Plains Creek Phosphate Corporation fka PCP

[hispeedsoul]

I've lost a good amount of money here. Sucks. The reason they R/S was because they couldn't get financing unless share price was above .05. R/S got the price there and now falling quickly. If this falls below .05 again, then what? I thought they had a plan for keeping share price steady once they reverse split this.

[SPARK]

Bastards..they never did anything for this stock~

[hispeedsoul]

R/S and going down. Man, we got hosed.

[hispeedsoul]

GB MINERALS LTD. ("GBL")
[formerly Plains Creek Phosphate Corporation ("PCP")]
BULLETIN TYPE: Name Change and Consolidation
BULLETIN DATE: March 27, 2013
TSX Venture Tier 2 Company

Pursuant to a resolution passed by shareholders March 25, 2013, the Company has consolidated its capital on a 20 old for 1 new basis. The name of the Company has also been changed as follows.

Effective at the opening on Thursday, March 28, 2013, the common shares of GB MINERALS LTD. will commence trading on TSX Venture Exchange, and the common shares of PLAINS CREEK PHOSPHATE CORPORATION will be delisted. The Company is classified as a 'Mining Exploration and Development' company.

[hispeedsoul]

Appears the R/S has now happened. We are at .20 cents.

[Not so young Turk]

That's the part I wasn't there for however, I did bring it up with Owen and he did say that it what would occur.

[hispeedsoul]

Thanks for the update. All resolutions pass? Particularly, the reverse split?

[Not so young Turk]

HISPEEDSOUL: Yeah I attended as I live in Vancouver and I've some money tied up in PCP. Got there late (doctor appointment) just to hear the meeting wrap up. However, I spoke to Owen Ryan to get an up to date version of what is planned. This guy is the real deal...very confident of his abilities.

He told me they are going to pursue the DHO first provided that they can get the moisture content of the ore down to about 14% otherwise they will have to dry it somehow (more $$). This, he believes, will start to provide some cash flow. Then they will go after benefication of the phosphate as the price of the product goes up with this option.

I told him how disappointed I was to have an investment in a stock with such a high grade and not hear anything about it whereas other plays, noteably in Quebec with just a 7% grade, getting a lot of "noise". He told me that he is going to make plenty of "noise". It might take a while so just hold on.

[hispeedsoul]

Anyone attend the annual shareholder meeting today? It was held at 10 AM Vancouver time. Voting on various important items.

[hispeedsoul]

Anyone else get their proxy in the mail and their Control voting number doesn't work?

[hispeedsoul]

From recent MD&A:

The Company has engaged Ross Glanville & Associates (“Glanville”) and Bruce McKnight Minerals Advisor
Services (“McKnight”) to provide a proposal to prepare a written opinion (the “Opinion” or “Fairness Opinion) as to
the fairness, from a financial point of view, of the proposed acquisition (the "Proposed Transaction") of 49.9% of the
shares of GB Minerals AG from two related party shareholders of PCP (the "Sellers") to PCP and its shareholders
other than the Sellers. Under the proposal, a certain number of common shares of PCP will be issued to the Sellers
for the 49.9% of GBM AG that PCP does not own (PCP currently own 50.1% of GBM AG). The Proposed
Transaction is subject to approval of the shareholders of PCP to be sought at a meeting which is scheduled for
March 25, 2013

[hispeedsoul]

Looming phosphate shortage

http://www.smh.com.au/environment/the-farmers-gold-dust-20130212-2eado.html

[hispeedsoul]

Big volume today. Small PPS though.

[hispeedsoul]

I welcome Mr. Owens as well, and hope he does what's in the best interest of shareholders. I have not been too pleased with the recent news of a reverse split, so it will be interesting to see where he goes from here. Maybe there are some alternative plans.

[Not so young Turk]

I wished Owen Ryan well in his new job and I do hope he gets this company rolling. So it might involve a bit of consolidation of all those shares outstanding and some further dilution but it is a good project with impressive grades of phosphate. I could never understand why Frank or Carson did not get PCP's name out there like some of the other phosphate plays with much lower grades... I hope this is going to be different this time around.

