SPARK
7 years ago
Encanto hits jackpot with direct-selling offtake agreement with Indian farmers’ coop
TORONTO (miningweekly.com) – The potash market on Thursday reverberated with the news that junior project developer Encanto Potash has struck a definitive offtake agreement with an India-based farmers’ coop for a minimum of five-million tonnes a year for at least 20 years, cutting out the middle man and selling direct to farmers.
The company’s TSX-V-listed stock on Thursday nearly doubled as investors scrambled to get in on the action.
“This is clearly a defining moment for our company and the industry. India imports 100% of its potash and is susceptible to cartel-like practices from producers that can hurt its national food security.
Establishing long term offtake agreements are difficult and require a great amount of time and understanding of a country's food security policies and how they interface with the dynamics of a supply environment controlled by a small number of entities,” Encanto president Stavros Daskos stated Thursday.
The National Federation of Farmers’ Procurement, Processing and Retailing Cooperatives of India Limited (NACOF) is India's national farming cooperative and represents farmers across 25 out of 29 states in the country. The NACOF has a 2016/17 budget of $7.67-billion to spend on its primary goal to enter contracts and collaborate to buy, produce, manufacture and market raw materials, finished products and by-products and enter into joint marketing and exchange agreements with cooperative institutions, public sector undertakings or any other agency in India or abroad.
India-based buyers have been loath to sign offtake agreements with established suppliers in recent years as low potash prices drove spot market buying, amid depressed demand. The Encanto strategy was to focus solely on addressing the current and future needs of India over the next twenty years.
According to the marketing arm of major Saskatchewan potash producers Agrium Inc, The Mosaic Company through subsidiary Mosaic Canada Crop Nutrition and Potash Corporation of Saskatchewan, estimates of opening potash inventory levels in all major export market regions are lower than last year's comparisons, providing a strong base of demand into 2017.
Historically, potash consumption in India had reached about six-million tonnes in 2010/11, and according to the Chemicals and Fertilisers Ministry, the aim is to return to this level as potassium, found in Encanto’s muriate of potash (MOP) product, is required in large amounts to sustain and grow their crop based industry.
The comparatively high retail cost of MOP and other potash-based fertilisers in India prompted many farmers to favour the use of fertilisers biased towards higher nitrogen content, owing to their lower cost, Encanto explained.
NACOF and Encanto believe a secure and stable supply of MOP at reasonable prices will incentivise India’s farmers to progress to a balanced fertilisation programme, where the growth rate in consumption of potash-based fertilisers will be higher than the growth rate of consumption of alternate fertilisers. Part of Encanto’s immediate strategy is to also source potash from existing producers pending the commercialisation of its own flagship Muskowekwan project, underlying nearly 25 000 ha on the Muskowekwan First Nation lands, in Sakatchewan.
According to Encanto, the Indian government has set a target to double the farmer’s income in the next five years, and continues its efforts to educate Indian farmers on the long term benefits and potential increases to crop yield that can be achieved from a balanced and strategic fertilisation programme. Soil health assessments being provided by the Indian government and sustained marketing targeted at farmers will play an important role to help prevent over-use and misuse of urea fertilisers.
The latest agreement adds to the existing two-million-tonne-a-year, 20-year agreement with India’s largest trading company, Minerals and Metals Trading Company (MMTC).
FOOD SECURITY
Encanto, which is developing the Muskowekwan project in partnership with the First Nation, said the NACOF strategy changes the economics of the industry as it is focused on the security of India's food supply and increasing India’s agricultural exports for the next twenty years.
The agreement is the result of 20 months of negotiations between the stakeholders to structure an agreement that meets all of our interests and objectives over the next two decades.
The agreement will also allow the Muskowekwan First Nation to generate its own source revenue and helps the Muskowekwan people with training, jobs and opportunities which enable a path forward towards a better future.
Encanto noted that there remain other possible initiatives with NACOF relating to the procurement and marketing of other Canadian products in India regarding the agricultural, mineral, grain/seed, aqua/horticultural, forestry and food/animal sectors through the company’s intention to form a trading company.
Encanto and its Muskowekwan First Nations partner have developed 162-million tonnes of recoverable potassium chloride in compliant proven and probable reserves, with a total of 35.4-million classified in the measured and indicated (M&I) resource categories. At an extraction rate of 2.8-million tonnes a year, the resource will support a solution mine life of more than 70 years.
