Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
What else is on your list?
Hey - been there! Very cool place, Huacachina Peru
http://investorshub.advfn.com/boards/read_msg.asp?message_id=9566732
Current world fertilizer trends and outlook to 2011/12
FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS Rome, 2008
ftp.fao.org/agl/agll/docs/cwfto11.pdf
yup just waiting for Paul to say "let's roll"
Anglo Minerals changes name to Anglo Potash
2008-02-27 18:31 MT - News Release
Mr. Todd Montgomery reports
ANGLO MINERALS LTD.-- NAME CHANGE TO ANGLO POTASH LTD.
Anglo Minerals Ltd. will today file documentation required to formally change its name to Anglo Potash Ltd. in order to better reflect the continuing business and operational focus of the corporation in the potash industry. The common shares of Anglo Potash Ltd. will begin trading under the new ticker symbol AGP on the TSX Venture Exchange on Friday, Feb. 29, 2008. The name change, along with all other matters that were placed before the shareholders at the annual general and special meeting held on Feb. 15, 2008, was approved by the shareholders at the aforementioned meeting.
i know the type :)
lol good one, written in Calgary right?
the energy sector is tired of bridging the government's gaps -- whether it's health care, education or social services
Terry, glad to know the raspberry port is not effecting your good judgement.
Re kids, I think TFSA for 18 and over.
I think the RRSP TFSA equivalence they are getting at is all your impressive RRSP gains will eventually get taxed.
Those same gains in a TFSA would be tax free.
RRSP tax break up front, principal and gains eventually taxed = TFSA no tax break up front, principal and gains never taxed.
The hockey billionaires Forbes: The world's richest people
Andrew Farrell, Forbes Published: Monday, February 25, 2008
Daryl Katz is spending about US$200-million to buy the Edmonton Oilers, but he's not stopping there. He's promised he'll open the checkbook to sign and keep top talent."To be clear, I am committed to building a winning team here in Edmonton, and I would play to the salary cap every year to help make sure that happens," said Katz in July. At the time, he was trying to woo an ownership group that was reluctant to sell and Edmonton fans that worried about the effect of a new owner on their team.
Katz's bank account suggests it wasn't just an idle promise. We estimated the Canadian owner of Rexall pharmacies was worth $1.9 billion when we ranked the world's billionaires last March. That's good news for Oilers' fans. An analysis of payroll data shows that pro hockey teams with billionaire owners spend more on their players than teams without billionaire owners--and their teams rack up more points.
Eleven billionaires currently own all of or a stake in 10 of the NHL's franchises. (Not included in this group is the Minnesota Wild. Craig Leipold bought a stake in the club this January but technically his wife, Helen Johnson-Leipold, is the billionaire in the family.)
According to payroll data from Nhlscap.com, the teams with billionaire owners are on track to spend an average of US$47.8-million on player salaries during the current season. The 20 teams without billionaire owners are on track to spend an average of US$45.1-million this season.
That US$2.7-million difference between the two groups is a notable amount in the NHL. It's enough to pay this year's salary for an All-Star like Henrik Zetterberg. The Red Wings winger is tied for third in the NHL in total points this year.
There's a correlation between the extra spending and winning. As of Friday, billionaire-owned teams were averaging 62.3 points for the season. Teams not owned by billionaires were averaging 59.8 points. (Teams receive two points for each win and one point for each overtime loss.)
At the same time, a huge bank account is no guarantee of goodwill from fans. The wealth of billionaire owners makes them an obvious target for criticism if the team appears tightfisted.
This year's Buffalo Sabres provide ample evidence. They are owned by Thomas Golisano. He built a US$2-billion fortune with the payroll company Paychex, but fans complain that he has done a poor job of managing the Sabres' payroll.
The team lost a string of talented core players through free agency, and its record clearly shows the effects. Last year, the Sabres won 53 games, more than any other team in the league. This year, the Sabres are fourth out of the five teams in their division.
Even though Golisano has taken a low profile with the hockey team, Sabres faithful are pointing the finger at him. One fan lamented in a letter to the Buffalo News that Golisano and management have made the club "the farm team for the rest of the NHL teams who have competent management."
It's a lesson Katz should take to heart. Assuming he gets the approval to buy the Oilders from the National Hockey League, he should know that his billions won't mean much to fans if he doesn't spend them on the team.
How the 'TIFSA' can be your tax free nest egg
Jonathan Chevreau, Financial Post Published: Tuesday, February 26, 2008
OTTAWA -- Canadians can shelter an extra $5,000 a year from taxes [$10,000 for couples] through the new Tax-Free Savings Account (TFSA) unveiled in Budget 2008. The TFSA was the headline grabber in the budget and some practitioners are already pronouncing it "TIFSA."
True, it's not the deferred capital gains break the Conservatives promised before they first won power, but the TFSA will be a welcome addition to an all-too-short list of tax shelters when it becomes available in 2009.
