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Tsl, thanks for clearing-it up. So we will know more at the end of the first quarter 2012. I hope it is calendar one and not Fiscal ;o)
vb
VBgood - I agree that there are questions that need to be answered but we are going to be getting quite a few of them relatively soon. The PEA for the Cambridge Process and feasibility for the ThermoPotash will give us a much better handle on costs. Also, when Verde presented in Toronto in September, they indicated that when product registration is complete they will be able to announce the agreements that they have with blenders for offtake of production from the pilot plant. In other words, they will be able to begin producing and selling product before the full-scale production plant is in place. I don't expect that revenue from the pilot plant will be nearly enough to fund construction of the bigger plant but it should help offset ongoing expenses.
If you look at the news releases on the Verde web site, you will see this from 4/7/11:
"Amazon Mining Holding Plc (TSX-V symbol: “AMZ”) ("Amazon” or the “Company”) is pleased to announce that the Minas Gerais State government (“the State”) has signed a memorandum of understanding (“Memorandum”) to provide Amazon with support in terms of potential financing for working capital and fixed investment, with funds administered by the development bank of Minas Gerais (BDMG). The stated objective of the Memorandum is to enable the implementation, by Amazon, of an industrial unit and the installation of a distribution centre located in the State of Minas Gerais destined for the manufacturing and commercialization of ThermoPotash, Potassium Chloride and Potassium Sulfate."
Also the statements from the Brazilian government have repeatedly pointed out their reliance on imported potash and their determination to develop local resources. So it is not a big leap to say that Verde should enjoy very strong support for their efforts and everything we've seen so far indicates that is the case.
Cheers,
tsl
Thanks for posting the link. I was about to do so after market close.
I keyed in on a few KCl production related items in the PR of Nov 30 from the company.
Thanks, Value. I am new to Potash mining. I took a small position today but would like to add on a dips.
Still have questions like how they planning to finance a full construction.. still there is no final date of going into production ... a lots of ifs..
VBgood, here's the source of the article you posted (always good to let readers know where stuff comes from). Kip Keen has been following the Verde story for some time:
-------------
http://www.mineweb.com/mineweb/view/mineweb/en/page72102?oid=140842&sn=Detail&pid=102055
Verde's potash revolution comes down to cost, scalability - analysts
Verde Potash says it can produce KCl from an atypical rock source, a development that, if economical, could upturn potash markets.
Author: Kip Keen
Posted: Friday , 02 Dec 2011
It might take longer then I thought:
"HALIFAX, NS -
A technology with the potential to shake-up the potash fertilizer industry took a step closer to reality on Wednesday as Verde Potash (TSX-V: NPK) reported it had produced potassium chloride (KCl), a typical potash fertilizer, at a pilot plant from non-traditional but potassium-rich source rock, of which it controls some billion tonnes in Brazil.
Potash fertilizers usually come from salts, a mining industry that is dominated by Canpotex, a producer-owned potash cartel in Canada, and the Belorussian Potash Company (BPC). Toronto head-quartered Verde, however, using a proprietary method it calls the Cambridge process looks to wrench the dependence of Brazilian farmers away from such entrenched producers. Verde says its resources could support production as high as six million tonnes KCl a year - just about how much of the stuff Brazil imports. This KCl production plan is part of Verde's two prong strategy which also involves making thermopotash - a novel kind of fertilizer that it also hopes Brazilian farmers may adopt.
But it is a new source of KCl that may strike the greatest fear into the hearts of potash Goliaths now supplying farmers in Brazil.
"We are still early in this process, but if and when Verde is able to demonstrate the economic viability of its Cambridge process, it could have a significant impact on incumbent potash producers (i.e., PotashCorp, Uralkali, Mosaic, etc.) and the potash market overall," Mackie Research analyst Jaret Anderson told Mineweb in an email Thursday morning. "Verde has referenced the potential for a six million tonne per year KCl operation at its Cerrado Verde site in Brazil. If this ultimately comes to pass...Brazil would no longer be importing from the likes of Canpotex, BPC, etc."
And so Anderson warns: "In my view, developments at Verde Potash bear watching by current shareholders of PotashCorp, Mosaic, Agrium, Uralkali and the like."
The key is cost. Analysts contacted by Mineweb agreed that Verde's masterplan for a full scale and victorious assault on the Brazilian potash market rides on the cost of production and how easily it can scale-up the Cambridge process to lofty production counted in the millions of tonnes per year. As it stands, the answer to the question of cost is unknown. But it will soon be fleshed out in a scoping study Verde hopes to release in early 2012.
"We need to see the results of a preliminary economic assessment (scoping study) first to assess the economic potential of making KCI from Verde's potash rock," Octagon Capital analyst Max Vichniakov said in an email. Verde "did not provide much information on the production flow or technological mapping at this stage. We speculate the process involved some sort of combined material (Verde's potash rock, limestone, and sodium chloride) treated at about +1,000 degrees C in a rotary kiln. Clearly input costs of the materials used, reagents, energy and technological complexity will be one of the key components we will be looking at."
For Anderson, in terms of operating costs, $300 per tonne is the magic number. That stands as his estimate on how much it costs to get KCl from the likes of Canpotex to Minas Gerais state in Brazil where many fertilizer processing plants are located. "We don't know where the cost figures will come out, but I would view anything less than US$300 per tonne as being a positive outcome for Verde and its shareholders."
Scalability will also be critical to Verde's success. As Vichniakov put it, the question of whether the pilot process can "be turned into a commercial production facility in Minas Gerais, that would exhibit the same economics, remains to be seen."
Cristiano Veloso, Verde's president and CEO, could not be reached for comment on costs and scalability as of presstime.
But, if Verde shows that it can do just that - produce millions of tonnes of KCl from an atypical source - then traditional potash giants may have cause to quake at the sight of this Brazilian David holding his slingshot bearing potassium-rich stone. And it may not just be Brazil that they have to worry about. What if the technology can be applied elsewhere?
Both Vichniakov and Anderson note there may be potential to develop deposits similar to Verde's in other countries, some of which, it is worth noting, that are outside traditional potash-producing arenas. "US, Egypt, Australia, China also have significant glauconite resources (a closely related mineral to Verde's rock) besides Brazil, so if Verde's process proves to be economical there might be potential interest from those countries," Vichniakov said. "If the process is fairly simplistic and does not involve any technological know-how, we believe it can be easily replicated elsewhere."
Anderson, who also pointed to glauconite deposits in Australia, said, "I believe there will be a number of groups globally that would be interested in both the Cerrado Verde deposit Verde controls (the glauconite material at Cerrado is particularly rich in K2O content) and the patented process they have developed to convert this rock to potassium chloride...While it is too early to put a value on this option, Verde could choose to license its process to others, who could then develop their own glauconite to KCl operations."
Thanks alvik, looks like partial production in 2014 ? Will they have enough capital to accomplish all that without introducing more shares?
One of the most promising junior potash stories has achieved a major milestone.
Late Wednesday, Verde Potash PLC said it successfully produced potassium chloride (or KCl) from a pilot plant at its Cerrado Verde project in Brazil, using material from the deposit. That provides confidence to the market that Cerrado Verde will produce a viable fertilizer product (KCl is the salt produced in Canadian potash mines; Verde is also trying to produce a brand new product called ThermoPotash).
Jaret Anderson, an analyst at Mackie Research Capital, called the news a “big milestone” as it confirms the viability of Verde’s patented technology to produce KCl.
He wrote that the process could be a game changer for the potash industry, noting that Verde said its deposit could produce a whopping six million tonnes of potash a year for more than 20 years (though Verde is studying a scalable production strategy). It is potentially a very important project in Brazil, which relies heavily on potash imports.
Verde shares jumped 70¢, or 10%, to $7.70 in early trading Thursday.
Mr. Anderson maintained a speculative buy rating on the stock and a target of $12.00 a share. However, he noted that he is only attributing 83¢ a share of value to the so-called “Cambridge process” through which Verde has proved it can produce KCl. The next step will be a scoping study to establish the capital and operating costs associated with the Cambridge process. If the results are positive, he expects to give it a lot more value in the future.
“Given today’s news, there is material scope for us to increase our target if and when a positive scoping study is released,” Mr. Anderson wrote in a note.
http://business.financialpost.com/2011/12/01/verde-potash-completes-landmark-test/
Take a look at the latest presentation. Pages 10 & 17 in particular. Most of the ? are answered there.
http://www.amazonplc.com/Theme/AmazonMining/files/Verde%20Potash%20Presentation%20November%202011.pdf
TSX listing maybe in the works.
Low volume low float rules apply.
See who they're working with.
http://www.flogen.com/FraySymposium/?url=home
Formed in 1974, SRK now employs more than 1000 professionals internationally in over 40 offices on 6 continents.