India is ramping up its minerals investment offshore, having previously agreed to enter the Canadian uranium market with a C$350-million, 7.1-million pounds uranium supply contract inked with Canadian producer Cameco.
http://www.miningweekly.com/article/encanto-hits-jackpot-with-direct-selling-offtake-agreement-with-indian-farmers-coop-2017-01-19
SPARK
7 years ago
ENCTF..monsta in the making..lookie news -->> Encanto Potash Finalizes Definitive Terms and Enters into Offtake Agreement, Securing the Indian Potash Market with India's National Federation of Farmers' Procurement, Processing and Retailing Cooperatives of India Limited
VANCOUVER, Jan. 18, 2017 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO) has successfully finalized a historic offtake agreement with the National Federation of Farmers' Procurement, Processing and Retailing Cooperatives of India Limited ("NACOF").
The agreement provides for the supply of a minimum of 5 million tonnes per year for a guaranteed period of twenty years for muriate of potash ("MOP"). Food security obtained via procurement of an alternative supply of MOP and eliminating middlemen for Indian farmers is a fundamental objective for NACOF.
NACOF is India's national farming cooperative established by the Joint Secretary and Central Registrar, Cooperative Societies under the Ministry of Agriculture, Government of India and representing farmers across 25 out of 29 states in India. NACOF has a 2016-2017 annual budget of $7.67 billion (USD) and one of their primary goals is to enter into contracts and collaborate for the purchase, production, manufacture and marketing of raw materials, finished products and by-products, and also enter into joint marketing and exchange agreements with Cooperative Institutions, Public Sector Undertakings or any other agency in India or abroad.
Encanto President Stavros Daskos stated "This is clearly a defining moment for our company and the industry. India imports 100% of its potash and is susceptible to cartel-like practices from producers that can hurt its national food security. Establishing long term offtake agreements are difficult and require a great amount of time and understanding of a country's food security policies and how they interface with the dynamics of a supply environment controlled by a small number of entities.
In 2011-12 limited potash was imported by India as a result of India's strategy against the pricing practices of producers. The reduced supply, a shift in foreign exchange rates and reductions in government subsidies all contributed to an increase in the retail price for MOP in India which reduced demand. The recent decline in price for potash and government efforts to promote the use of more potash based fertilizers set the stage for increased demand in India. The Encanto Potash Corp strategy was to focus solely on addressing the current and future needs of India over the next twenty years.
Historically, potash consumption in India had reached around 6 million tonnes in 2010-11, and their aim, per the Ministries of Chemicals and Fertilizers, is to return to this level as potassium is required in large amounts to sustain and grow their crop based industry. The comparatively high retail cost of MOP and other potash-based fertilizers in India prompted many farmers to favour the use of fertilizers biased towards higher nitrogen content due to their lower cost. NACOF and Encanto believe a secure and stable supply of MOP at reasonable prices will incentivize India's farmers to progress to a balanced fertilization program where the growth rate in consumption of potash-based fertilizers will be higher than the growth rate of consumption of alternate fertilizers. Part of Encanto Potash Corp's immediate strategy is to also source potash from existing producers pending the commercialization of its own flagship Muskowekwan project.
The Indian government has set an objective to double the farmer's income in the next five years, and continues its efforts to educate Indian farmers on the long term benefits and potential increases to crop yield that can be achieved from a balanced and strategic fertilization program. Soil health assessments being provided by the Indian government and sustained marketing targeted at farmers will play an important role to help prevent over-use and misuse of urea fertilizers.
The Encanto / Muskowekwan First Nation / NACOF strategy changes the economics of the industry as it is focused on the security of India's food supply, increasing India's agricultural exports, the interests of the Muskowekwan First Nation ("MFN") and the interests of Encanto's stakeholders for the next twenty years.
NACOF and Encanto have come together with the MFN to take a critical step for the Muskowekwan project on the MFN reserve lands and to secure India's demand for the future."