[hispeedsoul]

Plains Creek Phosphate announces the appointment of Owen Ryan as Executive Chairman


VANCOUVER, Feb. 4, 2013 /CNW/ - The Board of Directors of Plains Creek Phosphate Corporation ("Plains Creek", or the "Company") (TSX-V: PCP) is pleased to announce the appointment of Owen Ryan as a new additional director, Executive Chairman, Interim President and CEO with immediate effect. Glenn Laing and Carson Phillips have stepped down from their executive positions and will not be seeking re-election at the next annual general meeting of shareholders, which is scheduled for March 7, 2013 (the "AGM"). Mr. Laing has entered into a consultancy agreement with the Company to provide advisory services as and when requested.

Mr. Ryan brings to Plains Creek extensive experience as a senior level mining executive. Previous roles include; Head of Group Business Development for Anglo American plc in London, Head of Global Mining Research and Sales at UBS Investment Bank in London and Head of Mining and Commodity Research at Old Mutual Asset Management in Cape Town, South Africa. Mr. Ryan was recently a Non-Executive Director of TSX-listed Western Coal Corporation. He is currently a Non-Executive Director of Mongolia Minerals Corp., an unlisted Canadian public company.

Mr. Ryan is respectively a partner and director of London based Scarab Capital Partners LLP and Scarab Investments Ltd. He is also a founding shareholder and Chairman of Alameda Minerals Ltd, a Chile based mining exploration and development junior. Mr. Ryan holds a BSc in Civil Engineering and an MBA, both from the University of Cape Town.

Mr. Ryan stated, "I look forward to the challenge of leading this junior phosphate mining company into its next phase of development. The Company has completed a bankable feasibility study establishing a proven phosphate reserve with world class potential that deserves to be brought rapidly into production. We have a core of strong shareholders who currently support this vision and I look forward to building value for all shareholders and stakeholders."

The Board is currently in the process of examining its strategic alternatives including restructuring and refinancing the Company. It is the intention of the Board that should any shareholder approvals be required in this respect, these will be sought at the AGM on the March 7, 2013.

About Plains Creek

Plains Creek Phosphate Corporation is a Canadian mining exploration and development company focused on advancing its Farim Phosphate Project (the "Project") in Guinea-Bissau, West Africa. The Project currently comprises a phosphate deposit consisting of one continuous flat lying phosphate bed with Mineral Resource and Mineral Reserves estimates, as disclosed in the Company's current technical report on the feasibility study (the "Feasibility Study") on its Project in accordance with National Instrument 43-101, dated effective December 19, 2012, filed on SEDAR on January 17, 2013 and publicly available on SEDAR under the Company's profile at www.sedar.com. The Feasibility Study defines a Measured Resource of 64.6 MT at an average grade of 29.11% P2O5, an Indicated Resource of 28.1 Mt at an average grade of 27.68 % P2O5, and an Inferred Resource of 18.3 Mt at an average grade of 28.66 % P2O5 and states total proven and probable reserves of 33.0 Mt (dry) with an average ROM P2O5 grade of 30.4%. The Measured and Indicated Resource estimates stated above are inclusive of the resources comprising the proven and probable reserve estimates. A two-phased development is contemplated for the Project as an open pit mining operation. Phase One consists of a 1.0 Mt per year beneficiated phosphate rock concentrate project, as described in the Feasibility Study, and Phase Two would consist of the production of 2.0 Mt per year of phosphate rock concentrate with a beneficiation plant and associated infrastructure, pipeline and port.

The Company's shares are listed on the TSX Venture Exchange under the trading symbol "PCP". For additional information, please visit us at www.plainscreek.com.

ON BEHALF OF THE BOARD

(Signed) "Owen Ryan"
Owen Ryan
Chairman, Interim President, Interim Chief Executive Officer and Director

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward-statements and the Company undertakes no obligation to update statements. Such forward looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

The reader should be cautioned that there are risks that could affect the potential development of the Project's mineral resources, which include: the political instability in Africa and Guinea-Bissau in particular, which is where the Project is located; and that additional financing will be required to ultimately develop the Project and the ability to obtain such financing on favorable terms will be affected by prevailing market conditions. A more detailed discussion of such risks are outlined in the Company's Management's Discussion & Analysis and its current Feasibility Study, all of which are filed under the Company's profile on SEDAR at 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.