The Group's independence is ensured by the fact that it is strictly a consultancy organisation, holding no equity in any project, and with ownership primarily by staff.
This permits our consultants to provide clients with conflict-free and objective support on crucial issues. This is particularly important for due diligence and feasibility studies, which form a large part of SRK's business.
http://www.srk.com/files/File/Brochure/SRKbro.pdf
FLSmidth & Co. A/S is a global engineering company based in Copenhagen, Denmark. Employing about 11,300 people worldwide, it provides the global cement and mineral industries with plants, machinery, services and know-how. FLSmidth is listed on the Copenhagen Stock Exchange and has offices in more than 40 countries worldwide.
http://www.flsmidth.com/en-US/About+FLSmidth/Our+Business+in+Operation
Messo has been present worldwide in the field of crystallization since more than 50 years with all engineering services for the chemical, the food, the steel technology and the environmental industry, especially in the field of waste water ZLD.
Messo’s credit in the field of crystallization and related purification technologies was already founded by the early Standard-Messo Duisburg. Today, the entire list of Messo references comprises around 700 installations. A list of selected references and those for NaCl plants please find attached.
Messo is expert for all basic types of crystallizers, the FC-, the DTB- and the fluidized-bed (Oslo) crystallizer, this way able to fulfill all market demands in crystal product qualities and the crystal size distribution.
Messo offers the entire plant periphery necessary to complete any crystallizer installation to a crystallization plant out of one hand. This includes pre-treatment stages, all kind of evaporation technologies (MEE, MRC, and Flash), separation by thickeners, hydrocyclones, filters or centrifuges, drying, solids handling, packing, etc.
http://www.messo.com/mde/cmsdoc.nsf/WebDoc/ndkw73hj3a
Hatch is a global multidisciplinary management, engineering and development consultancy. Its group companies have more than 10,000 staff in 65 offices on six continents.
The company was founded in Toronto, Canada, by W.S. Atkins as W.S. Atkins & Associates in 1955. The company initially was involved in subway tunneling and other civil engineering projects, and expanded into metallurgy when Gerry Hatch joined the company in January, 1958. It became known as Hatch in 1962.
Hatch counts among its metals clients the top 20 (as measured by market capitalization) mining and metals companies in the world, including Alcan, Alcoa, BHP Billiton, Barrick Gold, BlueScope Steel, Xstrata (formerly Falconbridge), Vale (formerly Inco) and Rio Tinto.
In 1996 the company began an expansion program by purchasing several aligned engineering companies including Billiton Engineering (1996), Rescan Mining (1998), BHP Engineering (1999), Kaiser Engineers (2000) and Acres International (2004).
Hatch today provides consulting, operations support, technologies, process design, and project and construction management to clients in three principal sectors: mining and metals; energy; and infrastructure.
The company's main offices are in the following countries: Australia, Canada, South Africa, United Kingdom, United States, Chile, Brazil, Peru and China. They also have various smaller offices around the globe.
http://www.hatch.ca/
Hazen Research, Inc. was organized in 1961 to provide process research and development services to the extractive metallurgy and chemical industries. Over the years, we have assembled an experienced and competent staff supported by the laboratory and pilot plant facilities necessary to apply the most appropriate technology to the industrial, commercial, and environmental problems of our clients.
Although the company's original focus was on mining and metallurgical activities, it soon became evident that the skills and knowledge needed to recover metals from ore were equally applicable to removing toxic substances from waste materials of environmental concern.
Hazen's activities have expanded, therefore, into providing knowledge for the practical resolution of industrial waste problems, including not only the best technological processes but also the knowledge of the relevant regulatory and licensing requirements.
Our product is knowledge, the knowledge needed by our clients to make use of the best processes in an increasingly competitive world.
We are dedicated to the principle of quality performance, which means that we intend to meet and exceed each client's expectations.
http://www.hazenusa.com/about.php
Alvik, thanks for re-plying. I am looking for Brazilian potash play and come across Verde by accident. Are the any other good prospects in Brazil?
Verde- when are they planning to go in a full production, I understand they are operating a scale-down plant.
Any information you can share is very much appreciated.
Vb
On my watch list and dip/buy list, too....
A couple of good dips since Oct 1 . . . Maybe more before the projected Q1 2012 release of info from the preliminary economic assessment, but with this news (and then Q1 2012) opportunities may be getting more scarce.
I am guessing traditional potash is much more exportable than the ThermoPotash product, if only by weight per acreage of treatment.
http://www.verdepotash.com/Investors/media-centre/news-releases/news-release-details/2011/Verde-Potash-Successfully-Produces-KCl-from-its-Potash-Resources-Amenable-to-Strip-Mining1127514/default.aspx
Looking better all the time . . . traditional potash product now in addition to the slow-release ThermoPotash product
Has there been any release of production cost per ton on these ?
Volume today Nov 30 on the US side AMHPF was 2140 shares traded.
Maybe with the news after hours today it might get a few new eyes.
Tremendous resource, local market. Small float.
http://www.verdepotash.com/Home/default.aspx
TORONTO, Nov. 30, 2011 /PRNewswire/ - Verde Potash Plc (TSX-V: "NPK") ("Verde" or the "Company") has successfully operated a continuous rotary kiln pilot plant to produce Potassium Chloride ("KCl"), the conventional potash fertilizer. Verde has engaged SRK Consulting (U.S.), Inc. ("SRK") to complete a review of capital and operating costs and should be in a position to reveal results in Q1 2012. This achievement marks a significant possible opportunity for Brazil, one of the world's largest importers and consumers of KCl, to supply more of its potash requirements from its domestic resources.
Verde controls a very large potash resource amenable to strip mining and strategically located in Minas Gerais State, Brazil (see press release August 3, 2011). The Company's current potash resource could support a six million tonnes per annum KCl production scenario for over twenty years, though Verde is considering a scalable production strategy.
The current selling price for KCl in Brazil's Cerrado is US$660/tonne. Brazil imported 6.4 million tonnes of KCl from January to October this year (source: Associacao Nacional para Difusao de Adubos "ANDA").
Verde has made significant progress in deriving an economic scalable production flow sheet for KCl. SRK, Hatch Consulting, GEA Messo, FLSmidth and Hazen Research (the "Engineering Consortium", see below for further details) have assisted the Company in overcoming foreseeable technological and operational challenges by using long established rotary kilns and evaporation/crystallization equipment for this new application.
During this month, the Company successfully operated its pilot plant's rotary kiln validating the production flow sheet. In two tests, KCl was produced continuously for thirty and twenty hours. The kiln feed rate was 130kg per hour. As a result of this progress, the Company has filed two additional patents relating to KCl production.
Given these successes, the Company has commissioned SRK to complete a Preliminary Economic Assessment ("PEA"). SRK is working closely with the rest of the Engineering Consortium to estimate operating and capital costs for KCl production based on the flow sheet developed by Verde and the Engineering Consortium.
Verde initiated KCl production studies for its potash rock in 2008. Over the last three years the Company undertook hundreds of tests pursuing a simple production flow sheet that relied on long proven production technology as well as abundantly and readily available reagents. In 2010, the Company announced a first patent filing as a result of a research agreement with the University of Cambridge and Professor Dr. Derek Fray. In 2011, the Company assembled the Engineering Consortium to advance the project. Below is a summary of the work completed throughout 2011 leading Verde to this point:
First Quarter
Verde, Brazil: Scale up and optimization tests completed at the Company's laboratory in Brazil;
University of Cambridge, U.K.: Further bench tests concluded.
Second Quarter
Hazen Research, Colorado, U.S.: Work began by Hazen's commercial laboratory on research and development to continue scale up work, completing more than 300 tests and more than 6,000 check points assayed in Q3;
Verde, Brazil: Advances on reagent optimization.
Third Quarter
Hazen Research, Colorado, U.S.: Satisfactory results obtained from scale up work;
Discussions with equipment manufacturers regarding equipment specifications and use for KCl production;
FLSmidth, Pennsylvania, U.S.: engaged to test heat consumption;
GEA Messo, Germany: engaged to test and optimize leaching/evaporation/crystallization;
Hatch Consulting, Ontario, Canada: engaged and contributed on the review of the results.
Fourth Quarter
Engineering Consortium: Flow sheet finalized;
SRK: Preliminary Economic Assessment with an updated National Instrument 43-101 technical report to be completed by Q1 2012.
Cristiano Veloso, President and CEO said: "We congratulate Pedro Ladeira, VP Engineering, and the Engineering Consortium for their outstanding achievement. Verde's work to convert our at-surface potash resources into potash fertilizer has the potential to decrease Brazil's import dependency on a commodity essential for feeding the world's growing population of seven billion."