Unlike RRSPs, there is no upfront tax deduction, but the proceeds are not taxed when the money is withdrawn. If all this sounds familiar, that's because it should. The TFSA is a new name for what the C. D. Howe Institute once dubbed "Tax Prepaid Savings Plans" or TPSPs. And in 2004, while the Liberals still ruled, the Conservative party proposed a similar vehicle under the name Registered Lifetime Savings Plans (RLSPs).
TFSAs, TPSPs and RLSPs all resemble the Roth IRAs in the United States, although Roth IRAs are more focused on retirement and have more constraints and penalties imposed on early withdrawals.
Canada's new TFSA is flexible enough for consumption and retirement. Having paid income tax to earn a certain sum in the first place, any net proceeds placed in the TFSA will be totally tax free from that point on.
So interest income will compound tax-free, while capital gains or dividends generated by stocks are also tax-free. When withdrawn from the plan, the full nest egg is available tax-free. Plus, the withdrawal frees up a comparable amount of new contribution room. As the budget puts it, there is "full flexibility to withdraw and recontribute."
The TFSA is designed to help Canadians save for serial short-term consumption goals like automobiles, vacations or home renovations. But it can also be used to save up for a down payment on a home or for education.
While not focused on retirement, the TFSA is also attractive to low-income seniors -- the tax-free withdrawals won't trigger reductions in Old Age Security benefits or the Guaranteed Income Supplement. Nor does it impact income-tested benefits like the Canada Child Tax Benefit.
While the measure appears to come late in the game for the boomer generation, the TFSA will still come in handy, particularly for boomers who intend to work another decade or two.
Unlike RRSPs, which must be collapsed after age 71, there is no age limit for contributing to a TFSA. Unused contribution room is carried forward indefinitely. The initial $5,000 contribution amount will be indexed to inflation.
High-income investors can use the TFSA to shelter highly taxed interest income or foreign dividends, which are otherwise taxed at the top marginal tax rate.
Like RRSPs, TFSA holders can name spouses or common-law partners as beneficiaries and rollover the proceeds to them upon their death. But unlike RRSPs or RRIFs, on the death of the second party, the proceeds are NOT taxable. That means children will be able to inherit the total amount tax-free, says Jamie Golombek, vice president of tax and estate planning for AIM Trimark Investments.
And as with spousal RRSPs, spouses or common-law partners can contribute to their partner's TFSA.
Golombek says the TFSA will be another effective way for couples to split income for tax purposes. The so-called "attribution rules" will not apply to income earned in a TFSA, the budget documents say.
Given the additional complexity, TFSAs should be a boon to the financial industry: they can be issued by any institution that issues RRSPs. Financial advisors should welcome this new savings vehicle since it gives them one more tool to add to their mix of investment recommendations.
TFSAs can hold the same investments as RRSPs, such as mutual funds, stocks, bonds and GICs.
As with RRSPs, those who borrow to fund TFSAs will not be able to deduct the interest for tax purposes.
For those in the highest tax bracket, mathematically the TFSA and RRSP are almost a wash, Golombek says.
A chart on page 278 of the budget notes the tax treatment on the TFSA is the mirror image of that provided on RRSPs. Thus, RRSP contributions are tax deductible, with both the contributions and the investment earnings taxable upon withdrawal. By contrast, TFSA contributions are made from after-tax income and both the contributions and the investment earnings are exempt from tax upon withdrawal.
The budget says "the net after-tax rates of return on TFSA and RRSP savings are equivalent when effective tax rates are the same at the time of contribution and withdrawal." That is, the value of the tax deduction from RRSP contributions is equivalent to the value of withdrawing funds tax-free from a TFSA.
But one thing is certain: the TFSA is better than nothing, which means its tax treatment is better than what investors get in non-registered investment portfolios. The budget confirms this: "The rate of return from saving in either a TFSA or an RRSP is superior to unregistered saving."
Ideally, one contributes to both. However, low-income earners who must choose between the TFSA or the RRSP may prefer the TFSA if they plan to benefit in old age from the OAS, GIS or other means-tested government programs.
Some older investors tempted to "melt down" their RRSPs as they approach 65 may opt to move the proceeds into TFSAs in order to minimize the OAS clawback and other government benefits.
As with RRSPs and RRIFs, there is no foreign content limit on the TFSA, so it would be ideal for holding foreign dividends as well as interest-bearing investments. Foreign dividends are taxed like interest for Canadians because they don't qualify for the dividend tax credit generated by Canadian publicly traded companies.
The budget also proposes to adjust the dividend gross-up factor and Dividend Tax Credit rate for eligible dividends to reflect the corporate tax reductions in the 2007 Economic Statement.
The other significant measure, on page 82, is increased flexibility for locked-in pensions such as Life Income Funds. In line with some provincial moves to loosen up access to locked-in funds, the budget says individuals 55 and over can get a one-time conversion of up to 50% of LIF holdings into a tax-deferred savings vehicle with no maximum withdrawal limits. Those who are 55 or more with small holdings up to $22,450 can wind up the accounts and convert to a tax-deferred savings vehicle. Those facing financial hardship will also be able to unlock up to $22,450.
welcome back!