SOURCE Plains Creek Phosphate Corp.

Copyright 2013 Canada NewsWire

[apatel1]

PCP.V-New Single Current Technical Report

VANCOUVER , Jan. 17, 2013 /CNW/ - Plains Creek Phosphate Corporation ("Plains Creek", the "Company") (TSX-V: PCP) is pleased to announce the filing of a new, single current technical report for the feasibility study on the Company's Farim Phosphate Project entitled, "Feasibility of the Beneficiated Phosphate Rock Concentrate of the Farim Phosphate Project, Guinea-Bissau , An NI 43-101 Report" dated effective December 19, 2012 (the "Report").

The Report supercedes the previously filed technical reports entitled, "Feasibility of the Beneficiated Phosphate Rock Concentrate of the Farim Phosphate Project, Guinea-Bissau , An NI 43-101 Report" and the "Feasibility Study of the Direct Shipping Option of the Farim Phosphate Project, Guinea-Bissau , An NI 43-101 Report", each dated effective November 2, 2012 (the "Previous Reports"). The Report was prepared further to comments received from the British Columbia Securities Commission (the "BCSC") as described in a news release of the Company dated December 3, 2012 . In particular, the Report has made the following changes from the Previous Reports to address BCSC comments and meet the requirements of NI 43-101:

disclosure is amended to show power costs separately from the combined water and power costs, including disclosure of gross power consumption and power cost individually and in more detail, using standard industry measures, with explanations of the basis for estimation;


an after-tax economic analysis has been provided, with a detailed analysis of applicable taxes and royalties and the basis for assumption of those applicable taxes which provides reasonable grounds for certainty; and


product pricing has been clarified to a level of certainty supported by quotes, contracts, agreements or industry information.
The Report is prepared by the following qualified persons who are responsible for the entirety of the Report with respect to their respective sections of the Report: Michael Short , BE, FIMMM, CEng, Richard Elmer , CEng, MIMMM (CP), Dr. Martin Preene , CEng, Dr. Marcelo Godoy , MAusIMM (CP), Terry Kremmel , PE (MO and NC), SME (CP), Hendrik J.H. Otto, PrEng (SA) and Matthew Clark , P.E., CEng, PMP (QP). All of the foregoing qualified persons are independent from the Company pursuant to NI 43-101.

The Company is pleased to announce that considering beneficiated phosphate rock production for the Farim Phosphate Project on a stand-alone basis, the undiscounted pre-tax cash flow totals US $1.526 billion over a 25 year mine life and US $1.220 billion on a post-tax basis. Pre-tax operating cash flows averages US $67.69 million per year and US $55.42 million per year post-tax. Simple payback of the pre-production capital investment is achieved after approximately two years of operation on a pre-tax and post-tax basis. The pre-tax internal rate of return is 37.69% compared to 35.87% post-tax. At a discount rate of 15%, the net present value of the project is US $216 million compared to US $175 million post-tax. Minor refinements to the capital and operating cost estimates changes certain economic figures only slightly from the pre-tax scenario considered in the Previous Report for the beneficiated phosphate rock alternative.

There has been no change in the Report from the Previous Reports with respect to the stated mineral resources or mineral reserves estimates. However, the economic assessment has changed somewhat as the analysis has been conducted on a post-tax basis, as described above. Most significantly, the Company decided to focus on the feasibility study for beneficiated phosphate rock production rather than the direct shipping option ("DSO") of phosphate matrix mining product due to an anomaly identified in testwork for anticipated moisture levels for the dewatered matrix. The relationship between the transshipable moisture limit and the matrix moisture levels requires further evaluation of the DSO influence whether the DSO is technically feasible and, even if the DSO is technically feasible, local regulatory conditions may also inhibit the potential for the DSO. Consequently, consideration of beneficiated phosphate rock production, rather than the DSO, has been the focus of the feasibility study. In the result, the Report demonstrates that beneficiated phosphate rock production at the project is both economically attractive and technically robust.

