of a severe recession, losses in WM's portfolio would increase by $18B, but Fox-Pitt believes longer-term benefits outweigh the risk. JPM up 0.4% at $43.62. (EBW)
10:11 (Dow Jones) Watching the equities market open, and while stocks are down, it at least looks like equities investors aren't panicking. And there likely won't be so long as any talks continue down in Washington. Central bank liquidity injections are helping juice credit markets ever so slightly. Reuters/ Univ of Michigan sentiment report helps equities a bit. All 10 of the S&P 500's industry sectors are down, with materials, energy, financials the worst. On the Dow, most components are down, with Chevron, Amex, IBM leading decliners; BofA, H-P lead the few gainers. DJIA down 77, S&P 500 down 15, Nasdaq Comp down 32. ( PJV)
10:06 (Dow Jones) Given all the tumult going on right now, an assessment of the economy is not that high on most investors' list. Still, St. Louis Fed President James Bullard would like to remain you that inflation remains high and volatile, although he's optimistic softer oil prices will help the economy out. "Financial market turmoil has recently been severe, and the consequences of this turmoil on real economic performance entail clear downside risk," he says in a speech. "If financial market turmoil can be contained, the FOMC can turn attention to achieving better inflation results than those recently experienced." (MSD)
(END) Dow Jones Newswires
09-26-08 1054ET
Copyright (c) 2008 Dow Jones & Company, Inc.
© Copyright Dow Jones
marshall robert
16 years ago
Ed, have you read this:"Potash supplies are so tight that a case could be made to charge as much as $5,000 a tonne, the chief financial officer of Potash Corp said earlier this week."
That's ~$2 trillion worth of inferred resource for Potash One,and Potash One also owns shares in Potash North!
Potash One, Potash North: Winning Race to Production
by: James West posted on: August 27, 2008 | about stocks: KCLOF.PK / PTNHF.PK
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The intense interest in potash in the last 24 months is due to the increased yield requirement from the global food production conglomerate of a increasingly crowded planet. Combined with supply tightness and higher potash prices, there is strong motivation to bring new potash mines on stream as quickly as possible.
As the world's population continues to increase (to a forecasted 9 billion people by 2050), developing countries are consuming more meat (which has a multiplier effect on grain consumption), and with the amount of arable land decreasing globally, farmers will need to produce higher yields from less land. The combination of these factors requires increased fertilizer application to maximize yield, supporting potash demand growth of 2%-3% per year (or 1.5 million tonnes-2.0 million tonnes per year).
Canada currently ranks as the world’s number one source of potash, most of which is concentrated in southern Saskatchewan.
At present, there are 10 potash mines located in Saskatchewan and two additional mines located in the province of New Brunswick. Additional potash exploration initiatives have been undertaken by a variety of new companies, which have focused their activity in Saskatchewan and south-west Manitoba.
In a research report dated August 25, 2008, CIBC World Markets identifies two of the most promising companies as leading the race to production in Saskatchewan, where grades are highest and infrastructure present.
These are Potash One Inc (KCLOF.PK) and Potash North Resource Corporation (PTNHF.PK).
The reasons these two companies lead the race is by virtue of the management teams and the financial firepower they bring to bear on the future development prospect of actually putting a mine into production, which costs in excess of $4 billion for a solution mine and over $5 billion for a conventional mine.
In the case of Potash One, company president Paul Matysek has demonstrated the ability to bring a company from a junior to a billion dollar takeout target with the sale of Uranium One to sxrUranium for over $1 billion in 2005. Potash North is headed by serial mining entrepreneur Craig Angus who has overseen the development of many grass roots projects into major producing mines.
Potash One is developing the the Legacy project, which contains economically viable potash deposits in the Patience Lake and Belle Plaine members. The potash in these members is best recovered through solution mining methods. The magnesium chloride levels of both the beds under investigation are well below threshold values (1% of magnesium content is acceptable) and, therefore, are still considered suitable candidates for potash extraction. Potash One has found that the indicated and inferred resource levels for the Patience Lake and Belle Plaine solution mines are 37 million tonnes of K20 and 360 million tonnes of K20, respectively.
Potash North acquired interest in two potash exploration permits covering part of eastern Saskatchewan's Middle Devonian age Prairie Evaporate Formation sequence. The Prairie Evaporite Formation sequence hosts the potash beds currently mined at the nearby Rocanville, Mosaic K-1 and K-2 mines.
Potash One has been the subject of several research reports by major Canadian investment banks. GMP Securities in Toronto issued a buy recommendation to $8.80 a share on June 10 this year, and Jennings Capital suggested its clients buy shares in Potash One with a target over $10.00. But the National Bank, also in June, issued a buy recommendation putting its target at a whopping $12.00 a share.
