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Thanks for the article (great find) and for sharing the email.
We are initiating coverage on Allana Potash with a Buy (S) rating and a .95 target.
The overwhelming majority of greenfield MOP developments will not be built. However,
considering Allana’s strategic geographic position, its unique cost advantage enabled by the
opportunity to implement low cost solution mining and solar evaporation processing
methods, and the involvement of a Chinese investment fund, which reduces financing risk
and highlights the projects strategic value, we believe the Dallol project has one of the
highest probabilities of production.
>>>all the goddamn Junior potash companies on my watch list are RED !!!<<<
And what's your point?
Mike: Did you have any luck in contacting Dr. Bob?
TIA
Potash One Submits an Environmental Impact Statement for Its Legacy Potash Solution Mine
ccnm
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2010) - Potash One Inc. ("Potash One" or the "Company") (TSX:KCL) is pleased to announce that on February 28th, 2010, the Company submitted to the Saskatchewan Ministry of the Environment ("MOE" or the "Ministry") an environmental impact statement ("EIS") for its Legacy Potash Solution Mine in southern Saskatchewan.
Following the submission of the Project Proposal to the MOE in September 2009, the Ministry developed and published Project Specific Guidelines for the Legacy Project ("Project"). These guidelines provided the basis for the EIS and defined the key items or issues that the Ministry required to be addressed in the EIS.
The submission of the EIS culminates a 2-year effort in environmental baseline data collection, environmental design work, impact assessment analysis and also provides a comprehensive view of the Legacy Project's expected impact on the local and regional environments. The EIS provides Project information and data upon which the MOE will consider granting environmental approval ("Environmental Approval") for the Project. Approval from the Minister of Environment is required under the Saskatchewan Environmental Assessment Act before the proponent of a development (in this case, Potash One) may apply for and receive detailed construction and operating permits under other legislation.
It is expected that the technical review of the EIS and subsequent MOE advice with respect to public consultations and requests for specific additional information will require several months. On that basis, the Company expects the final decision on Environmental Approval before the end of 2010.
Paul F. Matysek, President and Chief Executive Officer of Potash One, stated: "We are very pleased to have achieved another key milestone in the development of the Legacy Project. Our initial decision to conduct a comprehensive two year study gives us great confidence that we fully understand the environmental impact of the Legacy Project and we can successfully address any concerns in our final development plan. We have always adopted a thorough, cooperative and transparent approach to regulatory and environmental matters and that is why we selected an experienced firm like Golder Associates Ltd. of Saskatoon, to be our lead consultant on our EIS study. We look forward to a positive outcome which will launch Legacy into its final stage of development."
ON BEHALF OF THE BOARD OF DIRECTORS,
Paul F. Matysek, M.Sc., P.Geo., President and Chief Executive Officer
About Potash One Inc.:
Potash One Inc. is a well-funded TSX-listed Canadian resource Company engaged in the exploration and development of advanced potash properties amenable to solution mining. The Company owns a 100% interest in the 97,240 acre Legacy Project which has an NI 43-101 compliant Measured Resource of 29 million tonnes of recoverable KCl, Indicated Mineral Resource of 222 million tonnes of KCl and an Inferred Mineral Resource of 853 million tonnes of KCl. The Company has recently completed a pre-feasibility study with SNC-Lavalin with robust economics at current potash pricing. The Legacy Project is adjacent to the largest producing solution potash mine in the world. The Company also owns more than 515,000 acres of Potash Subsurface Exploration Permits in Saskatchewan, Canada.
FEBRUARY 15, 2010, 6:23 A.M. ET.Yara to Acquire Terra in $4.1 Billion Deal
Wall Street Journal
By KARL BRUZE
STOCKHOLM—Norwegian fertilizer company Yara International ASA Monday said it has agreed to acquire Terra Industries in a deal valued at $4.1 billion.
Yara said it planned to fund the acquisition by raising between $2 billion and $2.5 billion in a rights issue.
The company also reported a better-than-expected fourth quarter net profit, as global fertilizer demand has picked up from last season, when financial stress and risk aversion by distributors and farmers led to de-stocking in addition to lower application.