The authors of the Report have recommended that the Company and GB Minerals AG continue to advance the project for beneficiated phosphate rock production to the engineering design and construction stages and to seek the necessary project financing and off-take agreements.

About Plains Creek Phosphate Corporation

Plains Creek Phosphate Corporation is a Canadian mining and exploration company focused on advancing the Project in Guinea- Bissau , West Africa through the company, GB Minerals AG. The Project currently comprises a phosphate deposit consisting of one continuous flat lying phosphate bed with a Mineral Resource estimate, disclosed in the Company's Feasibility Studies on the Project in accordance with National Instrument 43-101, which defines a Measured Resource of 64. 6 MT at an average grade of 29.11% P2O5, an Indicated Resource of 28.1 Mt at an average grade of 27.68 % P2O5, and an Inferred Resource of 18.3 Mt at an average grade of 28.66 % P2O5 and states total proven and probable reserves of 33.0 Mt (dry) with an average ROM P2O5 grade of 30.4%. The Measured and Indicated Resource estimates stated above are inclusive of the resources comprising the Proven and Probable Reserve estimates. The Feasibility Studies are authored by the Qualified Persons listed above, are filed on SEDAR and are publicly available under the Company's profile at www.sedar.com. A two-phased development is planned for the Project as an open pit mining operation. Phase One consists of a 1. 3 Mt per year phosphate rock product direct shipping option project or a 1.0 Mt per year beneficiated phosphate rock concentrate project and Phase Two consists of the production of 2.0 Mt per year of phosphate rock concentrate and includes a beneficiation plant and associated infrastructure, pipeline and port. As indicated above, the supporting reports are under amendment, and the Company will promptly disclose if any material changes to a mining study or mineral reserves result from amendments to its reports.

[hispeedsoul]

Yup. Damn shame.

[SPARK]

After rs...watch that float fill up from debenture..

[SPARK]

All that for a higher sp...that won't last~

[hispeedsoul]

Yea. I'm pissed about this. Sent Carson an email. He will not respond.

[SPARK]

I thought it was tiny already..a RS is nuts imo~

[hispeedsoul]

No

[SPARK]

Do you know the current float?

[hispeedsoul]

"In connection with the issuance of the Debentures, Plains Creek agreed to use its best efforts to cause a Common Share consolidation to become effective on a 20-to-1 basis on or prior to March 15, 2013 (the “Proposed Consolidation”)."

Am I reading this correctly? Is this a R/S? Looks like Aterra Capital is pushing us into one.

From Early report release on Sedar Jan 16th -

Pursuant to a voting trust agreement dated January 15, 2013 entered into between Aterra, Plains Creek and certain other holders of Common Shares, Aterra has agreed to vote all its Common
Shares in favour of the Proposed Consolidation at the meeting of shareholders of Plains Creek to be held to approve it.

[SPARK]

Thanks~

[hispeedsoul]

Explanation:

Aterra Investments Acquires Secured Convertible Debentures of Plains Creek
Toronto, Ontario – January 16, 2013: Aterra Investments Limited (“Aterra”) announces it acquired
on January 15, 2013, in a private placement, $1,000,000 aggregate principal amount of secured
convertible debentures (“Debentures”) of Plains Creek Phosphate Corporation (“Plains Creek”) due
March 31, 2014. The Debentures bear interest at 10% per annum. Every $1,000 principal amount of
Debentures is convertible at any time, at Aterra's option: (a) initially, into 10,000 common shares of
Plains Creek (“Common Shares”) at a price of $0.10 per share; and (b) in the event of a share
consolidation by Plains Creek, at a conversion price per share equal to the greater of (i) $0.01 per
share times the consolidation ratio, and (ii) the minimum allowable conversion price of $0.10 per
share under the policies of the TSX Venture Exchange. In connection with the issuance of the
Debentures, Plains Creek agreed to use its best efforts to cause a Common Share consolidation to
become effective on a 20-to-1 basis on or prior to March 15, 2013 (the “Proposed Consolidation”).
At the time of Debenture conversion, any and all accrued interest is also convertible at Aterra’s
option into Common Shares at the applicable conversion price.
Aterra also owns 28,125,000 Common Shares (the “Owned Shares”) and warrants to purchase an
additional 14,062,500 Common Shares (the “Warrant Shares”). Assuming Aterra were to fully
convert its $1,000,000 aggregate principal amount of Debentures (but none of the interest) and
exercise all its warrants, then (a) if such conversion and exercise were to occur before the
Proposed Consolidation became effective, Aterra would acquire 10,000,000 Common Shares upon
conversion of the Debentures, representing approximately 2.4% of the then outstanding Common
Shares, and the Common Shares acquired upon such conversion, together with the Owned Shares
and the Warrant Shares, would represent approximately 12.7% of the then outstanding Common
Shares, and (b) if such conversion and exercise were to occur after the Proposed Consolidation
became effective, Aterra would acquire 5,000,000 post-consolidation Common Shares upon
conversion of the Debentures, representing approximately 19.9% of the then outstanding postconsolidation
Common Shares, and the post-consolidation Common Shares acquired upon such
conversion, together with the Owned Shares and the Warrant Shares, would represent
approximately 28.3% of the then outstanding post-consolidation Common Shares.
Aterra acquired the Debentures for investment purposes and continues to monitor the business,
prospects, financial condition and potential capital requirements of Plains Creek. Depending on its
evaluation of these and other factors, Aterra may from time to time in the future increase or
decrease its ownership, control or direction over the Common Shares or other securities of Plains
Creek through market transactions, private agreements, subscriptions from treasury or otherwise.
For further information, including a copy of the corresponding report filed with Canadian securities
regulators, contact:

[hispeedsoul]

I emailed IR, no response.

[SPARK]

Yeah was wondering the same..this deal is just to pay the bills~

[hispeedsoul]

From PR - "Security for the Debentures shall become enforceable upon the occurrence of certain events of default, which will include, among other things, if the Company fails to meet certain restructuring requirements pursuant to the terms of the Debentures on January 31, 2013 and March 15, 2013, respectively"

What restructuring requirements?

[hispeedsoul]

Special and Annual Meeting (Amended)
January 9, 2013
Alberta Securities Commission
British Columbia Securities Commission
Ontario Securities Commission
TSX Venture Exchange
February 4, 2013

Dear Sirs,
Re: PLAINS CREEK PHOSPHATE CORPORATION
We are pleased to advise you of the details of the upcoming meeting of the Security Holders of

PLAINS CREEK PHOSPHATE CORPORATION:
Meeting Type: Annual & Special Meeting

CUSIP:72650E101
Meeting Date:March 7, 2013
Record Date for Notice:February 4, 2013
Record Date for Voting:February 4, 2013
Beneficial Ownership Determination Date:February 4, 2013
Class of Securities Entitled to Receive Notice:COMMON SHARES
Class of Securities Entitled to Vote:COMMON SHARES
Meeting Location:Vancouver

We are filing this information in compliance with the Canadian Securities Administrators' National
Instrument 54 - 101 regarding Shareholder Communication, and in our capacity as the agent for
PLAINS CREEK PHOSPHATE CORPORATION.
Regards,
"CHRISTABELLE ZHANG"
CHRISTABELLE ZHANG
Client Services

[hispeedsoul]

News - http://www.reuters.com/finance/stocks/PCP.V/key-developments/article/2670834

[hispeedsoul]

Phosphate Outlook 2013

http://potashinvestingnews.com/6812-phosphate-outlook-2013-supply-demand-market-price-growth-economy.html

[hispeedsoul]

We are pleased to advise you of the details of the upcoming meeting of the Security Holders of
PLAINS CREEK PHOSPHATE CORPORATION:
Meeting Type: Special Meeting
CUSIP:72650E101
Meeting Date: January 18, 2013
Record Date for Notice:December 18, 2012
Record Date for Voting:
Beneficial Ownership Determination Date:
Class of Securities Entitled to Receive Notice:COMMON SHARES
Class of Securities Entitled to Vote:COMMON SHARES
Meeting Location:Vancouver



We are filing this information in compliance with the Canadian Securities Administrators' National
Instrument 54 - 101 regarding Shareholder Communication, and in our capacity as the agent for
PLAINS CREEK PHOSPHATE CORPORATION.
Regards,
"CHRISTABELLE ZHANG"
CHRISTABELLE ZHANG

[hispeedsoul]

Damn BCSC. They seem to always get involved in every stock I'm in. BCSC is absolutely ridiculous.