Potash North recently closed a financing wherein it raised a total of $30,750,000 at $2.50 per unit giving the company $30.4 million in the treasury. In July, Potash North engaged Boyd| Petro Search of Calgary, Alberta to conduct a 2D seismic survey of the KP 416 and KP 417 permit areas.
BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RTP) have become intensely active in potash this year, which BHP making an acquisition of a junior and Rio Tinto publicly stating its intention to provide 10% of the global potash market by 2012.
Considering the advanced state and superior land positions of both Potash One and Potash North, it would not be at all surprising to see one or both of these companies bought.
Potash Demand Going Forward
In 2007 consumption of potash totaled 30 million nutrient tons, with China, the U.S., Brazil, India and Southeast Asia consuming two-thirds of global potash fertilizer. Expectations are that global potash demand over the next four to five years will grow at an annualized rate of "3% driven by increased demand from Asia and South America. Over the next couple of years, though, we could see demand below trend levels given that the world is short potash and importing countries are on allocation.
China: While China has been the largest importer of potash, and in 2007 saw demand increase "20% year over year, over the next five years, demand is expected to grow at a lower rate (roughly 2%) given the increase in domestic production.
For 2008, however, expectations are that potash demand will decline given rising prices and major suppliers placing China on allocation.
India: Expectations are that total nutrient demand will remain strong in India, expected to grow 7% year over year in 2008/2009. The region's long-term objective is to balance its fertilizer application with an increasing focus on phosphate and potash versus nitrogen. In South Asia (India, Pakistan and Bangladesh), potash demand will be supported by grain self-sufficiency objectives by the government and fertilizer subsidies.
South America: South America saw a surge in potash demand in 2007, up 16.3% year over year, and the outlook remains positive. Over the medium term, expectations are that potash demand will continue to grow as the region expands its soybean output (soybean requires potash and phosphate but very little nitrogen).
North America: Fertilizer consumption contracted in 2008 as U.S. farmers switched from corn to soybean (which is less fertilizer intensive). With corn acres expected to recover next year, regional fertilizer consumption is expected to increase, with potash demand forecast to be up 3.6% year over year. Over the next five years, potash demand growth is expected to increase 1.5%/annum driven by strong agricultural pricing and growth in non-traditional grain demand (i.e., biofuel
Very interesting......
Ed Monton
16 years ago
Potash One Appoints Ted Warren Manager, Operations
--------------------------------------------------------------------------------
Vancouver, B.C., September 18, 2008 -- Potash One Inc. (the "Company" or "Potash One") is pleased to announce that the Company has appointed Ted Warren to the position of Manager, Operations. Ted's main focus will be on the Company's Legacy Potash project in southern Saskatchewan (the "Legacy Project").
Ted brings with him more than 45 years of experience in the mining industry, having worked in base metals, potash and uranium operations. Throughout his career, Ted has held progressively more responsible positions in mine and mill operational roles.
Ted's career in mining began in 1956 with Hudson Bay Mining and Smelting in Flin Flon, MB. His first experience in potash was with the IMCC Mine (Now Mosaic Esterhazy) in 1964 in the role of Mill Maintenance Supervisor.
Ted moved to Potash Corporation of Saskatchewan in 1970 where he worked at the Rocanville mine and was responsible for the implementation of mill maintenance and operations systems. Ted's role expanded within PCS with the mandate to implement such systems in 4 other mine/mill sites.
In 1985, Ted joined Cameco at its Key Lake complex where he managed systems maintenance for the mine and mill and rose to the role of Site General Manager, providing Operational leadership to that site as it underwent expansion and modification to accept ore from the McArthur River Mine. In that role, Ted led the review of engineering designs with an eye to operational effectiveness, making modifications at the design stage to arrive at a final site configuration which could be more efficiently operated. In the last 5 years, Ted has utilized his experience in a variety of consulting roles in the Uranium and Potash industries, mostly through AMEC Americas' Mining Division.
Ted's background and experience will provide tremendous benefits to Potash One as the Legacy Project progresses. In the near term, Ted will provide invaluable input and direction to the engineering designs and layouts for the Legacy site. With his wealth of experience and his operational background, Ted will help ensure that the resulting designs are optimized in terms of Maintainability and Operability, resulting in reduced operating costs and smoother operation for the property in the longer term.
Paul F. Matysek, President and Chief Executive Officer of Potash One Inc., said: "I am very pleased to welcome Ted Warren to Potash One. As we build our team to execute the Legacy Project, Ted will contribute greatly to the ultimate success of the operation. Guidance and input from someone with Ted's experience level will have its greatest impact during the design phase of the project, so we are very pleased to have him on board at this early stage."
ON BEHALF OF THE BOARD OF DIRECTORS,
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
Telephone: (604) 331-4431
Fax: (604) 408-4799
info@potash1.com
About Potash One Inc.