ThermoPotash Progress
Verde's engineering team has also continued to develop its ThermoPotash product. Using the Company's same pilot plant kiln, the team completed work to transfer the pellet making process from pre-calcining (in the kiln) to a post-calcine step. This modification to the flow sheet reduces heating requirements and water consumption, and produces better performing pellets. In the improved process flow sheet the kiln is fed with powder as opposed to wet pellets.
The Company has also tested the process of air cooling the product from the kiln using the same type of dryer employed by the cement industry. This process adjustment reduces heat consumption by pre-heating air entering the kiln with hot gases resulting from cooling the material with air. In the original flow sheet, the kiln emptied its contents into tanks of water to cool the product. FLSmidth has also undertaken independent tests to verify achievements and propose equipment.
Verde's Brazilian pilot plant facility has been successfully re-configured for the noted changes and has produced over 60 tonnes of ThermoPotash. The changes have reduced heat input and the process' use of water. Verde has also operated a leased semi industrial plant where it produced 70 tonnes of ThermoPotash.
Cristiano Veloso, President and CEO said: "We are pleased with the successful conclusion of our pilot plant tests for ThermoPotash production. Pedro Ladeira's extensive cement production experience was fundamental in improving the original production flow sheet".
About the Engineering Consortium
FLSmidth
FLSmidth of Denmark is the leading supplier of equipment and services to the global cement and minerals industries. FLSmidth is a global company with a local presence in 50 countries world-wide, employing more than 12,000 people. FLSmidth supplies everything from single machinery to complete cement plants and minerals processing facilities, including services before, during and after the construction. FLSmidth is listed on NASDAQ OMX Copenhagen and has more than 42,000 registered shareholders.
GEA Messo
GEA Messo of Germany has focused worldwide in the field of crystallization for more than 50 years with all engineering services for the chemical, food, steel technology and environmental industries. Messo references comprise around 700 installations. Messo offers the entire plant periphery necessary to complete any crystallizer installation for a crystallization plant. Messo operates a 300m² mini plant test laboratory for the development of the wide range of the process designs needed in the field of crystallization plants.
Hatch Consulting
Hatch Consulting of Canada supplies engineering, project and construction management services, process and business consulting and operational services to the mining, metallurgical, energy and infrastructure industries.
Hazen Research, Inc.
Hazen Research of the United States was organized in 1961 to provide process research and development services to the extractive metallurgy and chemical industries. Over the years, it has assembled an experienced and competent staff supported by laboratory and pilot plant facilities. Services include laboratory-scale research on new processes or adaptation of known technology to new situations, followed by pilot plant demonstration, preliminary engineering, and cost analysis. Projects range from beaker-scale experiments and analyses to multimillion-dollar continuous pilot or demonstration plants.
SRK Consulting (U.S.), Inc.
SRK Consulting of the United States is an independent, international consulting practice that provides focused advice and solutions to clients, mainly from earth and water resource industries. For mining projects, SRK offers services from exploration through feasibility, mine planning, and production to mine closure. Formed in 1974, SRK now employs more than 1,200 professionals internationally in 38 permanent staffed offices on 6 continents.
About Verde Potash Plc
Verde is a fertilizer exploration and development company; it was founded and is led by Brazilians. Verde is developing the Cerrado Verde project in Brazil, a source of potash-rich rock from which the Company plans to produce a potash fertilizer product. Founded as Amazon Mining Holding Plc in 2005, the Company changed its name to Verde Potash Plc in April 2011 to better reflect its core business.
About the Cerrado Verde Potash Project
Cerrado Verde is a unique project: 1) its high grade potash rock outcrops and is amenable to strip mining, allowing fast construction of a scalable operation; 2) it is located in the midst of the world's third largest and fastest growing fertilizer market; 3) it connects to Brazil's largest fertilizer distribution districts via existing and high quality infra-structure.
Qualified Person
All scientific and technical disclosures in this press release have been prepared under the supervision of Neal Rigby and Robert Bowell of SRK Consulting who are Qualified Persons within the meaning of National Instrument 43-101.
On behalf of the Board of Directors of Verde Potash, Cristiano Veloso, President and CEO.
http://www.verdepotash.com/Investors/media-centre/news-releases/news-release-details/2011/Verde-Potash-Successfully-Produces-KCl-from-its-Potash-Resources-Amenable-to-Strip-Mining1127514/default.aspx
Verde is a fertilizer exploration and development company; it was founded and is led by Brazilians. Verde is developing the Cerrado Verde project in Brazil, a source of potash-rich rock from which the Company plans to produce a potash fertilizer product. Founded as Amazon Mining Holding Plc in 2005, the Company changed its name to Verde Potash Plc in April 2011 to better reflect its core business.
Is anyone here? I am new , what Verde has to do with Amazon min. ?
Verde Reports Strategic Resource of High Purity Limestone
TORONTO, Sept. 26, 2011 /CNW/ - Verde Potash (TSX-V : "NPK") ("Verde" or the "Company") is pleased to announce that the Company has received an independent resource estimate for its 100% owned Calcario Limestone Project located in Minas Gerais State, Brazil ("Calcario Limestone"). The resource includes 89 million tonnes in the indicated category at an average grade of 54.71% CaO and 180 million tonnes in the inferred category at an average grade of 54.7% CaO (no cut-off applied).
The maiden resource comprises the Calcario targets with a total of 15 vertical holes drilled with drill hole spacing ranging from 200m to 400m, totaling 1,395m of drilling. The drilling was completed following a grid pattern over an area of 275 hectares.
Commenting, President and CEO, Cristiano Veloso, said: "We are excited by the evident potential of the Calcario Limestone. As a possible source of limestone for use in the production of ThermoPotash, it will give the company security of supply and price control over a major input cost. This resource could open up new opportunities to realize value for shareholders, and the company is assessing opportunities to realize additional value from the limestone in the agricultural market as a soil conditioner and as feedstock in the cement industry."
The resource estimate is reported below in Table 1 using no cut-off grade:
Table 1 - Grade Tonnage Report Calcario Project Inverse distance Weighted to Power two (IDW2) estimate (Block Model - 50mE X 50mN X 10mRL) (no cut off utilised)
Category
Indicated inferred
Tonnage SiO2 CaO K2O P2O5 Al2O3 Fe2O3 MgO TiO2 MnO (Mt) % % % % % % % % %
89 1.08 54.71 0.06 0.06 0.28 0.11 0.56 0.03 0.02 180 0.98 54.65 0.05 0.06 0.25 0.11 0.54 0.03 0.02
Note: l Appropriate rounding has been applied
The Calcario Limestone project is located within the Bambuí meta-sedimentary group of rocks which host the company's Cerrado Verde Potash Project located approximately 100 km away by road. The limestone is characterized by a dolomitic limestone overlaying a darker calcitic limestone unit; it is over 50m thick and has been defined by drilling over a 4km strike. The fine-grained limestone is characterized by a low silica content. Field and development work has been initiated by Verde to support a definitive Feasibility Study for ThermoPotash to be completed first half of 2012.
Qualified Person
Mr. Beau Nicholls, MAIG consulting geologist to Verde is the Qualified Person with respect to NI 43-101 at the Calcario Limestone Project. Reverse Circulation (RC) and Diamond Core (DC) drilling yielded samples which were collected by Verde's technical staff at intervals of between one and two meters, utilizing internationally accepted drilling and sampling techniques. All reverse circulation drill samples were weighed on site to ensure adequate recovery. DC drill holes consist predominantly of HQ core. DC is logged and sawn at the Matutina base camp, with half core samples sent to the laboratory. All samples are analyzed for K2O using standard Whole Rock XRF by SGS Geosol Laboratory, in Belo Horizonte. QA/QC programs show industry
acceptable precision and accuracy limits on both Certified Laboratory internal Standards and the Companies duplicate samples. Bulk Density samples are routinely measured using core billets from DC drilling, and the company has also undertaken independent validation checks of the density results with excellent precision returned. BNA Consultoria e Sistemas Ltda, under the direction of their Resource Geologist, Mr. Volodymyr Myadzel, MAIG who is a Qualified Person with respect to NI 43-101, validated the database and QA/QC programs, undertook wire-framing of the grade shells, block modeling and resource estimation and has approved this news release.
Verde Potash released a billion tonne resource at its Cerrado Verde potash project in Brazil, making for a massive increase over its previous inferred tonnage.
Verde Potash (TSX-V: NPK) catapulted its potash-containing resource base to over a billion tonnes with the release of a new resource estimate for its Cerrado Verde potash project in Minas Gerais State, Brazil.