We want to thank the Government of India; the management of NACOF and the representatives of the MFN for working tirelessly and cooperatively throughout this twenty month process in order to craft an agreement that meets all of our interests and objectives over the next two decades. We would also like to thank the Government of Canada through the Ministries of Foreign Affairs, International Trade, Finance, Natural Resources and Indigenous and Northern Affairs whom have played a very important role and remain critical for the realization of this endeavour. Chief Reginald Bellerose, from Muskowekwan First Nation, would like to thank the past and current Muskowekwan First Nation Council; FSIN Chief Bobby Cameron; AFN National Chief Perry Bellegarde; his Excellency High Commissioner of India Nadir Patel; and President and CEO of Encanto Potash Corp Stavros Daskos for this type of a project allows Muskowekwan First Nation to generate its own source revenue and helps the Muskowekwan people with training, jobs and opportunities which enable a path forward towards a better future.
The management of Encanto also looks forward to working with NACOF on other possible initiatives relating to the procurement and marketing of other Canadian products in India in connection with the agricultural, mineral, grain/seed, aqua/horticultural, forestry and food/animal sectors through the Company's previously announced intent to form a trading company.
ABOUT NACOF:
Formed in 2009 under the ministry of Agriculture, Government of India, the membership of NACOF is comprised of 67 State Level Federations, District Level Federations and large size/primary level societies from 25 States i.e. the States of Delhi, Uttar Pradesh, Madhya Pradesh, Bihar, Maharashtra, West Bengal, Chhattisgarh, Uttarakhand, Odisha, Rajasthan, Jharkhand, Himachal Pradesh, Andhra Pradesh, Gujarjat, Karntaka, Kerala, Punjab, Arunachal Pradesh, Jammu & Kashmir, Assam, Manipur and Chandigar.
ABOUT ENCANTO:
Encanto Potash Corp. is a TSX Venture Exchange listed and traded Canadian resource company engaged in the development of potash properties in the Province of Saskatchewan, Canada, the largest producing potash region in the world. Through a joint venture agreement with Muskowekwan Resources Ltd. on our flagship property, Encanto has a project land package which totals approximately 61,000 largely contiguous acres. A Pre-Feasibility Study dated February 28, 2013 titled "Encanto Potash Corp. Technical Report Summarizing the Preliminary Feasibility Study for the Muskowekwan First Nations Home Reserve Project in South Eastern Saskatchewan, Canada" confirms the Proven and Probable KCI Reserves totaling 162 MMt grading 28% (average) which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tonnes.
The technical content of this news release has been reviewed and approved by James Walchuck, a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING INFORMATION RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY. FORWARD LOOKING INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED IN OUR FORWARD LOOKING STATEMENTS. SUCH RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THE SATISFACTION OF ANY APPLICABLE CONDITIONS IN RESPECT OF THE MMTC MOU AND THE OFFTAKE AGREEMENT INCLUDING THOSE IN RELATION TO PROJECT TIMELINES, THE ASSUMPTIONS AND ESTIMATES IN THE COMPANY'S PRE-FEASIBILITY STUDY OF THE MUSKOWEKWAN PROJECT (THE "PFS") PROVING TO BE ACCURATE OVER TIME INCLUDING APPLICABLE RESOURCE ESTIMATES, THE POTENTIAL FOR DELAYS AND INCREASES TO PROJECT COSTS AS A RESULT OF POTENTIAL CHANGES IN PLANNED PRODUCTION RATES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY MARKETS, THE ADEQUACY OF THE COMPANY'S FINANCIAL RESOURCES AND THE AVAILABILITY OF ADDITIONAL FINANCING ON REASONABLE TERMS OR AT ALL, THE RISKS OF THE MINING INDUSTRY INCLUDING, WITHOUT LIMITATION, THOSE ASSOCIATED WITH THE ENVIRONMENT, DELAYS IN OBTAINING GOVERNMENTAL APPROVALS, PERMITS OR FINANCING OR IN THE COMPLETION OF DEVELOPMENT OR CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN GOVERNMENT AND CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY, AND OTHER RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE COMPANY'S FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS (AVAILABLE AT WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN. READERS ARE CAUTIONED THAT CURRENT MARKET PRICES FOR THE COMPANY'S PROPOSED PRODUCTS ARE MATERIALLY DIFFERENT THAN THE ESTIMATES USED IN THE PFS AND CHANGES TO THE PROPOSED PRODUCTION RATE WOULD BE EXPECTED TO CAUSE MATERIAL CHANGES TO THE REQUIRED CAPITAL COSTS OF THE PROJECT. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS REQUIRED BY APPLICABLE LAW.
SOURCE Encanto Potash Corp.