Do you think he has any promotion experience? lol
Roles for Chowdhry Raj Inder
Company Date Role Description
Adastra Minerals Inc 1993-03-15 Became a director of Co
1995-10-16 Bought a private placement in Co
1996-03-26 Became a former director of Co
Afrasia Mineral Fields Inc 1996-07-17 Became a director of Co
1996-07-18 Bought a private placement in Co
1996-07-18 Was disclosed as a shareholder of Co
2003-02-06 Was disclosed as holding an option on shares of Co
2006-11-03 Became a former director of Co
Akash Ventures Inc 1993-10-29 Became a director of Co
1994-12-14 Was disclosed as a vendor to Co
1995-09-13 Bought a private placement in Co
1995-09-13 Was disclosed as a shareholder of Co
1996-09-23 Was disclosed as holding an option on shares of Co
1999-10-10 Became a former director of Co
2001-03-07 Became a director of Co
Alta Explorations Inc 1993-10-03 Became a director of Co
Amar Ventures Inc 1994-01-14 Became a director of Co
1994-01-14 Was disclosed as an officer of Co
1994-01-14 Was disclosed as a shareholder of Co
1994-01-21 Became a former director of Co
1994-01-21 Was disclosed as a former officer of Co
1994-09-20 Was disclosed as a former shareholder of Co
America Mineral Fields Inc 1993-03-15 Became a director of Co
1995-10-16 Bought a private placement in Co
1996-03-26 Became a former director of Co
American Nevada Gold Corp 1999-05-11 Bought a private placement in Co
American Ventures Inc Was disclosed as a shareholder of Co
1987-09-15 Became a director of Co
1987-09-15 Was disclosed as an officer of Co
1990-02-23 Bought a private placement in Co
1990-08-15 Was disclosed as a former officer of Co
Amex Ventures Inc 1998-07-15 Became a director of Co
1999-01-15 Was disclosed as a shareholder of Co
Amir Ventures Corp 1993-06-29 Became a director of Co
Andina Development Corp 1996-03-26 Became a director of Co
1996-03-26 Was disclosed as a shareholder of Co
1996-05-21 Was disclosed as holding an option on shares of Co
2000-03-08 Became a former director of Co
2001-03-07 Became a director of Co
2001-06-18 Became a former director of Co
Arris Resources Inc (1) 2005-12-12 Bought a private placement in Co
2005-12-12 Was disclosed as a shareholder of Co
Asha Ventures Inc 1992-04-01 Became a director of Co
1992-04-01 Bought a private placement in Co
1992-04-01 Was disclosed as a shareholder of Co
Avantec Technologies Inc 2000-07-26 Became a director of Co
2001-03-07 Was disclosed as holding an option on shares of Co
2004-11-25 Was disclosed as a shareholder of Co
Axion Communications Inc 1995-01-06 Became a director of Co
1995-09-11 Bought a private placement in Co
1995-09-11 Was disclosed as a shareholder of Co
1995-12-05 Was disclosed as holding an option on shares of Co
1999-01-07 Was disclosed as holding an option on shares of Co
Banner Entertainment Inc Became a former director of Co
Bassett Ventures Inc 2005-12-12 Bought a private placement in Co
2005-12-12 Was disclosed as a shareholder of Co
Blue Sky Resources Ltd (1) 1995-01-06 Became a director of Co
1995-09-11 Bought a private placement in Co
1995-09-11 Was disclosed as a shareholder of Co
1995-12-05 Was disclosed as holding an option on shares of Co
Bristol Explorations Ltd 1995-01-23 Became a director of Co
Callinan Mines Ltd 1995-12-13 Bought a private placement in Co
Camphor Ventures Inc 1993-02-19 Became a director of Co
1993-02-19 Was disclosed as a shareholder of Co
1993-02-22 Bought a private placement in Co
1995-07-10 Was disclosed as holding an option on shares of Co
1996-11-22 Bought a private placement in Co
1997-05-29 Was disclosed as holding an option on shares of Co
2000-02-11 Was disclosed as holding an option on shares of Co
2003-07-28 Bought a private placement in Co
2003-08-05 Bought a private placement in Co
Canadian Venture Corp 1986-12-15 Became a director of Co
1990-08-16 Was disclosed as a shareholder of Co
Cenco Petroleum Ltd 1994-07-15 Became a director of Co
1994-10-13 Was disclosed as holding an option on shares of Co
1995-08-30 Was disclosed as a shareholder of Co
ClickHouse.com Online Inc 1994-10-03 Bought a private placement in Co
1994-10-03 Was disclosed as a shareholder of Co
Consolidated Callinan Flin Flon Mines Ltd 1995-12-13 Bought a private placement in Co
Consolidated Canadian Venture Corp 1987-01-15 Became a director of Co
1990-06-15 Was disclosed as an officer of Co
1990-08-16 Was disclosed as a shareholder of Co
1990-10-27 Bought a private placement in Co
1992-10-28 Bought a private placement in Co
1993-03-15 Became a former director of Co
1993-03-15 Was disclosed as a former officer of Co
1994-08-05 Became a director of Co
1995-05-23 Was disclosed as a former shareholder of Co
1995-07-07 Became a former director of Co
Cost Miser Coupons (International) Inc 1987-09-15 Became a director of Co
