Prospect Global Resources Inc. (NASDAQ:PGRX) announced that as evidenced in the release of a new engineering report, they are on track with their American West Potash project in Holbrook, AZ.
As quoted in the press release:
According to the report, a cost feasibility study by the international engineering firm of Tetra Tech Inc., key capital expense elements are in line with 2012 expectations, and operating expenses are comfortably within confidence levels set by the December 2011 preliminary economic assessment. The changes to capital expense and operating expense include more focus on potash recovery, reliability and optimization. Prospect Global believes that the bankable feasibility study in 2013 will increase resources and optimize the mine plan.
CEO of Prospect Global, Patrick Avery, said:
This full interim report, focusing on capital and operating expenses, is a welcome confirmation of our progress. We are meeting key technical and operational milestones to build a world class project. We also have made great advances in our site plan, permitting, and infrastructure.