Western Potash (TSX-V: WPX) announced today that drill hole data from their potash exploration program has returned data suggesting the presence of hydrocarbons. An evaluation by a petroleum geologist suggests two formations are targets for significant natural gas. Patricio Varas, the CEO of WPX is quoted saying: The possibility of having sizable natural gas pools [...]
Allana Resources (CVE:AAA) annouced that they have signed an MOU with a government owned company in China to jointly develop Allana’s potash project in Ethiopia. While not naming the Chinese company, the release says that the terms include a $4.5m investment to purchase just under 20% of Allana. Farhad Abasov, Allana’s president and CEO is [...]
Western Potash (CVE:WPX) release results from the first well drilled at the Milestone property in Saskatchewan, Canada. Three potash bearing membres were intersected within just over 40 meters and total 19.9m of mineralization. The well was drilled vertically and the intersections are considered true width. WPX exploration continues with a 5.4m drill program working towards [...]
Allana Resources (CVE:AAA) announced that they have raised $2,542,149.90 million through the issuance of 18,830,740 units at a price of $0.135 per unit. Each unit also included a full warrant at $0.20.Company reports that proceeds will be used for ongoing exploration of Ethiopian Potash projects. Click here for the full press release.
By Leia Michele Toovey- Exclusive to Potash Investing News Sluggish demand world-wide due to the global financial squeeze has left potash stockpiles at all-time highs as potash miners fail to adequately adjust prices. Farmers, especially those finding it hard to get bank financing, may not be buying as much costly fertilizer as they face lower [...]
By Leia Michele Toovey- Exclusive to Potash Investing News Rumours of BHP Billiton’s interest in acquiring a major potash company just won’t go away, as JP Morgan picked up on the theme on Tuesday. Speculation mounted that the world’s largest miner was preparing for a large acquisition after the company raised more than US $6 billion [...]
Allana Resources Inc. reported that Dr. Peter MacLean has joined the Company as Senior Vice President, Exploration. For more information, click here
By Leia Michele Toovey- Exclusive to Potash Investing News Potash prices have soared in recent years. What was once a commodity worth about $200 a tonne is now expected to fetch $1,500 by 2020. According to Scotiabank economist Patricia Mohr potash purchasers are currently paying US$872.50 per tonne at the port of Vancouver. “It is at a [...]
Corridor’s analysis, based on core samples taken during potash exploration in the 1980s, indicates salt in the area is 95 to 98 per cent pure, with a few beds of potash between salt layers. The salt is about 2,200 feet thick at its thickest point. For full story, click here
Western Potash Corp. said that it has got results from its fifth potash exploration well drilled within the Russell-Miniota exploration permit in Manitoba. For full story, click here For company’s website, click here
Get our independent commentary on potash trends and companies delivered to your inbox.