The latest resource estimate includes the junior's first tonnage in the indicated category and expands now hefty inferred resources eleven-fold to over a billion tonnes. At a 7.5 percent cut-off, Verde reported 74 million tonnes @ 9.22 percent K2O in indicated resources and 1.1 billion inferred tonnes @ 9.37 percent K2O.
The latest resources, which are within 80 metres of surface, add to those Verde has already defined at the Funchal Norte deposit at Cerrado Verde where there are 105 million inferred tonnes @ 10.3 percent K2O.
Verde, which recently changed its name from Amazon Mining, is jockeying with other junior potash companies to break into Brazil's fertilizer market, widely expected to grow as the agricultural sector in South America's largest country expands.
Verde's strategy in part rests on convincing customers there's a place for products from its unconventional potash deposit, where mineralization comes as potassium silicate in rock rather than the more typical potassium chloride from salt-based mines.
Verde's initial plans are to produce a calcined pellet product called thermopotash - yet to be adopted by farmers, but which Verde argues has advantages over traditional potash products such as being longer-lasting - though it may also create a conventional potassium chloride product using a newly developed extraction process.
To convince customers to adopt its product, Verde has reached out to a wide range of partners in agri-business to test the effectiveness of thermopotash. Early results have been positive, Verde has reported.
Indeed, success for Verde at this point hinges on those tests more than proving resource size, according to Max Vichniakov, who covers Verde as a mining analyst for Octagon Capital.
Vichniakov noted in an email that while the resource estimate was sizeable, indicating "a significant upside of the Cerrado Verde project," its scope was expected.
Instead, Vichniakov said, "we believe commercialization tests of the ThermoPotash product (Thermo-K) become one of the prime catalysts for the project going forward," Vichniakov said
"So from here, we expect (Verde) to report the commercial test results from Embrapa, the Brazilian developer of fertilizer alternatives for sugarcane, and Sekita, the Brazilian vegetable producer, in Q4/11. We think those results will the focus and underline the economics of the project."
If Verde can convince farmers to buy its potash, then the now billion-tonne plus resource could guarantee supply many years down the road. As Verde's President and CEO Cristiano Veloso put it in a prepared statement: "It is evident that we have a long life asset that could supply Brazil's potash needs well into the future providing our development program succeeds."
According to Verde's latest project development timeline it expects to have a feasibility study out in early 2012, begin mine construction in the fourth quarter 2012, and commission a mine in late 2013.
In a scoping study released last year Verde made the case for an open-pit potash mine based on the much smaller Funchal Norte inferred resource. In it Verde outlined two mining scenarios, one producing 1.1 million tonnes a year of calcined potash pellets grading 8-10 percent K2O and the other at double that output.
In the larger mining scenario Verde estimated $218 million capital costs, $36 per tonne operating costs, and a two-year payback period.
But with a larger resource to work from now, Verde could contemplate scaling up project size.
Verde also hinted in its latest press release that resources may grow as those defined so far only come from five of 13 targets at Cerrado Verde. Verde said it would release more resource estimates in the fourth quarter 2011.
http://www.mineweb.com/mineweb/view/mineweb/en/page72102?oid=132818&sn=Detail&pid=102055
Kip Keen
Wednesday , 03 Aug 2011
Open Pittable 1.1 Billion Tonnes at 9.36% K2O Added to Cerrado Verde Potash Project, Brazil
07:48 EDT Wednesday, August 03, 2011
TORONTO, ONTARIO--(Marketwire - Aug. 3, 2011) - Verde Potash (TSX VENTURE:NPK) ("Verde" or the "Company") is pleased to announce that the Company has received an independent resource estimate for the Cerrado Verde Potash Project located in Minas Gerais State, Brazil ("Cerrado Verde"). The estimate comprises an indicated resource of 74 million tonnes of K2O with an average grade of 9.22% K2O and an inferred resource of 1.07 billion tonnes of K2O with an average grade of 9.37% K2O (applying a 7.5% K2O cut-off). Potash mineralization is found from surface to a maximum depth of 80 metres, rendering the resource amenable to open pit mining.
The new resource was estimated for five out of 13 of Cerrado Verde's targets, in which 8,950m of drilling was performed in 143 holes with a collar spacing ranging from 400m by 400m to 200m by 200m. However, an additional eight targets have been tested, but are not included in this release, thus completing the 26,000m drill program. The additional resource calculation will be reported during Q4/2011.
Commenting, President & CEO, Cristiano Veloso, said: "We are encouraged by these numbers, they reinforce our belief in the impressive scope of Cerrado Verde. It is evident that we have a long life asset that could supply Brazil's potash needs well into the future providing our development program succeeds."
Brazil's annual K2O consumption is approximately 4 million tonnes. The new resource represents over 90 million tonnes of K2O.
The resource estimate is reported below in Table 1 using a 7.5% K2O cut-off grade:
Table 1 – Grade Tonnage Report Cerrado Verde Potash Project
Inverse Distance Weighting with power two (IDW2) estimate (Block Model - 50mE X 50mN X 10mRL)
7.5% K 2 O cut off utilised
Target Tonnage (Mt) Average Grade (% K 2 O)
Indicated
6 23.25 8.83
7 50.79 9.39
TOTAL indicated 74.04 9.22
Inferred
4 74.43 9.20
6 47.85 8.84
7 873.59 9.45
10 28.50 10.10
11 46.79 8.27
TOTAL inferred 1071.16 9.37
Note:
Appropriate rounding has been applied
Table is EXCLUSIVE of Target 8, Funchal Norte, inferred resource estimate completed by Coffey Mining in March 2010 (105 million tonnes at 10.3% K2O (using a 7.5% K2O cut-off)). See Release dated March 8, 2010.
The resource estimate is reported below in Table 2 using a 9% K2O cut-off grade:
Table 2 – Grade Tonnage Report Cerrado Verde Potash Project
Inverse Distance Weighting with power two (IDW2) estimate (Block Model - 50mE X 50mN X 10mRL)
9% K 2 O cut off utilised
Target Tonnage (Mt) Average Grade (% K 2 O)
Indicated
6 10.32 9.60
7 30.55 10.09
TOTAL indicated 40.87 9.97
Inferred
4 45.16 9.69
6 20.77 9.63
7 582.20 10.05
10 25.22 10.33
11 5.13 10.15
TOTAL inferred 678.48 10.02
Note:
Appropriate rounding has been applied
Table is EXCLUSIVE of Target 8, Funchal Norte, inferred resource estimate completed by Coffey Mining in March 2010 (105 million tonnes at 10.3% K2O (using a 7.5% K2O cut-off)). See Release dated March 8, 2010.
Verde has also initiated field and development work to support a Definitive Feasibility Study to be completed first half of 2012.
Cerrado Verde is a 100% owned project of the Company and is defined by flat lying potash rich metasiltstones belonging to the Serra da Saudade Formation of Neoproterozoic age. The metasiltstone beds are between 30m and 80 metres thick. The Company has mapped the distinctive green unit over a strike length of 100km within their granted permits.
Qualified Person
Beau Nicholls, MAIG consulting geologist to Verde is the Qualified Person with respect to NI 43-101 at Cerrado Verde. Reverse Circulation (RC) and Diamond Core (DC) samples were taken at between one and two metre intervals by Verde technical staff, utilizing internationally accepted drilling and sampling techniques. All reverse circulation drill samples are weighed on site to ensure adequate recovery. DC drill holes consist predominantly of HQ core. DC is logged and sawn on site with half core samples sent to the laboratory. All samples are analyzed for K2O using standard Whole Rock XRF by SGS Geosol Laboratory, in Belo Horizonte. QA/QC programs show industry acceptable precision and accuracy limits on both Certified Standards and duplicate samples. An additional 120 Umpire samples were sent to ALS laboratory and returned excellent precision when compared to SGS Geosol results. Bulk Density samples are routinely measured in all DC drilling, and the company has also undertaken independent validation checks of the density results with excellent precision returned. BNA Consultoria e Sistemas, under the direction of Volodymyr Myadzel, MAIG who is a Qualified Person with respect to NI 43-101, validated the database and QA/QC programs, undertook wire-framing of the grade shells, and performed the variography, block modeling and resource estimation and has approved this news release.
Other Matters
Verde has issued 20,000 additional share purchase options to the CEO, 50,000 options to Officers of the company and 130,000 options to consultants and staff. These sets of share purchase options are exercisable at $7.14, expiring August 3, 2016 and pending TSX regulatory approval.
About Verde Potash
Verde Potash, founded and led by Brazilians, is a fertilizer exploration and development company. It is developing Cerrado Verde project in Brazil, a source of potash-rich rock from which Verde plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product named ThermoPotash. Founded as Amazon Mining in 2005, the Company changed its name to Verde Potash in April 2011 to better reflect its main business. The Company is also exploring for phosphate and limestone.