1987-09-15 Was disclosed as an officer of Co
1990-08-15 Was disclosed as a former officer of Co
1992-04-01 Was disclosed as a shareholder of Co
1993-01-15 Became a former director of Co
Cryptic Ventures Inc 1987-10-15 Was disclosed as an officer of Co
1988-01-15 Became a director of Co
1992-04-09 Bought a private placement in Co
1992-06-17 Was disclosed as a shareholder of Co
1993-06-15 Became a former director of Co
1993-06-15 Was disclosed as a former officer of Co
1993-12-01 Was disclosed as a former shareholder of Co
Eurotech Technologies Inc 1995-11-15 Became a director of Co
1996-01-15 Became a former director of Co
Futura Capital Ltd Was disclosed as a shareholder of Co
Gee-Ten Ventures Inc 1998-06-08 Bought a private placement in Co
1998-06-08 Was disclosed as a shareholder of Co
Gleneagles Petroleum Corp 1994-10-03 Bought a private placement in Co
1994-10-03 Was disclosed as a shareholder of Co
Global Sortweb.com Inc 1998-07-15 Became a director of Co
1999-01-15 Was disclosed as a shareholder of Co
2000-06-30 Was disclosed as holding an option on shares of Co
2000-08-24 Was disclosed as a vendor to Co
2004-02-18 Received shares for debt
Globalstore.com Inc 1999-05-14 Bought a private placement in Co
1999-05-14 Was disclosed as a shareholder of Co
Golden Patriot Mining Inc 2001-05-15 Became a director of Co
2002-03-05 Was disclosed as a shareholder of Co
2002-03-05 Was disclosed as holding an option on shares of Co
2005-02-08 Bought a private placement in Co
2005-11-17 Became a former director of Co
2005-11-21 Became a consultant to Co
GSO Solutions Inc 1999-05-14 Bought a private placement in Co
1999-05-14 Was disclosed as a shareholder of Co
Hana Mining Ltd 2001-05-15 Became a director of Co
2002-03-05 Was disclosed as a shareholder of Co
2002-03-05 Was disclosed as holding an option on shares of Co
2005-02-08 Bought a private placement in Co
2005-11-17 Became a former director of Co
2005-11-21 Became a consultant to Co
HEC Hitech Entertainment Corp 1994-10-03 Bought a private placement in Co
1994-10-03 Was disclosed as a shareholder of Co
IGC Internet Gaming Corp 1994-07-15 Became a director of Co
1994-10-13 Was disclosed as holding an option on shares of Co
1995-08-30 Was disclosed as a shareholder of Co
1996-09-13 Was disclosed as holding an option on shares of Co
IGN Internet Global Network Inc 1994-07-15 Became a director of Co
1994-10-13 Was disclosed as holding an option on shares of Co
1995-08-30 Was disclosed as a shareholder of Co
1996-09-13 Was disclosed as holding an option on shares of Co
1999-06-15 Was disclosed as holding an option on shares of Co
1999-09-23 Became a former director of Co
2001-03-07 Became a director of Co
2001-09-30 Became a former director of Co
2002-01-25 Was disclosed as holding an option on shares of Co
International Thunderbird Gaming Corp 1992-11-15 Became a director of Co
1993-08-26 Bought a private placement in Co
1993-10-19 Bought a private placement in Co
1994-03-31 Was disclosed as a shareholder of Co
1995-09-19 Was disclosed as holding an option on shares of Co
1996-05-01 Was disclosed as holding an option on shares of Co
1997-09-24 Was disclosed as holding an option on shares of Co
1998-05-18 Became a former director of Co
2001-03-07 Became a director of Co
2001-06-12 Became a former director of Co
Mammoth Energy Inc 1996-08-22 Became a director of Co
1996-12-09 Was disclosed as holding an option on shares of Co
1997-12-15 Became a former director of Co
Mantra Mining Inc 1998-07-30 Became a director of Co
1999-01-15 Was disclosed as a shareholder of Co
2000-06-30 Was disclosed as holding an option on shares of Co
2000-08-24 Was disclosed as a vendor to Co
2004-02-18 Received shares for debt
2004-07-12 Was disclosed as holding an option on shares of Co
2006-08-30 Bought a private placement in Co
Mask Resources Inc 1999-05-11 Bought a private placement in Co
Medbroadcast Corp 1999-06-17 Bought a private placement in Co
medEra Life Science Corp 1999-06-17 Bought a private placement in Co
Milan Resources & Explorations Ltd 1988-08-15 Became a director of Co
1989-09-15 Became a former director of Co
Monetary Capital Corp 2000-08-24 Was disclosed as a former shareholder of Co
Mountain Province Diamonds Inc 1992-06-15 Received shares for debt
1992-06-15 Was disclosed as a shareholder of Co
1995-10-30 Was disclosed as holding an option on shares of Co
1995-11-27 Became a director of Co
1997-11-03 Became a former director of Co
Mountain Province Mining Inc 1992-06-15 Received shares for debt
1992-06-15 Was disclosed as a shareholder of Co
1995-10-30 Was disclosed as holding an option on shares of Co
1995-11-27 Became a director of Co
1997-11-03 Became a former director of Co
Multinational Resources Inc 1996-05-23 Bought a private placement in Co
My Venture Inc 2000-07-26 Became a director of Co