Yara's fourth-quarter net profit rose to 1.42 billion Norwegian kroner ($240.7 million) from a loss of 2.11 billion kroner a year earlier, above analysts' expectations for 472.2 million kroner. The net profit was boosted by a 1 billion-krone tax credit. "We saw a major improvement in fertilizer markets towards the end of the fourth quarter, as global nitrogen and phosphate markets turned demand-driven," said Jorgen Ole Haslestad, President and Chief Executive Officer of Yara.
Revenue in the fourth quarter was 13.40 billion kroner, down from 18.76 billion kroner a year ago, and below analysts' expectations for 14.12 billion kroner.
Analyst Are Grongstad at Agilis Faerder, which has a "strong buy" rating with a target price of 350 kroner for Yara, said the company's numbers were very good overall.
"Revenues were a bit disappointing, but margins and net income were very good numbers," Grongstad said, adding that the news on a deal with Terra Industries was also positive.
Based in Sioux City, Iowa, Terra has about 940 employees in the U.S. and Canada. Yara employs 8,000 people world-wide and provides fertilizer to 120 countries.
Fertilizer stocks fall after USDA corn report
11:13 EST Tuesday, January 12, 2010
* Corn futures tumble following bearish USDA data
* Shares of Potash Corp, Agrium, Mosaic and others fall
TORONTO, Jan 12 (Reuters) - Shares of major North American fertilizer companies fell on Tuesday after the U.S. Agriculture Department raised its estimate for 2009 U.S. corn production to a record high, sending grain futures crashing on the Chicago Board of Trade.
The U.S. corn crop was pegged at 13.151 billion bushels, up by 230 million bushels from the government's last forecast. The figure was also 330 million bushels higher than the average of analysts' estimates. The USDA also forecast a record 2009 soybean harvest of 3.361 billion bushels.
Corn futures on the Chicago Board of Trade fell the daily 30-cent limit in early trade following the bearish data in USDA's January crop reports, while soybeans and wheat futures also fell sharply.
The falling grain prices hit shares of fertilizer producers, whose shares are typically afffected by major moves in grain prices.
Shares of Potash Corp fell 3.2 percent to C$122.90 in morning trade on the Toronto Stock Exchange, while those of Agrium were down 1.3 percent at C$70.67.
Shares of Mosaic Co were down 3.3 percent at $64.14 on the New York Stock Exchange, while those of Terra Industries and CF Industries fell 1.5 percent and 2.1 percent, respectively.
Job prospects drawing students to agriculture schools
David Mercer
Thursday, December 03, 2009
Champaign, Ill. — Tristesse Jones will probably never drive a tractor or guide a combine through rows of soybeans at harvest time.
There isn't a farm within miles of where she grew up on Chicago's west side, but she's set to graduate with a bachelor's degree in crop sciences from the University of Illinois' agriculture school next spring.
“People ask me what is my major, and they say ‘What is that? So you want to grow plants?'” Ms. Jones said.
She is one of a growing number of students being drawn to agriculture schools around the country not by ties to a farm but by science, the job prospects for those who are good at it and, for some, an interest in the environment.
Enrolment in bachelor's degree programs in agriculture across the country grew by 21.8 per cent from 2005 to 2008, from about 58,300 students to nearly 71,000, according to surveys conducted by the U.S. Department of Agriculture. And the numbers are likely higher — not all schools respond to the surveys.
National enrolment figures for 2009 aren't yet available, but numbers from major schools make clear the trend continues: The University of California-Davis has more than 5,490 students enrolled in agricultural majors – a jump of 210 from a year earlier. Purdue University has 2,575 ag students this fall, up 40 from last year.
Yet the number of farms nationwide has dropped for decades. There were about 2.4 million farms in the United States in 1978, and 2.2 million last year, according to the USDA.
Many students are choosing to major in agriculture, educators from across the country say, after finding out that much of what they'll learn is science – biology, chemistry and a long list of more specialized areas that can land them jobs at companies that produce the seeds and chemicals for farmers or in still-forming industries like biofuels.
Almost a quarter of the incoming freshmen at the University of Wisconsin each year say they want to do “something in biology,” said Bob Ray, associate dean for undergraduate programs and services.
Agriculture schools are doing their best to reach out to such students.
Texas A&M University's College of Agriculture and Life Sciences has several full-time recruiters on the road talking to high school students. It also uses its website, YouTube and social networking sites such as Facebook and Twitter to reach prospective students. A lot of the messages boil down to job prospects.