On behalf of the Board of Directors of Verde Potash, Cristiano Veloso, President and CEO
To view Figure 1: Map showing all target, please visit the following link: http://media3.marketwire.com/docs/NPK83.jpg.
Northern Miner review. Aug. 1, 2011
the second link on this search for the author gives a link to the .pdf
I can't c/p the direct link, nor the .pdf contents, for some reason.
I haven't read it yet but it seems to be an in depth review.
http://www.google.com/search?q=Ian+Bickis+Belo+Horizonte%2C+Minas+Gerais%2C+Brazil&ie=utf-8&...
I can't say when but this will be a $30 to $40.00 stock.
July presentation link. 32 mil float. Gov support. Surface resource. Timeline included. Transport savings $200 ton vs Sask. potash
NPK.V or
AMHPF On the US side
http://www.amazonplc.com/Theme/AmazonMining/files/Edition%20III%20-%20July%202011.pdf
On my watch list and dip/buy list, too....
pretty quiet here - but nice news lately (proper grade limestone quarry near, great slow-release properties, etc.)
so what is up, pps too high for much interest now, no expectation of large % moves gone ?
as I am not in, this is on my buy on major dip (market driven?) list
snip :
TER: Potash has somewhat of an inverse relationship to uranium prices. Earlier this month, corn futures reached an all-time high, which ultimately means higher food prices for all of us. It also means there's a greater need for fertilizer and that bodes well for junior mining companies looking for potash. Do you believe that potash prices will remain as high as they are now?
RM: Yes I do and going higher. Food and how we grow it are going to be dominant investment themes for decades to come. Our population increases geometrically. Our food supply can only increase arithmetically. We've got major problems in addition to our growing population. One of the biggest threats we are facing is the loss of arable land that was used for food production. Land is being used for biofuels, topsoil is being eroded away and the agricultural land base is being paved over. We're destroying our freshwater aquifers. But world population growth and three billion people climbing the protein ladder are the elephants in the dining room. Tonight, 220,000 new mouths will need to be fed at the dinner table.
TER: How does potash mining differ from gold or copper mining?
RM: Unlike other resource plays, potash does not have a cycle. Demand is always going to be there, which makes potash an excellent play in a long-term agricultural commodities bull market. Potash markets are never disrupted by political interference. Food shortages will always trigger social and political instability, such as the riots in the Middle East and Africa. All governments fear a hungry populous.
Companies like Agrium Inc. (NYSE:AGU) and PotashCorp (TSX:POT; NYSE:POT) have very solid bottom lines, but they are mature companies. Investors should start moving down the value chain to junior companies with big potash resources that are going to create value for their shareholders.
TER: What companies fit that bill right now?
RM: We've been following three companies on Ahead of the Herd for quite some time now.
Verde Potash (TSX.V:NPK), formerly Amazon Potash, is putting together a fairly large project in Brazil. By the time it finishes, I wouldn't be surprised if it had enough potash to supply the Brazilian market, the largest potash market in the world, for 30 years.
The company also has phosphate at the Apatita Project and should have a resource calculation out by the end of the third quarter. It is also planning drilling on five other targets bordering their thermal potash product, the Cerro Verde. Recent news suggests they will have a limestone resource as well. This is a company that is definitely in the right area at the right time with the right resources.
The thing about this company that most people don't realize is that if the potash price is $430/t in Saskatchewan, Canada, it would take $100/t to reach a port in Brazil. Then it would take another $100/t to get it to a blending facility near farmers. The price that Verde's competing against is not $430?it's $630?they are already close to that blending facility. According to the last test the company did on its product, thermal potash is about 17% to 19% more effective than KCI, or typical potash.
TER: Verde's chairman, Peter Gundy, was an executive with PotashCorp. He certainly has some significant background in the potash mining business. He also has the right connections to get the money necessary to bring this company forward.
RM: Absolutely true, and let's not forget to mention the tremendous efforts of President and CEO Cristiano Veloso, who has done an amazing job pulling it all together, and VP of Corporate Development Jed Richardson, who has been there from day one. Also the government of the Brazilian state of Minas Gerais has signed a memorandum of understanding regarding support for potential financing.
http://www.businessinsider.com/rick-mills-which-stocks-will-win-race-to-feed-a-power-hungry-world-2011-6#ixzz1Qb92IYTh
Great news and great movement in price.
I'm sorry the Verde Potash sale is now over. We will be returning to our regular price forthwith.
http://www.einnews.com/pr-news/457348-major-high-grade-limestone-discovery-confirmed-by-drilling-
Verde Potash Increases Drilled Surface Area by 2200% at Cerrado Verde
http://www.amazonplc.com/latest-news/161-verde-potash-increases-drilled-surface-area-by-2200-at-cerrado-verde-.html
Additional Detail on Sekita ThermoPotash Product Trials
Apr. 25, 2011 (Marketwire Canada) --
TORONTO, ONTARIO -- Verde Potash (TSX VENTURE:AMZ) ("Verde" or the "Company") wishes to provide additional information regarding the ThermoPotash product trials conducted by Grupo Sekita Agronegócios ("Sekita"), a leading Brazilian agribusiness company. The trial program compared the agronomic efficiency of granular ThermoPotash with potassium chloride, on the productivity and quality of carrot crops. The trial showed no statistical difference between ThermoPotash, Verde's new proposed fertilizer, and potassium chloride (KCl) the most common potash fertilizer. In isolation this would be considered a positive result because the Company proposes that ThermoPotash be used as a substitute for KCl. However, there was also no statistical difference between carrots fertilized with KCl and the carrots that received no fertilizer at all (the control group of carrots). Given the performance of the unfertilized carrots our agronomists have deemed the tests inconclusive.
It is important to note that the agronomic trials performed at Sekita and our other development partners are not clinical efficacy trials, they are product trials allowing Verde's agronomists and partners to see how ThermoPotash reacts in real world conditions, allowing potential customers to experiment with how ThermoPotash can be seamlessly incorporated into their commercial operations. Agronomic efficacy of ThermoPotash has already been demonstrated in tests performed by the University of Uberlandia (see release August 11, 2010).
The test was inconclusive because the overall variation in productivity, considering the control group of carrots, was less than the statistical margin of error. Therefore the lack of conclusive results does not indicate product failure and does instruct the Company on how to better tailor future trials in commercial environments.
Sekita's trial was conducted under commercial conditions, which meant the application of ThermoPotash to fields that have been used in carrot production for several years. The local climate allows Sekita to plant crops back to back year round; so that thanks to carrot's short maturity cycle several yearly harvests are grown. The better than expected performance of the unfertilized control group of carrots was thus likely due to the presence of residual potash leftover from previous harvests.
Moreover, despite the lack of results in terms of agronomic productivity, agronomists from Verde and Sekita learned a lot from the trial. Sekita agronomists tested different application timings and mixtures of ThermoPotash and KCl. While, Verde agronomists discovered there was room for significant improvement by softening ThermoPotash's granules, which will enable better nutrient release.
Sekita is continuing to test ThermoPotash with oats, garlic, corn, soybeans, wheat and pasture for dairy cattle. Its farms are located less than 10km from the Cerrado Verde Project. Sekita hopes to utilize the slow release characteristics of ThermoPotash to provide a more sustainable and more efficient source of potash.
Commenting, Eduardo Sekita de Oliveira, Agronomic Director of Sekita said, "I am very encouraged by the ThermoPotash product. We, at Sekita, are pleased to partner with Verde in the development of this new fertilizer alternative for Brazil. We look forward to an ongoing relationship through the development process with a view to become a customer after the trials have been completed and the product proves satisfactory."
About Sekita
Sekita Agribusiness is one of the largest Brazilian producers of vegetables. Established in the 1970's, it currently has 350 permanent employees working in the production of garlic, carrots, corn, soybeans, wheat and milk. Their productive activities are distributed over 3000 hectares of farmland, located directly adjacent to Amazon's Cerrado Verde project. The group was one of the pioneers in adapting many crop plantation techniques to the Cerrado, Brazil's savannah, including the use of slow-release ThermoPhosphate fertilizer, limestone soil pH adjustment and crop rotation to control pests. Sekita carrots are famous throughout Brazil. It has also recently become one of the largest milk producers in the country.
About Verde Potash
Verde Potash, founded by Brazilians, is a mineral exploration and development company focused on fertilizers. The Company is developing the Cerrado Verde project in Brazil, a source of potash-rich rock from which Verde plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product named ThermoPotash. Founded as Amazon Mining in 2005, the Company changed its name to Verde Potash in April 2011 to better reflect its main business. The Company is also exploring for phosphate and limestone.