2001-03-07 Was disclosed as holding an option on shares of Co
Nevsun Resources Ltd 1993-03-17 Bought a private placement in Co
New Signet Resources Inc 1993-02-15 Became a director of Co
Olympic Resources Ltd 1996-06-03 Bought a private placement in Co
Premier Gold Resources Inc 1987-10-15 Was disclosed as an officer of Co
1988-01-15 Was disclosed as a former officer of Co
1988-01-30 Became a director of Co
1989-01-26 Was disclosed as a shareholder of Co
1991-04-19 Bought a private placement in Co
1991-04-22 Received shares for debt
1992-02-18 Bought a private placement in Co
Regal Gold Corp 1993-08-26 Became a director of Co
1993-08-26 Bought a private placement in Co
1993-10-19 Bought a private placement in Co
1994-01-26 Was disclosed as a shareholder of Co
Safeguard Ventures Inc 1987-12-30 Became a director of Co
1988-09-30 Was disclosed as a shareholder of Co
1989-07-15 Was disclosed as an officer of Co
1990-05-14 Bought a private placement in Co
Sierra Madre Resources Inc 1992-11-05 Became a director of Co
1992-12-26 Was disclosed as a shareholder of Co
1993-02-16 Bought a private placement in Co
Softcare EC Inc 1999-06-18 Bought a private placement in Co
SoftCare EC.com Inc 1999-06-18 Bought a private placement in Co
Thunderbird Resorts Inc (1) 1992-11-15 Became a director of Co
1993-08-26 Bought a private placement in Co
1993-10-19 Bought a private placement in Co
1994-03-31 Was disclosed as a shareholder of Co
1995-09-19 Was disclosed as holding an option on shares of Co
1996-05-01 Was disclosed as holding an option on shares of Co
1997-09-24 Was disclosed as holding an option on shares of Co
1998-05-18 Became a former director of Co
2001-03-07 Became a director of Co
2001-06-12 Became a former director of Co
Triex Minerals Corp 2002-07-16 Became a director of Co
2002-12-18 Became a former director of Co
Triex Resources Ltd (2) 2001-08-20 Became a director of Co
Velvet Exploration Company Ltd 1997-05-21 Bought a private placement in Co
Velvet Exploration Ltd 1997-05-21 Bought a private placement in Co
Wall Street Ventures Inc 1988-06-15 Became a director of Co
1989-03-15 Became a former director of Co
1989-10-15 Became a director of Co
1990-05-15 Became a former director of Co
Weststar Resources Corp 2007-03-05 Became a director of Co
Winters Gold Hedley Ltd 1992-11-04 Became a director of Co
1993-03-16 Was disclosed as a shareholder of Co
World Wise Resources Inc Was disclosed as a shareholder of Co
1988-01-15 Was disclosed as an officer of Co
1988-01-30 Became a director of Co
1992-07-15 Became a former director of Co
1992-07-15 Was disclosed as a former officer of Co
World Wise Technologies Inc Was disclosed as a shareholder of Co
1988-01-15 Was disclosed as an officer of Co
1988-01-30 Became a director of Co
1992-07-15 Became a former director of Co
1992-07-15 Was disclosed as a former officer of Co
wwbroadcast.net Inc (1) 2000-01-26 Bought a private placement in Co
Yardley Capital Inc 2001-05-15 Became a director of Co
2002-03-05 Was disclosed as a shareholder of Co
2002-03-05 Was disclosed as holding an option on shares of Co
Zen International Resources Ltd 1996-11-18 Bought a private placement in Co
I look forward to the KCL drilling because it will be for a pilot plant
not poking holes in moose pasture hoping for the next big thing
well thats the million dollar question where are we in the cycle
i think we got a ways to go enough to pad our pockets more yet
in Potash with a solution mine next door I guess
but they didnt put anything in the measured catagory so its still a casino play
Nother new Potash play...
Mantra options Elkhorn project
2008-02-26 11:30 MT - News Release
Mr. Raj Chowdhry reports
MANTRA MINING INC. ACQUIRES OPTION ON ELKHORN POTASH PROJECT IN MANITOBA, CANADA
Mantra Mining Inc. has entered into an option agreement pursuant to which the company has been granted the option to earn up to a 100-per-cent interest in an exploration permit application for the Elkhorn potash project, located within southwest Manitoba. The application encompasses 12 townships, along the Manitoba-Saskatchewan border covering approximately 110,592 hectares (approximately 276,480 acres).
Mantra chief executive officer, Raj Chowdhry, comments: "We are very pleased to announce the acquisition of the Elkhorn potash project. The existing infrastructure in the Elkhorn project area, together with the close proximity to major producers, such as Potash Corp.'s Rocanville mine, will allow Mantra the opportunity to create shareholder value. This significant land package, located in a premier potash mining district, with significant corporations such as Agrium Inc. and BHP Billiton as neighbours, affords Mantra shareholders a project with large blue-sky potential while demand for potash increases significantly worldwide."