“Every one of our poultry science graduates, they average about five job offers per graduate,” college spokesman Bill Gibbs said.
Demand for science graduates, agriculture industry officials say, outstrips supply.
Monsanto , the St. Louis agribusiness giant that makes seeds, pesticides and an array of other farm products, can't hire enough.
“We find it really hard to find people in science, in particular, because they tend to get snatched up by medical and health care-related things,” said Monsanto spokesman Darren Wallis, adding that it has openings for 100 researchers in St. Louis.
UC-Davis' College of Agricultural and Environmental Sciences is one of the country's biggest ag schools and still has plenty of students studying in traditional areas, said Diane Ullman, the college's associate dean for undergraduate academic programs.
But more than 3,200 of UC-Davis' ag students — almost 60 per cent – are studying so-called human sciences, such as nutrition, or environmental sciences, such as environmental policy and landscape architecture.
“I think that young people are recognizing all of the issues that surround our society that have to do with food, and I think there's a real interest in new ways of doing things and solving some of these problems,” Ms. llman said.
Kate Molak is one of the students Ms. Ullman is talking about.
Ms. Molak is from Portola Valley, a suburb of San Jose, and plans to graduate in June with a bachelor's degree in community regional development. She wants to work in public health.
“I wouldn't say that agriculture necessarily has anything to do with that, but we do deal with a lot of environmental issues with public health,” she said.
At Illinois, Ms. Jones said she wound up in the ag department after her high school pompon coach – who happened to be a biology teacher – steered her toward a summer science program at the university.
“I always liked to pick apart worms – I thought I was a weirdo,” Ms. Jones said
Now she's applying to graduate programs and hoping she'll eventually be a research professor, maybe working on how to grow a better soybean.
“I love doing research,” she said. “Just having that hands-on experience, and being able to see the product, even if it takes years to see it.”
© Copyright The Globe and Mail
Job prospects drawing students to agriculture schools
David Mercer
Thursday, December 03, 2009
Champaign, Ill. — Tristesse Jones will probably never drive a tractor or guide a combine through rows of soybeans at harvest time.
There isn't a farm within miles of where she grew up on Chicago's west side, but she's set to graduate with a bachelor's degree in crop sciences from the University of Illinois' agriculture school next spring.
“People ask me what is my major, and they say ‘What is that? So you want to grow plants?'” Ms. Jones said.
She is one of a growing number of students being drawn to agriculture schools around the country not by ties to a farm but by science, the job prospects for those who are good at it and, for some, an interest in the environment.
Enrolment in bachelor's degree programs in agriculture across the country grew by 21.8 per cent from 2005 to 2008, from about 58,300 students to nearly 71,000, according to surveys conducted by the U.S. Department of Agriculture. And the numbers are likely higher — not all schools respond to the surveys.
National enrolment figures for 2009 aren't yet available, but numbers from major schools make clear the trend continues: The University of California-Davis has more than 5,490 students enrolled in agricultural majors – a jump of 210 from a year earlier. Purdue University has 2,575 ag students this fall, up 40 from last year.
Yet the number of farms nationwide has dropped for decades. There were about 2.4 million farms in the United States in 1978, and 2.2 million last year, according to the USDA.
Many students are choosing to major in agriculture, educators from across the country say, after finding out that much of what they'll learn is science – biology, chemistry and a long list of more specialized areas that can land them jobs at companies that produce the seeds and chemicals for farmers or in still-forming industries like biofuels.
Almost a quarter of the incoming freshmen at the University of Wisconsin each year say they want to do “something in biology,” said Bob Ray, associate dean for undergraduate programs and services.
Agriculture schools are doing their best to reach out to such students.
Texas A&M University's College of Agriculture and Life Sciences has several full-time recruiters on the road talking to high school students. It also uses its website, YouTube and social networking sites such as Facebook and Twitter to reach prospective students. A lot of the messages boil down to job prospects.
“Every one of our poultry science graduates, they average about five job offers per graduate,” college spokesman Bill Gibbs said.
Demand for science graduates, agriculture industry officials say, outstrips supply.
Monsanto , the St. Louis agribusiness giant that makes seeds, pesticides and an array of other farm products, can't hire enough.