On behalf of the Board of Directors of Verde Potash,
Jed Richardson, Vice President of Corporate Development
Shareholders Approve Company's Name Change to Verde Potash Plc–New Stock Symbol to be NPK
Sekita Agronomic Trials Results
Apr. 21, 2011 (Marketwire Canada) --
TORONTO, ONTARIO -- Amazon Mining Holding plc (TSX VENTURE:AMZ) ("Verde" or the "Company") is pleased to announce that the shareholders have approved a name change to Verde Potash Plc at its Annual Meeting of Shareholders held on April 12, 2011. Accompanying the change of name shall be a new trading symbol, 'NPK'. The changes will be effective as of market open on Tuesday, April 26, 2011.The Company's shares will continue to trade on the Toronto Stock Exchange Venture and all other attributes of the Company remain unchanged. The name Verde Potash, and ticker symbol 'NPK' were selected to better reflect the Company's business and focus on fertilizers.
Effective Date: Tuesday, April 26, 2011
Company Name: Verde Potash Plc.
Trading Symbol: TSX-V: NPK
Sekita Agronomic Trials Update
ThermoPotash trials at Grupo Sekita Agronegôcios ("Sekita") provided inconclusive results. Testing conducted by Sekita was implemented in order to compare the agronomic efficiency of granular ThermoPotash with potassium chloride (KCl), on the productivity and quality of carrot crops. Sekita reports: There was no statistical difference in productivity and quality of carrot between treatments using ThermoPotash (TK) and potassium chloride (KCl) and combined application of these two sources, and also compared to the control treatment. With regard to the efficiency of the sources of potassium, the Company expected greater agricultural efficiency from granular ThermoPotash as compared to potassium chloride or the control. However, the release of nutrients from ThermoPotash was observed to be hampered in the field because the granules of the product showed a high degree of hardness and resistance to fragmentation. This decreased the contact and reaction of these particles with the soil preventing the release of total nutrients, thus reducing the efficiency of the product. The Company did not previously observe these characteristics when it supplied ThermoPotash in coarse form as opposed to granules. The company's engineering team expects to resolve this issue by making a simple change to the granulation process.
About Verde
Verde Potash, founded by Brazilians, is a mineral exploration and development company focused on fertilizers. The Company is developing the Cerrado Verde project in Brazil, a source of potash-rich rock from which Verde plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product named ThermoPotash. Founded as Amazon Mining in 2005, the Company changed its name to Verde Potash in April 2011 to better reflect its main business. The Company is also exploring for phosphate and limestone.
On behalf of the Board of Directors of Verde Potash plc
Jed Richardson, Vice President of Corporate Development
Cautionary Language and Forward Looking Statements
THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD", "WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.
Readers are cautioned not to rely solely on the summary of such information contained in this release and are directed to the complete set of drill results posted on Amazon's website (www.amazonplc.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein.
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.
Amazon Mining Holding Plc
President & Chief Executive Officer
+44 (0) 20 8133 7607
+44(0)20 7405 7773 (FAX)
cv@amazonplc.com
I can't get anymore to wake up. They all ignore me now on my facebook page. lol
Still room for the sheeple on commodities elevator
Yes, but only one of many commodities one should hold.
Happy days for those with eyes to see but sad, sad, sad for the sheeple.
Potash is the place to be
Holding AMZ and AAA/ALLRF
Thanks, I thought I was the only one who knew about this little gold mine, I mean Potash company.
This stock is pennies compared to where it is going. Thanks for sharing.
And here I am all alone."
You're not alone. I just stay in the weeds and observe.
Better late than never, My average is 7.17 bought in US as AMHPF.
fr SI
Upcoming News Flow & Catalysts
2011 will certainly be a big year for Amazon and we see that there will be more value to be gained in the share price as further key milestones on the Cerrado Verde Project are met as well as the project continuing to be de-risked as it progresses towards production. The likely approval of the Company name change to "Verde Potash" at the 12th Apr’11 AGM will further reflect the direction of the Company as well.
We believe that the ‘blue-sky’ potential of the process currently being explored at Cambridge to produce a conventional potash product (KCl) is successful remains to be priced in. Additionally, we believe the market is not currently pricing in the potential for a phosphate resource to be defined from ongoing drilling at the project.
Watch for News in 2Q’11 on: Agronomic trial results from Sekita; Drilling results and resource upgrade for south & middle zones of the potash deposit; Drilling results and potentially a NI43-101 resource for Apatita phosphate deposit.
For 2H’11 News Flow on: Pre-feasibility results on the ThermoPotash production route and ThermoPotash product registration; NI43-101 resource for the northern zone of the potash deposit; Phosphate lab test results; Further agronomic test results; Cambridge patent results for scaled-up tests.
Natasha Liddell
Ocean Equities Limited
Robert Winslow, Wellington West Capital Markets Inc. (04/06/2011)
"Amazon Mining's proposed verdete slate mine in Minas Gerais, Brazil (the Cerrado Verde Potash Project) could provide the feedstock for a unique TK fertilizer operation. We believe Brazil's domestic potash demand will continue to expand, driven by an ag-centric economy and reliance on expensive imports, supporting demand for TK, which appears to have slow-release and other agronomic benefits compared to conventional KCl. . .strong global and Brazilian agricultural fundamentals open the door for a low-cost domestic potash producer to succeed in Brazil's growing market."
Just the news we needed to propel us over the $10.00 mark.
And here I am all alone.
Minas Gerais State Government Commits to Financially Support Amazon's Cerrado Verde Project
Apr. 7, 2011 (Marketwire Canada) --
TORONTO, ONTARIO -- Amazon Mining Holding Plc (TSX VENTURE:AMZ) ("Amazon" or the "Company") is pleased to announce that the Minas Gerais State government ("the State") has signed a memorandum of understanding ("Memorandum") to provide Amazon with support in terms of potential financing for working capital and fixed investment, with funds administered by the development bank of Minas Gerais (BDMG). The stated objective of the Memorandum is to enable the implementation, by Amazon, of an industrial unit and the installation of a distribution centre located in the State of Minas Gerais destined for the manufacturing and commercialization of ThermoPotash, Potassium Chloride and Potassium Sulfate. The Memorandum was signed by a collaboration of key personnel interested in the development of the Cerrado Verde Potash Project, specifically; Minas Gerais State Governor Antonio Augusto Junho Anastasia, Dorothea Fonseca Furquim Werneck, Secretary of the State Department for Economic Development, Leonardo Maurício Colombini Lima, Secretary of the State Treasury Department, José Frederico Álvares, President of the Integrated Development Institute of Minas Gerais ("INDI"), and Ricardo Murari Bandeira, Regulatory Manager of Amazon Mining.
The State, through INDI, shall provide support and assistance to Amazon during the implementation and operation phases of the project, particularly with regard to assisting with financing requirements and the expedition of permits and licenses. The terms of the special tax treatment (see Amazon release dated December 22, 2010), including the suspension of ICMS taxes on purchases destined for the construction of the Cerrado Verde Project are also outlined in the Memorandum.
The consolidation of the chemical industry sector is of great importance for the development of productive activities that add value and technology to the State, as evidenced by its commitment to Amazon. The Memorandum confirms that Cerrado Verde is within the parameters of the State's primary development goals, namely; increasing employment and reducing regional and social inequalities, and seeking to form strategic partnerships with the private sector aiming at the industrial and commercial development, internalization of industry and environmentally integrated policy. In respect to social development and to the economy of the State of Minas Gerais, the benefits granted to Amazon provide an increase in direct and indirect employment opportunities as well as in revenue.
Commenting, Cristiano Veloso, President and CEO said, "The exact terms and means of the State financial involvement at Cerrado Verde will be determined as we move forward with the project. This Memorandum represents a unique acknowledgement by the government of Minas Gerais of the incredible benefit domestic potash production will bring to the agricultural sector in Brazil. We gladly welcome the participation of the State in building our innovative potash operation."
Other Matters
Amazon will be hosting its Annual General Meeting on Tuesday, April 12 at 10:00am EST, at the offices of Fasken Martineau LLP at 333 Bay Street, Suite 2400, Toronto, ON M5H 2T6. All shareholders are invited to attend.
Subsequent to approval from the TSX Venture Exchange, Amazon has increased the exercise price to $0.45 on stock options previously granted between November 2008 to June 2009 to five consultants who were each granted 50,000 options to purchase ordinary shares of Amazon. Four of the consultants received stock option grants exercisable at $0.35 while one of the consultants received a stock option grant exercisable at $0.30. Amazon has increased the exercise price to be above the par value of the ordinary shares.
About Amazon
Amazon Mining is a mineral exploration and development company founded by Brazilians in 2005. The company is focused on the development of the Cerrado Verde project. Cerrado Verde is a source of a potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product. Amazon Mining is a UK public company with shares listed on the Toronto Stock Exchange since November 2007.