[Not so young Turk]

Big volume today... all at the same time in two 4 million chunks of shares followed by a 1.5 million chunk. Sounds like someone knows something considering the CEO is over in India wheeling and dealing with the Indians who would likely want to own a mine rather than go through some cartel to buy phosphate.

[SPARK]

Thanks for the update..coups d'état tend to scare investors away..we'll see what develops from here~

[hispeedsoul]

Talked with Carson. The CEO is currently in India negotiating with strategic partners and/or offtake partners. Carson said while the coup did slow things down, now that the BFS is complete we can move forward. He said traditionally, Indian and Chinese groups are not as concerned with political risk as groups in North America, so we'd be surprised that the political strife has little affect on finding a partner.

[hispeedsoul]

Freakin kiddin me. .005?

[hispeedsoul]

Geez, didn't think this would drop to a penny on completed BFS and working with Nedbank / Ecobank to find strategic partners and off take agreements to develop mine. I know there is political strife in Guinea Bissau, but developments are still moving forward and Chinese are investing.

[hispeedsoul]

From the recent (Oct. 29th) MD&A

The Company appointed Nedbank Capital, a division of Nedbank Limited (“Nedbank Capital”) and Ecobank Capital
(“Ecobank”) as financial advisors with a Lead Arranger Mandate for the project financing of GBM AG’s Farim
Project in Guinea-Bissau, West Africa. The Company plans to obtain a strategic partner, who would be prepared to
contribute towards the corporate funding and the project level funding necessary to fund the Company’s exploration,
corporate overhead and operation cost, and off take agreements, as part of the development of the Project. The off
take agreements and /or a strategic partner are an integral part of the Nedbank / Ecobank financing package.

[hispeedsoul]

http://www.macauhub.com.mo/en/2012/11/05/chinese-project-to-link-bissau-by-motorway-to-other-west-african-capitals/

This tells me the Chinese will probably be getting involved in our project. I expect a buyout or JV soon.

[hispeedsoul]

News!
http://finance.yahoo.com/news/plains-creek-announces-positive-feasibility-211600969.html

[hispeedsoul]

Plains Creek confirms 30 September 2012 completion date for the 1 million tonne per annum Feasibility Studies and announces $5 million private placement

VANCOUVER, Sept. 25, 2012 /CNW/ - Plains Creek Phosphate Corporation ("Plains Creek" or the "Company") (TSX-V: PCP) is pleased to confirm the 30thSeptember 2012 completion date for the 1 million tonne per annum Feasibility Studies and announces a private placement of up to $5 million.



One Million tonne per Annum Feasibility Studies



Based on the previously announced decision (August 23, 2012) that the Company had decided to prepare a Feasibility Study for a one million tonne per annum phosphate rock concentrate project, the Company wishes to confirm that GBM Minerals Engineering Consultants Limited ("GBMMEC"), the Company's project managers, have confirmed that this Feasibility Study will be completed by September 30, 2012.



In addition, the Company has requested GBMMEC to prepare a 1 million tonne per annum Direct Shipping Option (DSO) Feasibility Study that is expected to be completed in the same time frame.



The Company will review these Feasibility Studies and expects to disseminate a News Release during the later part of the following week to describe the results of the Feasibility Studies.



$5 million Private Placement



The Company wishes to announce the terms of a private placement of up to $5 million that will be undertaken to fund working capital, ongoing detailed engineering and design and discussions and negotiations with offtakers, strategic investors and the project level funding necessary to develop the Farim Phosphate Project.