For further information: Encanto Potash Corp., 3123 - 595 Burrard Street, Vancouver, BC V7X 1J1, Tel: (604) 609-6110; Gary Deathe, Corporate Development , Tel: (647) 728-7987
RELATED LINKS
www.encantopotash.com
Organization Profile
Encanto Potash Corp.
Encanto Potash Enters Into Memorandum of Agreement With India's National Federation of Farmers' Cooperative for 100 Million Tonne 20 Year Offtake Agreement
Encanto Potash Corp. Announces New CEO
Encanto Potash Corp. Announces Closing of $1,750,000 Private Placement
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SPARK
8 years ago
TRADING SYMBOL: TSXV:EPO OTCQX: ENCTF
VANCOUVER, April 13, 2016 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO) is pleased to announce that they have finalized important terms for their Memorandum of Understanding ("MOU") with Metals and Minerals Trading Company of India (MMTC) http://mmtclimited.gov.in, for a substantial off-take agreement.
Following months of continued negotiations subsequent to the signing of the MOU with MMTC previously announced on October 15th, 2015, which outlined the base terms to a long term off-take agreement, Encanto confirms that the MOU is now expanded for an annual supply of a minimum of 2,000,000 metric tonnes of potash (approximately US$600 million at current prices) from the Company's Muskowekwan Project, located in Saskatchewan.
A Pre-Feasibility Study dated February 28, 2013 referenced below confirms Proven and Probable KCI Reserves on the Muskowekwan Project totalling 162 MMt grading 28%, which supports primary and secondary mining for over 50 years at an assumed annual extraction rate of 2.8 million tonnes.
MMTC, established in 1963, is a Government of India Public Sector Undertaking ("PSU"), India's Largest International Trading Company and one of the two highest foreign exchange earners for the country with a turnover of ~US $10 billion and a current market cap of US $35 billion dollars. MMTC is the first Public Sector Enterprise to be accorded the status of "FIVE STAR EXPORT HOUSE" by the Government of India for long standing contribution to exports and, most importantly, is one of the world's largest buyers of fertilizers. MMTC is owned by the Ministry of Commerce that is also responsible for the Export Credit Guarantee Corporation of India Limited.
The MOU also allows for the immediate supply of potash by Encanto to MMTC, which can be sourced from existing producers while Encanto concurrently continues to develop the Muskowekwan Project. To that effect, Encanto now intends to create a joint trading company in an expanded working relationship with the Muskowekwan First Nation to ensure that the Company can begin to supply potash to satisfy MMTC's needs in the near future as well. The plan is to become an active potash company and to secure substantial near term cash flow; a rarity for a junior potash developer.
In addition, the MOU provides that MMTC will also act as Encanto's worldwide distributor of potash on an exclusive basis, which is expected to provide access to markets and increased pricing well beyond the primary market in India.
Encanto President Stavros Daskos commented on the transaction, "Various entities in India had been tasked over the years with reviewing dozens of potash property opportunities worldwide as part of their formal policy to secure a long term supply of potash for India. Due to a combination of the size, high grade reserves, the simple geology, low environmental impact, solution mining advantages in terms of employment safety and faster path to production, it was determined that Encanto offers the best potash opportunity for India such that MMTC decided to move forward with a long term supply agreement. This will bring the Company great options, including significant near term revenue and a bright long term future."
"To that end, I would like to personally thank H.E. Nadir Patel the Canadian High Commissioner to India and his Government of Canada staff who provided the invaluable support and guidance that made it possible to bring an agreement of this magnitude to this advanced stage."
"This is an exciting day for the Council and the people of Muskowekwan. Production from the first potash mine on First Nation land is now one important step closer and we welcome both the coming direct job creation, spin off employment opportunities and own source sustainable revenue. The new opportunity of facilitating an immediate supply of potash to India will allow us to accelerate our joint goals with Encanto of enhancing First Nations and Indo Canadian skills training and education in conjunction with preserving our important cultural heritage" stated Muskowekwan First Nation Chief Reginald Bellerose.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange listed and traded Canadian resource company engaged in the development of potash properties in the Province of Saskatchewan, Canada, the largest producing potash region in the world. Through a joint venture agreement with Muskowekwan Resources Ltd. on our flagship Muskowekwan Project, Encanto has a project land package which totals approximately 61,000 largely contiguous acres. A Pre-Feasibility Study dated February 28, 2013 titled "Encanto Potash Corp. Technical Report Summarizing the Preliminary Feasibility Study for the Muskowekwan First Nations Home Reserve Project in South Eastern Saskatchewan, Canada" confirms the Proven & Probable KCI Reserves totaling 162 MMt grading 28% which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tons.