The permit area
The Elkhorn potash permit is enclosed both to the north and south by land/permits held by Western Potash Corp. Additional land/permit holders within a short distance to the north of Elkhorn potash project include: Agrium Inc. and Manitoba Potash Corp., which is held 51 per cent by BHP Billiton and 49 per cent by the government of Manitoba. BHP has previously announced a $15-million exploration program for the Russell-Binscarth deposit held by Manitoba Potash. Further, immediately west of the border in Saskatchewan, Potash Corp. of Saskatchewan recently announced a $1.8-billion expansion at the Rocanville mine, increasing the capacity to about five million tonnes annually, to meet the growing world demand for potash.
The Elkhorn potash project was acquired to cover potential extensions of the potash-rich members of the Prairie Evaporite, which has been mined, according to Davies et al. (1962, page 178), for over 50 years in Saskatchewan.
According to Davies et al. (Bannatyne, Barry and McCabe, 1962): "Beds rich in potash salts occur in the upper part of the Devonian Prairie Evaporite in a narrow area along the west edge of the province from township 4 through to township 21. The potash occurs at depths ranging from 2,560 feet (780 metres) in the north to 4,400 feet (1,241 m) in the south. S.A.M. Explorations Ltd. drilled the northern part of the area from 1956 to 1958, and their three wells indicated a potash bed six to eight feet thick, grading 25 per cent K2O or better..."
Terms of the option agreement with the arm's-length optionors
The Elkhorn potash option entitles the company to earn the sole and exclusive right and option to acquire up to an undivided 100-per-cent-right, title and interest in and to the permits in accordance with the terms of the option agreement as follows:
The company must make cash payments of $500,000 to the optionors as follows:
On the date of signing of the option agreement, $25,000 (paid);
Within five business days from the effective date, $100,000;
Within 30 business days of the acceptance of the option agreement by the TSX Venture Exchange, $125,000.
A total of $225,000 of the aforementioned payments is refundable in certain circumstances, such as if the permits are not granted within a fixed period of time. Further, subject to the optionors receiving valid permits from the Manitoba Permit Authority and the optionee receiving acceptance of the option agreement from the TSX-V, the company must make the following cash payments.
On or before six months after the approval date, $100,000;
On or before 14 months after the approval date, $150,000.
The company must issue six million shares to the optionors subject to the optionors receiving permits from the Manitoba Permit Authority on at least 120,000 acres (total shares to be prorated down based on 120,000 acres in the event the permits cover less than 120,000 acres) and the optionee receiving acceptance of this agreement from the TSX-V:
Within 12 months of the approval date, 1.2 million shares;
Within 24 months after the approval date, 1.8 million shares;
On or before 36 months after the approval date, three million shares.
In addition, in the event certain resource, drilling, market capitalization and financing milestones are met by the company, then 50 per cent of all unissued shares making the total shares will be issued immediately to the optionors, subject only to TSX-V approval.
The company must incur the following cumulative expenditures of not less than $3-million on the permits as follows:
Within 14 months of the later of the date the optionors receive valid permits from the Manitoba Permit Authority and the approval date, $500,000;
Within 24 months of the later of the date the optionors receive valid permits from the Manitoba Permit Authority and the approval date, $1.5-million;
Within 36 months of the later of the date the optionors receive valid permits from the Manitoba Permit Authority and the approval date, $3-million.
Finder's fee
The company, subject to TSX-V approval and various other conditions, has agreed to pay a finder's fee of 240,000 shares.
Potash outlook
RBC Capital analyst Fai Lee in the Financial Post article dated Jan. 22, 2008, although focused on Potash Corp., points out the strong demand for potash from Southeast Asia as a major catalyst in the continuing surge in prices paid for potash. The article also references historic lows in both customer and distributor warehouse inventories.
Involvement in potash, the major component in the fertilizer arena, at a time when the world's growing population's need for food is subject to continued growth, especially in China, India and the rest of Asia, provides Mantra a unique and highly promising position to create shareholder value.
The indicated and inferred are classified according to NI 43-101 in the report. In fact the authors took an even more conservative approach with thier estimates than Mosaic does with 35 yrs of solution mining experience there.
http://www.potash1.com/i/pdf/TechnicalReport20070208.pdf
Starting at bottom of page 55
This report classifies the potash mineralization in terms of Inferred Mineral Resource and Indicated Mineral Resource as defined by NI 43-101. This reflects the level of confidence in the identified sylvinite body and the location of the Permit adjacent to the operating Belle Plaine potash solution mine. In the vicinity of the cored drill holes, the evidence is sufficient to classify areas as Inferred and Indicated Mineral Resource. No Measured Mineral Resource is identified because no engineering studies have been completed. At the Belle Plaine lease area to the south of the Permit Area, the mine operator Mosaic classifies the “non-reserve” mineralization for the entire lease area as “Potentially Recoverable Tonnes” even though some locations are up to 14 miles (22.53 km) from cored drill holes. (The Mosaic Company Form 10-K Submitted to the US SEC, for year ended May 31, 2005).
