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 (TSX-V:AAA) has just announced that it has commissioned construction of an all-season facility at its Ethiopia Potash project. The housing will accommodate up to 20 people and will include dormitories, a kitchen and water purification equipment. Allana’s President and CEO Farhad Abasov is quoted as saying: Allana is excited to take this first step [...]
Western Potash (CVE:WPX) reported today that their fourth well has intersected 25 meters of potash, indicating continued mineralization from previous results. In addition, temperature readings in the wells also continue to indicate solution mining would be economic for the project. The release states: The Company re-iterates that it considers formation temperature a key parameter in [...]
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 [...]
On June 15th Western Potash (CVE:WPX) reported their second well drilled at the Milestone property in southern Saskatchewan returned results they believed were not indicative of the actual potash deposit on their property. The Patience Lake member was clay disturbed, and the company believed this was a local anomoly only. To confirm this theory, WPX [...]
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.
New World Resource Corp. declared that it has received a positive technical report on the brine samples from its Pastos Grandes Salar, Bolivia. For full story, click here
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 [...]
Potash North Resource Corporation and Potash One Inc. declared that Potash North’s shareholders voted over 99% in favour of the previously announced business combination with Potash One at a special meeting of shareholders held today. For full story, click here
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