Potash One Inc. is a Canadian resource company engaged in the exploration and development of advanced solution mine amenable potash properties. The Company owns 100% of a 97,240 acre Potash Subsurface Exploration Permit in Saskatchewan, Canada (the "Legacy Project"). The Legacy Project was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation and is adjacent to the largest producing solution potash mine in the world. In addition, the Company owns 100% of three other Potash Subsurface Exploration Permits over 230,000 acres that are contiguous to the Legacy Project. The Company has NI 43-101 compliant resources, a solid balance sheet, and experienced management to advance the Legacy Project to the next stage.
Lone Clone
16 years ago
Potash inventories lowest ever in August-analyst
Tue Sep 16, 2008 2:41pm EDT
http://www.reuters.com/article/marketsNews/idCAN1644771420080916?rpc=44
WINNIPEG, Manitoba, Sept 16 (Reuters) - North American
potash producers were left with a record low inventory of
825,000 tonnes of the fertilizer at the end of August, an RBC
Capital Markets analyst said on Tuesday.
The month-end inventory was down 21 percent from the end of
July and 33 percent below last year's level, said Fai Lee in a
research note, quoting industry data.
"Given tight potash supply conditions and strong
agricultural fundamentals, we expect potash prices to remain at
elevated levels," Lee wrote.
Prices for potash basis Vancouver approached $800 per tonne
at the end of August, according to Fertecon Ltd data posted on
the website of Potash Corp of Saskatchewan (POT.TO: Quote, Profile, Research, Stock Buzz), the
largest producer of the mineral.
A year ago, potash spot prices were under $200 a tonne.
Record prices for grain have spurred fertilizer sales as
farmers try to maximize yields, and miners of potash have not
been able to keep up with demand.
The inventory data is collected for subscribers by the
Fertilizer Institute. Potash Corp posted a summary graph on its
website showing inventories were down 40 percent from the
five-year average.
"The latest inventory data is consistent with industry
reports that recent visitors to the Port of Vancouver have
indicated the potash warehouses were 'effectively empty'," Lee
wrote.
Canadian producers jointly export potash to offshore
markets through Canpotex, owned by Potash Corp, Mosaic Co
(MOS.N: Quote, Profile, Research, Stock Buzz) and Agrium Inc (AGU.TO: Quote, Profile, Research, Stock Buzz).
The Belarussian Potash Company, Canpotex's biggest
competitor, is also reported to have little inventory in its
warehouses, Lee said.
Potash Corp shares were up 1.5 percent to C$166.41 on the
Toronto Stock Exchange on Tuesday, while Agrium was down 25
Canadian cents at C$78.39 in Toronto, and Mosaic was down 85
cents percent at $83.35 in New York.
LINK:
here
($1=$1.07 Canadian)
(Reporting by Roberta Rampton; Editing by Peter Galloway)
kidl
16 years ago
Potash One Initiates Two-Phased Drill Program at Its Legacy Solution Mining Project
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2008) - Potash One Inc. (the "Company" or "Potash One") (TSX:KCL) is pleased to announce that Nabors Canada has initiated drilling the first well of Potash One's resource expansion and confirmation drilling program at its Legacy Solution Mining Project in southern Saskatchewan (the "Legacy Project").
Based upon initial seismic surveys, Potash One has identified two promising solution mining development areas within the 97,240 acres of the Legacy Project. Both of the areas identified have the potential to support long term solution mining operations. Resource expansion drilling plus additional seismic surveys will be utilized to select the most favourable solution mining area to be developed based upon the potash zone temperature, thickness, average grade, continuity, and quality. The first phase of the drilling program will consist of 3 to 5 wells.
Upon the selection of the solution mining development area, the second phase of the drill program will consist of resource definition by drilling an additional 7 to 9 wells. The planned infill drilling and a 3D seismic survey of the area will be conducted to support the preparation of a revised National Instrument 43-101 compliant resource estimate with the goal of supporting a minimum of 25 years of mining at the production rate of 2 million tonnes of potash per year.
Artisan Consultants has been contracted to supervise the drilling operations and North Rim Exploration Limited has been contracted to coordinate and supervise the permitting, planning, coring, geological and wireline logging, core chain of custody, sample preparation, and QA/QC for the chemical composition of the cores. It is planned that continuous cores spanning the mid-Dawson Bay to the base of the Esterhazy Member will be taken from each well.
The Company also reports that Boyd Petrosearch has completed a 3-dimensional (3D) seismic survey covering an area of approximately 25.6 square kilometers at the Company's Legacy Project in Saskatchewan. The objective of the program was to determine the extent and distribution of the potash-bearing Prairie Evaporite Formation and provide subsurface information that facilitates the assessment of geological conditions adjacent to the historic solution pilot test area of the Legacy Project.