The classification of resources as Inferred and Indicated Mineral Resource is as follows;
• Indicated Mineral Resource: Within 1 mile (1.60 km) of a cored and assayed drill hole
• Inferred Mineral Resource: Within 1 mile (1.60 km) minimum and 5 miles (8.05 km) maximum radius of cored and assayed drill hole
The rationale for this is based on “best practice” from the adjoining Mosaic Belle Plaine solution mining operations. In determining which portions of Permit KP 289 should be classed as “Inferred Mineral Resource” or “Indicated Mineral Resource,” it is suggested that the methods used by The Mosaic Company to define Proven Reserves and Probable Reserves in their Form 10 K submission to the United States Securities and Exchange Commission (US SEC) be considered for guidance. The Mosaic Form 10 K described their method of defining these two categories of reserve and is meaningful for application to the Permit KP 289 because the Belle Plaine solution mining operations are similar to the conceptual mine plan anticipated for the commercial extraction of potash from the Permit Area, the same beds are to be mined as at the Mosaic Mine, and the Mosaic solution mining operations are within 9 km of the permit’s southern boundary. In defining “Reserves,” Mosaic Form 10 K states that “Our
estimates of our potash reserves and non reserve potash mineralization are based on exploration drill hole data, seismic data and actual mining results over more than 35 years (more than 15 years in the case of Hersey). Proven reserves are estimated by identifying material in place that is delineated on at least two sides and material in-place within a half mile (0.804 km) radius or distance from an existing sampled mine entry or exploration core hole. Probable reserves are estimated by identifying material in place within a one mile radius or distance from an existing sampled mine entry or exploration core hole. Historical extraction ratios from the many years of mining results are then applied to both types of material to estimate the proven and probable reserves.” It is our opinion that the methodology applied to the calculation of “Proven” and “Probable Reserve” calculations are similar to those used to estimate the categories of “Measured” and “Indicated” Mineral Resource consistent with the nomenclature of NI 43-101. What is of value from the Mosaic 10 K submission to the US SEC is the definition of the radius from a cored drillhole that has been used to define Proven or Probable reserves. The authors suggest that this precedent can be used to establish the distance from a drill hole for inclusion of resource in the category of Measured and Indicated Resource. The “Indicated” class of Mineral Resource requires a higher level of confidence than the broader description of “Inferred Mineral Resource.” In the case of a bedded sedimentary deposit that is not revealed in outcrop but only testable through drilling, the key determinant that may increase the confidence of a mineral resource estimate from “Inferred” to “Indicated” is the proximity to a cored and assayed drill hole. It is the opinion of the authors that only those portions of Permit KP 289 that have been herein defined as “Area 2” and that are beyond 1 mile (1.60 km) of a cored drill hole may have the potential to be classed as “Inferred.” The radius of 5 miles (8.05 km) from a cored drill hole was selected to limit the extent of the inferred Resource even though Mosaic reports their “non-reserve” potentially recoverable tons extends to the extent of boundaries of the mineral rights owned or leased. Mosaic states that such boundaries are up to 14 miles (22.53 km) from the closest sampled mine entry or exploration core hole.
Finally got around to ordering my new plate
makes great ferts too!
they just have to announce a jv with john deere to put laptops in tractors :)
Pakistan blocks YouTube - how did it happen?
* Rory Cellan-Jones
* 25 Feb 08, 14:30 GMT
Just before Darren Waters broke the story about YouTube's outage last night, I was fielding calls from friends questioning my technical competence. I had posted a video of a recent ski-ing holiday on YouTube, and emailed the link to my fellow skiers - only to hear from them that the video just wouldn't play.
Computer screen showing YouTubeSo I was rather relieved to discover that it was a global outage - rather than my incompetence - which was frustrating my friends and millions of other YouTube users. At first Google told me it was unlikely to have anything to do with Pakistan, or the row over alleged anti-Islamic material on the site.
But by this morning YouTube's owners had decided otherwise - and released this statement:
"For about two hours, traffic to YouTube was routed according to erroneous Internet Protocols, and many users around the world could not access our site. We have determined that the source of these events was a network in Pakistan. We are investigating and working with others in the internet community to prevent this from happening again."
Hmmmm - well I'm not sure that makes it a lot clearer. But here is how a spokesman from the London Internet Exchange - which handles huge amounts of internet traffic - explained it to me, with great patience.
So the Pakistani authorities order the country's ISPs to block access to YouTube. That is done by the country's telecoms provider sending out what is, in effect, a new - and false - route to get to YouTube. The result is that any traffic from Pakistani users to YouTube gets directed into a cul-de-sac. So far, so normal, for any country - China, Turkey, Iran - which decides to control its population's access to certain websites.
But what appears to have happened in this case is that the dodgy route map somehow leaked beyond Pakistan's borders, and was adopted by the giant Asian telecoms business PCCW. Once it started broadcasting this new way to find YouTube, the rest of the world's ISPs altered their maps, sending everyone up the wrong road.