Under the terms of the up to $5 million private placement, the Company will offer up to 100 million Units at a price of $0.05 per Unit. Each Unit will be comprised of one common share and one half common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder to acquire a Common Share at a price of $0.10 per share for a period of 18 months from the date the Warrant is issued.



Two Million tonne per Annum Phosphate Rock Concentrate Bankable Feasibility Study



Phase Two beneficiation of the Farim Phosphate Project contemplates two million tonnes per annum of phosphate rock concentrate to process the balance of the phosphate resource existing after the first phase of one million tonne per annum. The Feasibility Study for the two million tonne per year phosphate rock beneficiation project will be completed by October 31, 2012 to allow completion of the Feasibility Studies for the one million tonne per year projects.



Summary



The Company is investigating three production scenario alternatives for the progressive development of the Farim Phosphate Project, depending on the phosphate market conditions, the economic and political climate in Guinea Bissau and the availability of capital and skilled manpower to develop the Farim Phosphate Project:



the 1 million tonne per annum direct shipping option (DSO);

the 1 million tonne per annum phosphate rock concentrate beneficiation; and

the 2 million tonne per annum phosphate rock concentrate beneficiation.



About Plains Creek Phosphate Corporation:



Plains Creek Phosphate Corporation is a Canadian mining and exploration company focused on advancing the Farim Phosphate Project located in Guinea-Bissau, West Africa. The Farim Project currently comprises a high grade phosphate deposit consisting of one continuous flat lying phosphate bed with a Mineral Resource estimate disclosed in accordance with NI 43-101 in a Preliminary Economic Assessment Technical Report dated September 5, 2012 (the "PEA") that defines a Measured Resource of 64.6 Mt at an average grade of 29.11% P2O5, an Indicated Resource of 28.1 Mt at an average grade of 27.68 % P2O5 and an Inferred Resource of 18.3 Mt at an average grade of 28.66 % P2O5. Three alternate development plans are being considered for the Farim Phosphate Project as an open pit mining operation. Phase One, comprising either a Direct Shipping Option Project with an annual phosphate production of 1 Mt per annum or a 1 Mt per annum phosphate rock concentrate project, and Phase Two which consists of the production of 2 Mt per annum of phosphate rock concentrate. The PEA was prepared by GBM Minerals Engineering Consultants Limited ("GBMMEC") in conjunction with Golder Associates (U.K.) Ltd ("Golder"), all of whom are independent of the Company. The PEA is filed on SEDAR and is available under the Company's profile at www.sedar.com.



The Company's shares are listed on the TSX Venture Exchange under the trading symbol "PCP". For additional information, please visit us at www.plainscreek.com.



Forward-Looking Statements



Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward-statements and the Company undertakes no obligation to update statements. Such forward looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. In addition, pursuant to National Instrument 43-101, the Company cautions that mineral resources that are not mineral reserves do not have demonstrated economic viability.



Factors that contribute to risk include, among others, delay or failure to receive regulatory, shareholder or other required approvals to complete the Farim Phosphate Project, timing and ability to raise capital on acceptable terms, not realizing the potential benefits of the Farim Phosphate Project, risks related to the actual results of exploration activities, conclusions of economic evaluations, risks associated with mining and mineral exploration activities, uncertainty in the estimation of mineral resources, including, without limitation, the assumptions on which such estimates are based, changes in project parameters as plans continue to be refined, future prices of metals, economic and political stability in Guinea Bissau, environmental risks and hazards, increased infrastructure and/or operating costs, availability of future financing, labour and employment matters, and government regulation. There is no guarantee that any drill targets or economic mineral deposits will be found on the Plains Creek's properties. For a more detailed discussion of such risks and other factors, refer to the most recent Management Discussion and Analysis of the Company filed with Canadian securities regulators available 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.

[hispeedsoul]

NEWS.
http://www.plainscreek.com/news/

[RobertJames]

Plains Creek Provides Update for the Development of the Farim Phosphate Project, Guinea Bissau, West Africa



VANCOUVER, Aug. 28, 2012 /PRNewswire/ - Plains Creek Phosphate Corporation ("Plains Creek" or the "Company") (TSX-V: PCP) is pleased to provide an update on the development of its Farim Phosphate Project located in Guinea Bissau, West Africa.

