EPM Mining has a sulfate of potash deposit in Utah. I've been holding this one at an avg cost of .32. The project is late preconstruction and has valuable land tied up. This is a dried up lake bed with numerous minerals including SOP. Regular potash deposits are used to make fertilizer. SOP provides potash but doesn't create too much salt for delicate vegetables and fruits. This is especially important during periods of low water availability(read California Drought)
Contrary to regular potash, SOP has held it's prices and sells for twice as much as potash. The demand for SOP should rise dramatically in California as the drought continues.
This financing should provide EPM money to get their project closer to construction. The project should be very low cost, since it uses solar evaporation to concentrate the valuable minerals. There are very few SOP mining projects in the world. One of the few operating in the US is nearby EPM's land package.
SOP and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as fruits, vegetables, and tree nuts.
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