Which all raises some interesting issues. The internet is an open self-correcting mechanism which runs on trust - if someone announces a new route to YouTube, others will take it as read that they are acting in good faith.
What we need to know now is whether this was a mistake or a deliberate attempt by Pakistan to disrupt YouTube beyond its own borders. Google still isn't sure - but it must now be aware that it and other global businesses are vulnerable to attacks from hostile governments.
A decade ago it was widely assumed that the internet would defeat attempts by governments to control freedom of speech and thought. But in this latest encounter the score looks like Government 1 - Internet 0.
UN warns over food aid rationing
The director of the UN's World Food Programme has said it is considering plans to ration food aid because of rising prices and a shortage of funds.
Josette Sheeran told the BBC that the WFP needed increased contributions from donors to make sure it could meet the needs of those who already rely on it.
She said it also faced growing demands from countries like Afghanistan, where people were now unable to afford food.
Food prices rose 40% last year because of rising demand and other factors.
Earlier this month, the UN Food and Agriculture Organisation (FAO) said the rising price of cereals such as wheat and maize had become a "major global concern".
The FAO estimated poor countries would see their cereal import bill rise by more than a third this year. Africa as a whole is expected to see a 49% increase.
The organisation has called for urgent action to provide farmers in poor countries with improved access to seeds and fertiliser to increase crop production.
'Growing needs'
In an interview with the BBC on Monday, Ms Sheeran said the WFP was holding talks with experts to decide whether food aid would need to be stopped or rationed if new donations did not arrive at the agency in the short term.
In some of these developing countries, prices have gone up 80% for staple food
Josette Sheeran,
WFP executive director
The former US undersecretary of state said she hoped the cuts could be avoided, but warned that the agency's budget requirements were rising by several millions of dollars a week because of the higher food prices.
"If food is twice as expensive, we can bring half as much in for the same price and the same contribution," she said.
"It will take increased contributions to make sure we can meet those already assessed needs."
Ms Sheeran said there was an urgent need for the funding shortage to be addressed because "in many places, we are the only source of food for some people".
"We're also seeing some new growing needs in some places like Afghanistan, where people are being thrown into food insecurity just simply due to the higher food prices."
She said those who had been hardest hit so far were people in developing countries who were living on 50 US cents (£0.25) a day, 80-90% of which was already being spent on food.
"In some of these developing countries, prices have gone up 80% for staple food," she added. "When you see those kinds of increases, they are simply priced out of the food markets."
Even middle-class, urban people in countries such as Indonesia, Yemen and Mexico were increasingly being priced out of the food market or forced to sacrifice education and healthcare, she warned.
Ms Sheeran said Egypt had just widened its food rationing system after two decades and Pakistan had reintroduced ration cards after many years.
China and Russia were meanwhile imposing price controls, while Argentina and Vietnam were enforcing foreign sales taxes or export bans, she said.
The WFP's ability to mitigate the impact of rising food prices has also been hampered by a significant decrease in the past five years of supplies of "in-kind food aid" - food produced abroad and delivered to vulnerable people in emergencies.
In-kind food aid peaked in 2000, when there were large surpluses and low prices for cereals.
The US, the world's largest donor of food aid, has since reduced its surplus and instead chosen to provide funding to international agencies.
new ath!
I can take profits! Na going to be multiple gains from here.
and POZ too!!!
Are they making that leap? building spermicide into food?
Thanks, missed it but ya we get all the US stuff on cable.
you lie
http://www.potash1.com/s/Home.asp
The Legacy Potash Project positions Potash One as one of the very few junior public companies with current Potash permits,
43-101 compliant resources and active work programs in the Saskatchewan Potash basin.
and they can keep their 26th-floor Bay Street offices. We got the grassroots board :)
Manny I like your line of thinking.
The people that bought the private placement,by getting NO discount to the then price of 4 dollars,
gave a huge vote of confidence to the current management in being successful with creating huge value for the stockholders in the future
But why not take this one step further?
What if Potash One was already entertaining some serious "sniffing" from one or more majors?
I think they might have the Strategic Assessment Study from Ercosplan in hand, it was due at the end of last year.
No sign or even mention of it though... hmm.
So with all the sudden interest in this sector this year maybe a buyout all of the sudden looks alot closer than anyone thought back in November.
What would the board do in that senerio?
Issue options? 2008-01-29
Do another private placement so everyone is onboard at a good price? 2008-02-21
Do some posturing? Like maybe appear on BNN to highlight the company? 2008-02-22
Yes the coming weeks could be very interesting.
anybody catch this tidbit?
a reserve for acquisitions
How about a reserve for being acquired? lol
two of them hanging around, we are watching for when they shed :)
Congrats to those who play the ups and downs, I doubt that's Paul's strategy though.
Also whoever paid $4.04 for those million shares is likely aware of the Ercosplan Strategic Assessment Study and is not in for a flip.
You could revisit this poster's comments from a few weeks ago
http://investorshub.advfn.com/boards/profile.asp?user=116364
Think big
Something about these ads appeals to me
Dont Panic!
Johnlw if he had stayed in BC