Preliminary Economic Assessment - Direct Shipping Option

The previously announced Preliminary Economic Assessment ("PEA") for the Direct Shipping Option ("DSO") Project will be filed on SEDAR on or before 15thSeptember 2012.

A presentation has been compiled on the 500,000 tonnes per annum phosphate rock DSO Project and is available on the Company's website - www.plainscreek.com.

Off take Agreements and Strategic Partners

The Company has been active in discussions with potential off-takers for the DSO phosphate rock and the phosphate rock concentrate product. There is a greater preference for the phosphate rock concentrate product from off-takers because of the higher P2O5 content and lower impurity levels (particularly iron and alumina oxides) that result from the beneficiation of the phosphate rock. In addition the phosphate rock would be subject to price discounts due to the lower P2O5 content and impurities compared to the phosphate rock concentrate product.

Plains Creek has also been engaged in discussions with strategic investors who would be prepared to contribute towards the corporate funding of the Company and the project level funding necessary to develop the Farim Phosphate Project.

One Million tonne per Annum Phosphate Rock Concentrate Feasibility Study

Based on the positive results from the PEA DSO and the better off-take demand and prices for the beneficiated phosphate rock concentrate product, the Company has decided to prepare a Feasibility Study for a one million tonne per annum phosphate rock concentrate project. This project combines the advantages of the DSO - namely lower capital investment, time to production, contract mining, higher grade run of mine phosphate, lower stripping ratios and the use of river barges to transport the phosphate rock concentrate product to the Rio Cacheu estuary for transshipment onto ocean going vessels and the better product specifications and prices obtained from beneficiation. This Feasibility Study is slated for completion by 30thSeptember 2012.

Two Million tonne per Annum Phosphate Rock Concentrate Bankable Feasibility Study

The Stage 2 beneficiated two million tonne per annum phosphate rock concentrate project slated to process the balance of the existing phosphate resource will be delayed to allow completion of the above one million tonne per annum phosphate rock concentrate project. This two million tonne per year phosphate rock concentrate project will be completed by 31stOctober 2012.

Summary

The three alternative production scenarios, namely: (1) the DSO product, (2) the 1 million tonne per annum, and (3) the 2 million tonne per annum phosphate rock concentrate product, which have been investigated above will provide the Company with three alternatives for the progressive development of the Farim Phosphate Project, depending on the phosphate market conditions, the economic and political climate in Guinea Bissau and the availability of capital and skilled manpower to develop the Farim Phosphate project.

About Plains Creek Phosphate Corporation:

Plains Creek Phosphate Corporation is a Canadian mining and exploration company focused on advancing the Farim Phosphate Project located in Guinea-Bissau, West Africa. The Farim Project currently comprises a high grade phosphate deposit consisting of one continuous flat lying phosphate bed with a NI 43-101 compliant Mineral Resource estimate that defines a Measured Resource of 64.6 Mt at an average grade of 29.11% P2O5, an Indicated Resource of 28.1 Mt at an average grade of 27.68 % P2O5 and an Inferred Resource of 18.3 Mt at an average grade of 28.66 % P2O5. A two-phased development is planned for the Farim Phosphate Project as an open pit mining operation. Phase One consists of either a Direct Shipping Option Project with an annual phosphate production of 0.5 Mt per annum or a 1 Mt per annum phosphate rock concentrate project and Phase Two which consists of the production of 2 Mt per annum of phosphate rock concentrate and includes a beneficiation plant and associated infrastructure, pipeline and port.

The Company's shares are listed on the TSX Venture Exchange under the trading symbol "PCP". For additional information, please visit us at www.plainscreek.com.



ON BEHALF OF THE BOARD

(Signed) "Carson Phillips"
Carson Phillips
Vice-President, Corporate Development and Director

[hispeedsoul]

Wow, another large volume day. Something certainly is coming.

[SPARK]

Something's comin~

[hispeedsoul]

Wow big volume today. 3 million shares this morning.

[SPARK]

Nice news in a crappy market~