On behalf of the Board of Directors of Amazon Mining Holding Plc
Jed Richardson, Vice President of Corporate Development
Amazon Initiates Drill Campaign to Explore Phosphate and Expand Potash Resource
TORONTO, ONTARIO, Feb. 16, 2011 (Marketwire) --
Amazon Mining Holding Plc (TSX VENTURE:AMZ) ("Amazon" or the "Company") is pleased to announce that the Company has initiated an extensive drilling campaign to explore phosphate targets at the Apatita project and to expand the potash resource at Cerrado Verde.
The planned drilling at the Apatita Project includes 4,000m of follow up drilling at the Nau de Guerra and Alto da Serra targets with a view to produce NI 43-101 compliant resource . In addition, the Company is planning 3,000m of drilling on five other targets along a trend over 30km long bordering the Cerrado Verde Project. The initial drilling program at the Apatita Phosphate project showed encouraging preliminary results (see release dated November 22, 2010), this work will build on that initial success and test new areas. P2O5 concentrations combined with estimative reserves and flotation tests will be the key drivers to moving the Apatita project forward.
The Company has also initiated a wide-spaced drilling program at the Cerrado Verde potash project aimed at producing a NI 43-101 compliant resource estimate for the whole deposit, which has a strike length exceeding 100km. Currently the Company has a NI 43-101 inferred compliant resource on 105.1 million tonnes grading 10.3% K2O using a cut-off of 7.5% (see release dated March 8, 2010). Additional drilling is also being conducted to upgrade the current resource to measured and indicated to obtain the necessary mining permit.
Amazon has commissioned two drilling companies, GeoSedna Perfuracoes Especiais S/A and Isoagua Perfuracoes Especiais S/A, to carry out a 16,000m drilling program with an option to drill another 10,000m. The initial drilling campaign consists of four pieces of drilling equipment; three Reverse Circulation drill (15,000m) and one Diamond drill (1,000m).
Amazon has hired SSMA Advisory and Consultancy, an environmental licencing company, to prepare all the necessary reports and analyze the environmental issues. Their team has already started the work in the Cerrado Verde Project area, where the biotic and physical surveys have just begun.
In October 2010, Amazon claimed an area near Cerrado Verde containing limestone. The Company plans to drill 2,500m of this area. This potential limestone deposit could make the Company self-sufficient for ThermoPotash production in terms of raw materials, and potentially reduce operating costs.
Commenting, Cristiano Veloso, President and CEO said, "This drilling program aims to create new value with our phosphate and limestone targets. It will be the first attempt by Amazon to quantify the tremendous potash resource at Cerrado Verde. The program will also help Amazon solidify its claim over the entire mineralized area as we work to convert our exploration license into a formal mining license later in 2011."
Other Matters
Amazon has issued 2,800 shares at a price of $8.00 to Fasken Martineau DuMoulin LLP as arrangement for settlement of debt.
About Amazon
Amazon Mining is a mineral exploration and development company founded by Brazilians in 2005. The company is focused on the development of the Cerrado Verde project. Cerrado Verde is a source of a potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product. Amazon Mining is a UK public company with shares listed on the Toronto Stock Exchange since November 2007.
On behalf of the Board of Directors of Amazon Mining Holding Plc
Octagon Initiates Coverage of AMZ
MAX VICHNIAKOV, Octagon (02/08/2011)
"Strong macro fundamentals: Brazil's well-developed agricultural sector, relatively low natural fertility status of its soils and inadequate local supply of potash results in the country importing 90% of its potash requirements, thus creating strong demand for locally sourced nutrients.
Economically attractive project: Amazon is exploring and developing the Cerrado Verde Project, which has an Inferred resource of 64 Mt. with a grade of 11.17% K2O at a cutoff grade of 10%.Also attractive are the product characteristics. AMZ is developing and commercially testing a non-chloride, non-sulphate, slow-release potash-based product with superior capabilities to substantially increase Ca and Mg in the soil.
Growth potential: With the potential to add to the resource base through the exploration drilling campaign in 2011 and blue-sky potential, Amazon has the potential either to become one of the pre-eminent producers of potassium-based fertilizers in Brazil or an attractive takeover target.
We are initiating coverage of Amazon Mining with a BUY rating and a 12- to 18-month price target of $10. Our $9.94/share NAV is based on a DCF analysis for the Cerrado Verde Project, applying a 12.5% discount rate, a fertilizer price assumption of US$152/ton and using dilutive in-the-money number of shares."
Amazon Provides Key Milestones for 2011 and Issues New Stock Options
Amazon Mining Holding Plc (TSX-V symbol: “AMZ”) ("Amazon” or the “Company”) is pleased to provide a corporate update outlining some of the milestones targeted for 2011. The Company is currently developing the Cerrado Verde Potash Project (“Cerrado Verde”) and Apatita Phosphate Project (“Apatita”).
Amazon has over $17 Million in cash after successfully completing financings recently announced. The two largest new shareholders are based in Latin America and both have significant expertise in the region’s fertilizer and farming sectors.
The Company expects to be fully funded up to the plant construction phase and will target achieving the following key milestones in 2011:
Cerrado Verde Potash Deposit (“Cerrado Verde”)
Cerrado Verde has the potential to host billions of tons of potash rock (see NI 43-101 technical report filed with SEDAR on December 13, 2010). The Company will undertake a wide-spaced drilling campaign aimed at producing a NI 43-101 compliant resource estimate for the whole deposit extension which exceeds the length of 100km. The target is to complete the drilling campaign by Q3/2011. In addition, the Company will conduct further drilling to upgrade the current 43-101 compliant resource to measured and indicated level by the end of Q2/2011.
ThermoPotash (“TK”), Sulphate of Potash (“SOP”) and Potassium Chloride (“KCl”)
TK Scoping Study prepared by SRK Consulting demonstrated strong project economics (see release dated October 28, 2010). In addition, the processing route developed at the University of Cambridge (“Cambridge Process’) for which the company has filed patents (see release dated December 2, 2010), has potential to economically produce conventional potash fertilizers, namely SOP and KCl, from our extensive potash rock resources.
The Company will continue to focus on advancing the development of TK. Amazon expects to register TK with the Ministry of Agriculture in Q3/2011. Concurrently, Amazon plans to continue studying the viability of the Cambridge Process of producing conventional potash fertilizer as a possible phase two development initiative. If successful, the Company plans to issue a scoping study by Q3/2011.
Apatita Phosphate Project (“Apatita”)
Drilling at Apatita has proved the Nau de Guerra and Alto da Serra are two highly promising prospects. The Company will continue drilling with a view of producing NI 43-101 compliant resources in Q2/2011. In addition, the Company will drill another 5 prospects in a trend over 30km long with P2O5 results as high as 29%. About 95% of Brazil’s phosphate production takes place less than 200km from Apatita.
Corporate
Amazon intends to change its name to Verde Potash Plc. The name change will need to be approved at the Company’s next Annual Shareholder’s Meeting to take place Q2/2011. If approved, the name will better reflect the Company’s business and focus.
Cristiano Veloso, President and CEO said: “In 2010, Amazon followed a simple, but effective plan to realize value for our ThermoPotash project; drilling out an initial resource, defining a route for production, testing the product’s effectiveness, and presenting the market with third party validated economics. In 2011, we endeavour to repeat that formula for the Apatita phosphate project and the ground breaking Cambridge SOP/KCl process, while we continue to advance our ThermoPotash project towards production.”
Other Matters
Amazon has issued 75,078 additional share purchase options to Officers of the company and 65,723 additional share purchase options to the CEO. Both sets of options are exercisable at $8.30, expiring January 19th, 2016 and pending TSX regulatory approval.
About Amazon
Amazon Mining is a mineral exploration and development company founded by Brazilians in 2005. The company is focused on the development of the Cerrado Verde project. Cerrado Verde is a source of a potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product. Amazon Mining is a UK public company with shares listed on the Toronto Stock Exchange since November 2007.
On behalf of the Board of Directors of Amazon Mining Holding Plc, Jed Richardson, Vice President of Corporate Development
I'm on many boards this same way. Oh well the smart thinkers usually are all alone.
Amazon Mining Closes Cdn$10 Million Private Placement Financing
TORONTO, ONTARIO, Jan. 11, 2011 (Marketwire) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Amazon Mining Holding Plc (TSX VENTURE:AMZ) ("Amazon" or the "Company") is pleased to announce that it has completed its previously announced private placement financing with a syndicate of underwriters co-led by GMP Securities L.P. and Wellington West Capital Markets Inc., and which includes Salman Partners Inc. (the "Underwriters"). Pursuant to the private placement, the Underwriters purchased 960,000 ordinary shares of the Company at a price of $4.17 per share, resulting in gross proceeds to the Company of approximately $4,003,200 (the "Underwritten Offering"). In addition to the Underwritten Offering, the Underwriters completed a "best efforts" private placement of 1,438,100 shares out of the 1,440,000 shares available pursuant to the exercise of the Underwriters' option (the "Option"). Overall, pursuant to the Underwritten Offering and the Option, 2,398,100 shares were sold for gross proceeds to the Company of $10,000,077.