Encanto is currently negotiating financing for the development and sale of potash production from the Muskowekwan Project.
The Company also has a 5% interest in the 55,000 acre Ochapowace/Chacachas property also located in Saskatchewan.
The technical content of this news release has been reviewed and approved by James Walchuck, a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "James Walchuck"
Chief Executive Officer
Bodach
9 years ago
Encanto receives expression of interest of $250 million to develop, construct and finance power co-generation plant for potash mine
VANCOUVER , March 27, 2015 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO and OTCQX: ENCTF) is pleased to announce that through its strategic advisor, Horgen Holdings Inc. , that it has received an expression of interest from Fengate Capital Management Ltd. (" Fengate ") to undertake the development, construction and financing of a 100-MW power generating station (the "Project") for the proposed new potash mine and processing plant to be built for the Company's Muskowekwan Project .
"Encanto is very pleased to be receiving significant interest and proposals to develop a co-gen plant for the Muskowekwan Project in anticipation of building our potash mine and plant" explained Encanto President and CEO James Walchuck ."Should we come to acceptable commercial terms for the cost of power, and we see no reason that we would not, the Capex as calculated in the Pre-feasibility would be reduced by $250 million with the associated positive financial impact.It's a big win for Encanto and shows the confidence from the financial industry that we are committed to building this mine."
Fengate expects the Project will produce energy using natural-gas fired electricity generation technology that produces both heat for steam production and electricity (cogeneration).The technology is proven and highly efficient in respect of fuel consumption and air emission.The engineering, procurement and construction cost of the Project is expected to be in excess of $250 million .
Fengate would undertake the Project with a development partner that would lead the technical scope of the project Fengate has identified several qualified candidates.Fengate would lead the capital funding of the Project, including investing the equity capital and arranging the project debt. Fengate is experienced in power plant development and financing.Fengate is a private equity fund manager specializing in the development and funding of power and infrastructure projects.
Fengate's involvement with the Project, including the investment of capital and the application of professional resources, will rely on a high level of confidence that (i) the Potash Mine will be developed within a reasonable time period, and (ii) SaskPower is prepared to enter into an acceptable long-term power purchase agreement for the purchase of the electricity generated by the Project. Once the Project is completed it will make it possible for this region of Saskatchewan to be serviced by the new infrastructure and receive preferential electrical rates.
About Fengate Capital Management :
Fengate Capital Management is an investment management firm specializing in originating and managing investments in the infrastructure and real estate sectors. Fengate is a subsidiary of Fengate Corporation , which began operations in 1974. The Firm's operations encompass asset management, real estate and infrastructure development, and commercial property management across North America and international markets.
Fengate began its operations in 2000 with the launch of Northgate Properties Inc. , a real estate fund established on behalf of a group of high net worth investors. In 2006, Fengate established its first infrastructure fund targeting investments in Canadian public-private partnerships and independent power projects.
For the past seven years, Fengate has been named one of Canada's 50 Best Managed Companies, a program sponsored by the National Post , Deloitte, CIBC and Queen's School of Business.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange listed and OTCQX traded Canadian resource company engaged in the development of potash properties in the Province of Saskatchewan, Canada , the largest producing potash region in the world. Through a joint venture agreement with Muskowekwan Resources Ltd. ("MFN JV") on our flagship property, Encanto has a project land package which totals approximately 61,000 largely contiguous acres. A Pre-Feasibility Study dated February 28 2013 titled " Encanto Potash Corp. Technical Report Summarizing the Preliminary Feasibility Study for the Muskowekwan First Nations Home Reserve Project in South Eastern Saskatchewan, Canada" confirms the Proven & Probable KCI Reserves totaling 162 MMt grading 28% which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tonnes.
The Company has an interest in two additional potash properties in Saskatchewan : 20% interest in the 55,000 acre Ochapowace/Chacachas property and 100% interest in the 55,437 acre Spar property.
Encanto is currently exploring domestic & international strategic partnerships for the financing, development and sale of potash production from its MFN JV Property.