Results from the survey indicate that the Prairie Evaporite Formation ranges in thickness from 80 m to 200 m over the survey area. The structure of the Second Red Beds shows elevation change ranging from very steep to marginal. Since the Second Red Bed is in close proximity to the mining level, its structure suggests that future mining operations will experience minimal topography provided that collapses are avoided.
The survey has verified the extent of collapse anomalies present within the 3D seismic survey area. Experience with similar collapse anomalies in other Saskatchewan potash mines shows that mining in close proximity to these features may lead to unstable mining conditions in the immediate vicinity. A key driver for the acquisition of 3D seismic information is to delineate areas of collapse so that a mine plan can be designed to avoid these features.
Paul F. Matysek, President and Chief Executive Officer of Potash One Inc., said: "We are pleased that we are on track with our development plan. The Company is well funded and in a good position to deliver a pre-feasibility study within 6 to 9 months. Work on solution mining and processing studies to support the pre-feasibility study has commenced."
Max Ramey, PE., a qualified person as defined by National Instrument 43-101, has reviewed this news release and is responsible for its content.
ON BEHALF OF THE BOARD OF DIRECTORS,
Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer
About Potash One Inc.
Potash One Inc. is a Toronto Stock Exchange (TSX) listed Canadian resource company engaged in the identification, acquisition, exploration and development of advanced solution mining amenable potash properties. The Company owns 100% of a 97,240 acre Potash Subsurface Exploration Permit in Saskatchewan, Canada (the "Legacy Project"). The Legacy Project was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation and is adjacent to the largest producing solution potash mine in the world. In addition, the Company owns 100% of three other Potash Subsurface Exploration Permits comprising over 200,000 acres that are contiguous to the Legacy Project. The Company has a NI 43-101 resource, a solid balance sheet, and experienced technical and corporate management to advance the Legacy Project to the next stage.
FOR FURTHER INFORMATION PLEASE CONTACT:
Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
(604) 331-4431
(604) 408-4799 (FAX)
Email: info@potash1.com
Website: www.potash1.com
kidl
16 years ago
Potash One Inc. Adopts Shareholder Rights Plan
ccnm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 27, 2008) - Potash One Inc. ("Potash One" or the "Company") (TSX:KCL) reports that its Board of Directors has implemented a Shareholder Rights Plan Agreement (the "Rights Plan").
The Rights Plan has been adopted to ensure the fair treatment of all Potash One shareholders in the eventuality of a possible take-over bid for the outstanding common shares of Potash One. In the event that a takeover bid should occur the Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess a take-over bid without facing undue pressure or coercion. The Rights Plan also provides the Board with additional time to consider any take-over bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. As such, the Rights Plan is not designed to prevent take-over bids that treat Potash One shareholders fairly.
The TSX has accepted notice of the Rights Plan, subject to, among other conditions, confirmation of the Rights Plan by the Company's shareholders on September 25, 2008 at the Company's 2008 annual shareholders' meeting. If ratified by the shareholders, the Rights Plan will have a term of 3 years.
Pursuant to the terms of the Rights Plan, any bid that meets certain criteria intended to protect the interests of all shareholders are deemed to be "Permitted Bids". A Permitted Bid must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and, in addition to certain other conditions, must remain open for a minimum of 75 days. In the event a take-over bid does not meet the Permitted Bid requirements of the Rights Plan, the rights issued under the plan will entitle shareholders, other than any shareholder or shareholders involved in the take-over bid, to purchase additional common shares of Potash One at a significant discount to the market price of the common shares at that time. The board of directors is not currently aware of any pending or proposed takeover bid for Potash One.
Potash One President and CEO, Paul Matysek commented, "This Rights Plan is simply a proactive measure that we believe is appropriate to adopt in light of the increased pace of merger and acquisition activity in the mining industry. We feel this is the prudent thing to do to protect shareholder value while we are embarking on the current growth phase of the Company."
ON BEHALF OF THE BOARD OF DIRECTORS,
Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer
About Potash One Inc.
Potash One Inc. is a Canadian resource company engaged in the identification, acquisition, exploration and development of advanced solution mine amenable potash properties. The Company owns 100% of a 97,240 acre Potash Subsurface Exploration Permit in Saskatchewan, Canada (the "Legacy Project"). The Legacy Project was previously explored by Imperial Oil Ltd. (now Exxon) and Lumsden Potash Corporation and is adjacent to the largest producing solution potash mine in the world. In addition, the Company owns 100% of three other Potash Subsurface Exploration Permits over 230,000 acres that are contiguous to the Legacy Project. The Company has NI 43-101 resource, a solid balance sheet, and experienced technical and corporate management to advance the Legacy Project to the next stage.
FOR FURTHER INFORMATION PLEASE CONTACT:
Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
(604) 331-4431
(604) 408-4799 (FAX)
Email: info@potash1.com
Website: www.potash1.com
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15 years ago
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