Amazon paid to the Underwriters a commission of $600,004.62, being 6.0% of the gross proceeds of the private placement, and has issued 143,886 broker's warrants to the Underwriters, entitling the Underwriters to acquire 143,886 shares of the Company, being 6.0% of the number of shares issued pursuant to the private placement. The broker warrants are exercisable until January 11, 2013 at an exercise price of $4.17 per share.
The net proceeds of the Offering will be applied to the general working capital of the Company and the development of its Cerrado Verde potash project.
All securities issued in connection with the Offering will be subject to a statutory hold expiring on May 12, 2011 in accordance with applicable securities legislation.
Hard to believe that this stk board is so dead, given how alive the stock and it's science are????
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http://dailyreckoning.com/food-the-trade-of-the-decade/ Note Passport Capital in Article as well Passport in AMZ
Brazil poised to be next potash player
Posted: August 19, 2009, 10:22 AM by Jonathan Ratner
Market Call, potash, commodities, Brazil
As one of the world’s largest agriculture-centric economies but the second largest importer of potash, Brazil is positioned to become the next major global producer of the fertilizer component that is essential for large-scale farming. That is the conclusion of a new report from Wellington West Capital Markets that suggests existing potash industry leaders who have benefited from market dominance in recent years, stand to lose the most if Brazil becomes potash self-sufficient and the next major independent exporter of this strategic resource.
“While this import dependency was seemingly of little national significance before potash prices escalated in the last couple of years, we now believe it puts the country’s economic growth engine, driven in large part by agriculture, in a precarious position,” said analyst Robert Winslow.
However, he noted strong evidence that Brazil contains an undeveloped world-class potash ore body with the Amazon basin. If developed, it could could support several multi-million tonne producing mines for decades and lead to Brazil’s potash self-sufficiency.
“Given the potential economic and political benefits at hand, we submit it is only a matter of time before government and private investment moves to develop a domestic potash industry that rivals today’s leading producers,” Mr. Winslow said. “Brazil’s economic growth and as such the country’s future demand for potash fertilizer should remain robust and continue to grow for many years, if not decades.”
Agriculture accounted for an estimated US$110-billion, or 5.5% of Brazil’s GDP in 2008, according to the U.S. State Department. The country is now among the world’s top exporters of many agricultural commodities, including coffee, sugar, orange juice, soybeans, tobacco, beef, and poultry.
Brazil is also one of the few places with the potential to materially increase arable land and has an abundance of renewable frashwater, Mr. Winslow said, noting the government’s 37% year-over-year increase in agricultural spending.
The country must also compete with China and other emerging markets to secure potash. So guaranteeing domestic supply mitigates the risks to economic growth posed by potentially strained global supplies and the possibility of escalating prices.
Establishing lower-cost potash supply due to lower transportation costs and the eliminating duties could also help establish Brazil as a sustainable, lower-cost grain producer, the analyst said.
While Brazil is likely at least five to seven years away from seeing its first large-scale potash mine in the Amazon, Mr. Winslow nonetheless warned that the equity value of publicly-traded market leaders could begin to reflect long-term potash prices well below current contracts.
He identified several Canadian-listed juniors that have exposure to potash in South America and could benefit from an emerging industry in Brazil. The include TSX Venture names like Allana Resources Inc., Amazon Mining Holding Co. and Atacama Minerals Corp., TSX-listed Talon Metals Corp., Sprott Resource Corp. and Western Potash Corp., as well as Lara Exploration Ltd.
Mr. Winslow favours companies that have access to a potash resource with favourable economics, ease of permitting or permits in place, availability and/or proximity to infrastructure, strong management and/or public/private sector partners, and capital or access to it.
Jonathan Ratner
Read more: http://network.nationalpost.com/np/blogs/tradingdesk/archive/2009/08/19/brazil-poised-to-be-next-potash-player.aspx#ixzz0YqD1Q9Af
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Agrifirma Agrees to Fund Trials of Amazon Mining's ThermoPotash Fertilizer
Press Release
Source: Amazon Mining Holding Plc
On 1:13 pm EST, Tuesday November 24, 2009TORONTO, ONTARIO--(Marketwire - 11/24/09) - Amazon Mining Holding Plc (TSX-V:AMZ - News)("Amazon" or the "Company"), is pleased to announce that the Company has entered into an agreement with Agrifirma Brazil, a United Kingdom based farmland operator and developer, to fund agronomic tests using Amazon Mining's proposed ThermoPotash product, derived from the Cerrado Verde project, Cerrado Verde is a source of potash rich rock from which Amazon plans to produce a slow-release, non- chloride, multi-nutrient, fertilizer product.
Agrifirma plans to test ThermoPotash in real world conditions for use with soybeans, maize and corn. Agrifirma hopes to utilize the slow release characteristics of ThermoPotash to provide a baseload of potash nutrients during the conversion of scrubland and pastureland into fertile farmland for cultivating the crops mentioned above.
Agrifirma endeavours to develop its agricultural land ecologically, to minimize environmental impact. ThermoPotash is expected to be suitable for organic farming not containing environmental pollutants like conventional potash (potassium chloride), known to contaminate groundwater. An off shoot of potassium chloride fertilizer use in Brazil is the use of limestone by farmers to neutralize the acidity created by the chloride left in the soil. This practice releases a large amount of carbon dioxide into the atmosphere and increases the salinity of farm soils. The nature of ThermoPotash should curtail the loss of fertilizer to groundwater and reduce limestone needs, minimizing greenhouse gas emissions. Agrifirma hopes to benefit from these characteristics.
About Agrifirma
Agrifirma is a modern farmland operating and development company, formed in 2008 to buy and convert unproductive scrubland and pastureland into high quality arable land. Currently the company controls 69,112 hectares of land in western Bahia. Brazil currently uses approximately 10% of its potential arable land, estimated at 550 million hectares predominantly in the Cerrado region where its project is located, away from the Amazon rainforest and one of the last major agricultural frontiers still to be developed.
Agrifirma, boasts an impressive management, board and advisory committee that include Donald Coxe, renowned investment strategists and author of "The New Reality on Wall Street"; Jim Rogers author of "Adventure Capitalist" and "Investment Biker"; Julio Bestani, CEO, former CFO of South American agro- industrial giant Adecoagro, funded by George Soros; Ian Watson, Chairman, former Chairman Galahad Gold; and, Roberto Rodrigues, director, former Brazilian minister of Agriculture (2003-2006).
About the Agreement
The memorandum of understanding between Amazon Mining and Agrifirma governs the testing of ThermoPotash product from a proposed pilot plant production. Under the terms of the agreement Amazon will provide ThermoPotash to Agrifirma for use in planting soybeans, maize and corn. Agrifirma will designate a test plot and fund all costs associated with the testing. Argrifirma's investments will include yield comparisons and chemical analysis of nutrient behaviour in the soil, with special attention to barren soils being converted for agricultural use. The companies will jointly define the period in which the fertilizer is employed, and the stages of study. Data from the studies will be jointly owned by Amazon and Agrifirma to be used for development of the product, product marketing and project financing. Agrifirma will have pre-emptive right to the acquisition of 15% of potential ThermoPotash production at market price for a period of 24 months, in the event of successful commissioning of a ThermoPotash production facility by Amazon Mining.
Other Matters
As per press release dated July 27, 2009, 630,000 options were granted to new members of the Board of Directors as well as consultants and staff. These options expire July 23, 2014.
About Amazon
Amazon Mining is a mineral exploration and development company founded by Brazilians in 2005. The company is focused on the development of Cerrado Verde project. Cerrado Verde is source of a potash rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient, fertilizer product. Amazon Mining is a UK public company with shares listed on the TSX Venture Exchange since November 2007.
On behalf of the Board of Directors of Amazon Mining Holding Plc, Jed Richardson, Vice President of Corporate Development
Cautionary Language and Forward Looking Statements
THIS PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT EXPECT" OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR "BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT, OR RESULTS "MAY", "COULD", "WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR" OR "BE ACHIEVED". FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.
The potential grades detailed in this release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the targets being delineated as a mineral resource.
Readers are cautioned not to rely solely on the summary of such information contained in this release and are directed to the complete set of drill results posted on Amazon's website (www.amazonplc.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein.
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.
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