The technical content of this news release has been reviewed and approved by James Walchuck , a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp. , please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Walchuck"
Per: _________________ James Walchuck President and CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING INFORMATION RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY. FORWARD LOOKING INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED IN OUR FORWARD LOOKING STATEMENTS. SUCH RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THE ACTUAL RESULTS OF EXPLORATION ACTIVITIES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY MARKETS, THE RISKS OF THE MINING INDUSTRY INCLUDING, WITHOUT LIMITATION, THOSE ASSOCIATED WITH THE ENVIRONMENT, DELAYS IN OBTAINING GOVERNMENTAL APPROVALS, PERMITS OR FINANCING OR IN THE COMPLETION OF DEVELOPMENT OR CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN GOVERNMENT AND CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY, AND OTHER RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE COMPANY'S FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS (AVAILABLE AT WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS REQUIRED BY APPLICABLE LAW.
SOURCE Encanto Potash Corp.
starbuxsux
11 years ago
Encanto Potash congratulates Chief Reginald Bellerose on re-election
Canada NewsWire
VANCOUVER, April 4, 2013
TRADING SYMBOL: TSXV:EPO
VANCOUVER, April 4, 2013 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO and OTCQX: ENCTF) is pleased to offer their congratulations to Chief Reginald Bellerose and all returning and new Council members on their election as Chief and Council of the Muskowekwan First Nation. This is the fifth term for Chief Bellerose.
The voting took place on Tuesday April 2nd and was administered by a Returning Officer appointed by Aboriginal Affairs and Northern Development Canada (AANDC).
The following is a list of the successful candidates for the eight council seats:
Calvin Wolfe (incumbent)
Jamie Wolfe (incumbent)
Leon Wolfe Jr. (incumbent)
Ernest Moise (incumbent)
Alvin Campeau (incumbent)
Brad Hunter (newly elected)
Julius Manitopyes (newly elected)
Albert Pinacie Jr. (newly elected)
Encanto President and CEO Jim Walchuck commented "Encanto has always appreciated the positive progressive relationship and partnership with the Chief, Council and Muskowekwan First Nation Membership. We congratulate the Chief and incumbent Councillors who were re-elected and welcome the new Councillors. We look forward to working together with the Chief, Council and Membership over the next two crucial years in which we intend to take the Muskowekwan Project from Feasibility Study and well into the construction period."
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange listed and OTCQX traded Canadian resource company engaged in the development of potash properties in the Province of Saskatchewan, Canada, the largest producing potash region in the world. Through a joint venture agreement with Muskowekwan Resources Ltd. ("MFN JV") on our flagship property, Encanto has a project land package, which totals approximately 61,000 largely contiguous acres. A Pre-Feasibility Study was released in February 2013 confirming Proven & Probable KCI Reserves totaling 162 MMt grading 28% which supports primary and secondary mining for over 50 years at an annual rate of 2.8 million tonnes.
The Company has a 100% interest in two additional potash properties in Saskatchewan: the 55,000 acre Ochapowace/Chacachas property and the 91,550 acre Spar property.
Encanto is currently exploring domestic & international strategic partnerships for the financing, development and sale of potash production from its MFN JV Property.
For additional information about Encanto Potash Corp., please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Walchuck"
Per: _________________
James Walchuck
President and CEO
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING INFORMATION RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY. FORWARD LOOKING INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED IN OUR FORWARD LOOKING STATEMENTS. SUCH RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THE ACTUAL RESULTS OF EXPLORATION ACTIVITIES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY MARKETS, THE RISKS OF THE MINING INDUSTRY INCLUDING, WITHOUT LIMITATION, THOSE ASSOCIATED WITH THE ENVIRONMENT, DELAYS IN OBTAINING GOVERNMENTAL APPROVALS, PERMITS OR FINANCING OR IN THE COMPLETION OF DEVELOPMENT OR CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN GOVERNMENT AND CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY, AND OTHER RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE COMPANY'S FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS (AVAILABLE AT WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS REQUIRED BY APPLICABLE LAW.
SOURCE: Encanto Potash Corp. /CONTACT: James Walchuck
President and CEO
Tel: 604-683-2402 Martin Gagel CFA, MBA
Vanguard Shareholder Solutions
Tel: 604-608-0824
Toll Free: 1-866-918-0824
Copyright CNW Group 2013
(END) Dow Jones Newswires
April 04, 2013 08:45 ET (12:45 GMT)
040413 12:45 -- GMT
Story ID: APR042013_DJB_01bL
Keywords: ALL COMPANY NEWS, BASIC MATERIALS Symbols: ENCTF, EPO.V
FlatEarthSoc
12 years ago
Encanto Potash Corp. announces major new land addition
http://www.digitaljournal.com/pr/571385
VANCOUVER, Feb. 2, 2012 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO or OTCQX: ENCTF) announces that Muskowekwan Resources Limited ("MRL"), as general partner of the Muskowekwan Limited Partnership and the Muskowekwan First Nation ("MFN") have provided Encanto the opportunity to add significant new lands to the current Joint Venture Agreement with MRL and MFN. These new additional lands will be part of the upcoming sub-surface land designation vote on February 25, 2012.
As consideration for the opportunity to add these lands to the current Joint Venture Agreement, EPO has agreed to issue to MRL an additional 400,000 common shares and 400,000 common share purchase warrants exercisable at a price of $0.26 per share for a two year period.
The additional lands consist of approximately 42,800 acres of which 27,600 are "TLE" lands and 15,700 are "pre-reserve" lands. Including these lands with the existing 15,500 acre Home Reserve, a positive designation vote will bring the total land package subject to the Joint Venture Agreement to roughly 58,300 acres. This is approximately a 3.5 fold areal increase from the original Home Reserve land holdings.
Pre-reserve lands are lands that are designated for reserve status but have not yet been transferred to full reserve status. This transfer is a straight forward well established procedure. If the upcoming vote receives the requisite majority approval, these pre-reserve lands will be designated for surrender of mineral rights to the Crown, which is required before a mineral lease can be applied for.
Chief Reginald Bellerose of the MFN commented "by adding the right for these additional lands to be contributed to the Joint Venture with Encanto we have again clearly demonstrated our Nation's commitment to see the development of the world's first potash mine on First Nations' soil. These land additions to the Joint Venture are an obvious fit with our Nation's mission "to establish and maintain viable and profitable businesses and investments that create employment and wealth for our Nation." We remain confident of a positive vote on February 25th and that it will complete another major step in our path towards the mine."
The vote, as per Aboriginal Affairs Northern Development Canada ("AANDC") regulations, will require a simple majority of those voting to be in favour of the mineral designation in order to pass successfully. "In light of the 80% positive support from the Muskowekwan Band membership in the first vote held on November 26, 2011, we see this greatly increased land position as a huge positive for both Encanto and MRL and for the Muskowekwan people" stated Encanto President and CEO, Jim Walchuck. "We thank Chief Reginald Bellerose and his Councillors for their hard work on behalf of our partnership and their people as we move towards opening Saskatchewan's next solution potash mine".
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange and OTCQX listed Canadian resource company engaged in the exploration and development of potash properties in the Province of Saskatchewan, Canada, the largest producing region for potash in the world. Encanto's flagship Muskowekwan First Nation property has a recent NI 43-101 resource estimate containing 79.1 million tonnes of KCI grading 29.4% in the Indicated resources category along with 60.5 million tonnes grading 29.7% in the Inferred resource category. These resources, based on the solution mining method, may be increased substantially with the addition of the Treaty Land Entitlement acreage. A Preliminary Economic Assessment (PEA), based solely on the Indicated Resource estimate, was released in August of 2011 and a further release of an expanded NI 43-101 compliant resource estimate is scheduled in 2012.
The technical content of this news release has been reviewed by Ross Moulton, VP of Exploration for Encanto, a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Walchuck"
Per: _________________
James Walchuck
President and CEO
FlatEarthSoc
12 years ago
news: Encanto Potash Corp. Announces $2,000,000 Private Placement Offering Of Flow-through Shares
http://www.digitaljournal.com/pr/529360
Trading Symbol: TSXV EPO
VANCOUVER, Dec. 20, 2011 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV: EPO) or (OTCQX: ENCTF) is pleased to announce a non brokered private placement offering (the "Offering") of up to 5,000,000 common shares to be issued on a "flow-through" basis at $0.40 per common share (the "Flow-through Shares") for aggregate gross proceeds to the Company of $2,000,000.
The proceeds from the financing will be used to expand the resources on Encanto's potash properties located in southern Saskatchewan through 3D seismic and or drilling programs.
In connection with the Offering, a 5% cash finder's fee of the aggregate gross proceeds arising therefrom will be paid to Industrial Alliance Securities. All securities issued in connection with the Offering will be subject to a hold period of four months from the date of closing. The Offering is subject to the approval of the TSX Venture Exchange.
The Company is also pleased to confirm the appointment of Jamie Schwitzer to the Board of Directors. Mr. Schwitzer serves as the Vice President of Westcap Mgt. Ltd. He holds a Bachelor of Arts and Administration from the University of Regina, Saskatchewan, and maintains a CFA designation.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange and OTCQX listed Canadian resource company engaged in the exploration and development of potash properties in the Province of Saskatchewan, Canada, the largest producing region for potash in the world. Encanto's flagship Muskowekwan First Nation property has a recent NI 43-101 resource estimate containing 79.1 million tonnes of KCI grading 29.4% in the Indicated resources category along with 60.5 million tonnes grading 29.7% in the Inferred resource category. These resources, based on the solution mining method, may be increased substantially with the addition of the Treaty Land Entitlement acreage. A Preliminary Economic Assessment (PEA), based solely on the Indicated Resource estimate, was released in August of 2011 and a further release of an expanded NI 43-101 compliant resource estimate is scheduled in 2012.
The technical content of this news release has been reviewed by Ross Moulton, VP of Exploration for Encanto, a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please visit the Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
FlatEarthSoc
12 years ago
Why Fertilizer Is a Better Buy Than Gold
http://www.thefiscaltimes.com/Columns/2011/12/19/Why-Fertilizer-Is-a-Better-Buy-Than-Gold.aspx#page1
By SUZANNE MCGEE, The Fiscal Times
December 19, 2011
After rocketing some $500 in the first eight months of the year, gold prices are tumbling once more as investors take an increasingly bearish view of commodities markets in general. For most commodities, that skepticism is warranted, but gold’s nosedive in recent trading sessions and predictions by some that it will fall to $1,400 an ounce in coming weeks, well below the September record of $1,923.70, has some market watchers raising their eyebrows. After all, isn’t gold a different kind of commodity – a sort of safe haven, an asset that serves as a refuge from uncertain economic times and volatile markets, just the kind that we have lived through in the second half of 2011?
Yes, but…. The gold market has changed a great deal in recent decades. It has never really been dominated by end-users in the way that the markets for copper, soybeans and crude oil ultimately are, but with every year that has passed, the role of speculators in the gold market has grown. Investors no longer buy gold bars and stash them in bank vaults; they snap up gold ETFs or other derivatives tied to the price of gold, and can buy or sell whenever they want. Long-term investors, who want to maintain a strategic allocation to gold in their portfolios, have given way to speculators eager to jump on or off the bandwagon as momentum dictates.
There is still more than $100 billion of gold held in easy-to-sell exchange traded vehicles, by some estimates; investors who don’t want to lose more or who want to hang on to what is left of any profits may well add to the selling pressure. The changes to the ways in which gold can be purchased and the much broader investor base has dramatically changed its nature as a “safe haven.”
So, are there any “safe” commodities left in which to invest? If you listen to the economists, probably not. Forecasts of a slowdown in global growth next year are common; that will wreak havoc on demand for everything from copper to crude oil and not surprisingly, their prices have come under siege. But there is one intriguing option: potash. True, potash is one of those commodities that never really glitters like gold; rather, it lurks in the shadows. It’s not traded on the futures markets – you would have to invest indirectly, via stocks of producers like Potash Corp. of Saskatchewan (POT) and The Mosaic Company (MOS). But the absence of a futures contract also means potash prices haven’t been the focus of speculation.
Not that potash prices don’t face any risks. Shelley Goldberg, a Roubini Global Economics analyst who late last week produced a report analyzing the potash market, concluded that there are in fact many risks involved: Cash-strapped farmers may cut back on fertilizer purchases for a year or two without harming productivity, and there’s some short-term downside risk to both the commodity price and the stock prices. Still, the long-term fundamentals remain relatively upbeat. Demand for agricultural productivity isn’t going to abate, particularly in emerging markets like China, India and Brazil.
Global demand was expected to climb 11 percent this year, and even if the rate of growth in demand from China ebbs, Indian needs are likely to more than compensate as that country tries to become self-sufficient in foodstuffs, especially grains. (Goldberg points out that India’s fertilizer budget is bigger than its military budget....)
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