“We find it really hard to find people in science, in particular, because they tend to get snatched up by medical and health care-related things,” said Monsanto spokesman Darren Wallis, adding that it has openings for 100 researchers in St. Louis.
UC-Davis' College of Agricultural and Environmental Sciences is one of the country's biggest ag schools and still has plenty of students studying in traditional areas, said Diane Ullman, the college's associate dean for undergraduate academic programs.
But more than 3,200 of UC-Davis' ag students — almost 60 per cent – are studying so-called human sciences, such as nutrition, or environmental sciences, such as environmental policy and landscape architecture.
“I think that young people are recognizing all of the issues that surround our society that have to do with food, and I think there's a real interest in new ways of doing things and solving some of these problems,” Ms. llman said.
Kate Molak is one of the students Ms. Ullman is talking about.
Ms. Molak is from Portola Valley, a suburb of San Jose, and plans to graduate in June with a bachelor's degree in community regional development. She wants to work in public health.
“I wouldn't say that agriculture necessarily has anything to do with that, but we do deal with a lot of environmental issues with public health,” she said.
At Illinois, Ms. Jones said she wound up in the ag department after her high school pompon coach – who happened to be a biology teacher – steered her toward a summer science program at the university.
“I always liked to pick apart worms – I thought I was a weirdo,” Ms. Jones said
Now she's applying to graduate programs and hoping she'll eventually be a research professor, maybe working on how to grow a better soybean.
“I love doing research,” she said. “Just having that hands-on experience, and being able to see the product, even if it takes years to see it.”
© Copyright The Globe and Mail
Yup and this is just the list of public companies. I know of at least 1 private one and I suspect there are more.
It might just be a a numbers game. Get involved with 100 companies, get options, participate in PP's, collect director's / financing / other fees. If 10% make it, you'll make nothing but money.
Stan Bharti ... I am just in the middle of doing a bit of research on Stan. Quite the mover and shaker. See link or just google him. Lots of info available.
http://investing.businessweek.com/businessweek/research/stocks/people/person.asp?personId=5664133&ric=CT.V&previousCapId=876624&previousTitle=Vast%20Exploration%20Inc
I am personally not too fond of Stan right now because of the current Euro Control (EUO.V) deal he is involved with / was trying to "sneak through". The OSC agreed with the "sneak through" and halted the stock when contacted by shareholders.
I also know from an older communication that shareholders are not high up on his priority list but that doesn't mean that you can't make money with him.
Just my 2 cents and FWIW
Unloved by the herd ...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41391937
How's that for a juicy rumour?
Germany's K+S gains on talk of bid from PotashCorp
Fri Sep 4, 2009 5:51am EDT
Email | Print | Share| Reprints | Single Page[-] Text [+] Market News
Wall Street edges up after mixed payrolls data Oil drops below $68 after U.S. jobs data Gold slips below $990 after U.S. jobs data More Business & Investing News... Featured Broker sponsored link
FRANKFURT (Reuters) - Shares in K+S (SDFG.DE) rise on Friday as traders point to market talk that peer Potash Corp of Saskatchewan (POT.TO) might be considering bidding 50 euros per share for the German salts and fertilizer.
"The rumor is that Potash Corp is considering a 50 euros per share bid for K+S to strengthen its market position," says a Frankfurt-based trader.
K+S said it could not comment on the market speculation. Potash Corp was not available for immediate comment
At 0903 GMT, shares in K+S were 4.9 percent higher at 37.36 euros, having risen as high as 37.98 euros. They were one of the top gainers on the German large-cap index .GDAXI, which was 1.15 percent higher.
"The rumors seem a bit spurious to me. This is not the first time we've heard such a rumor and 50 euros per share is quite a premium" a second trader said.
(Reporting by Tyler Sitte and Patricia Gugau in Frankfurt, Blaise Robinson in Paris and Atul Prakash in London
Maybe not .15 but sub .20 wouldn`t surprise me.
Out of GAP as I hate / don't understand the segment and QUIETLY adding to CLQ, EVG and a few other currently not so loved ones.
No TA.
I see a set-up. Good, bad or whatever.
There is so much money still on the sidelines earning next to nothing and frustrated. Money that missed the last few months.
Frustrated money can do strange things to markets.
I see one heck of a spike. People are tired of this recession.
The media knows that and will cater to it.
Am I scewing up your TA with my FA?
Thanks. So, CC was the one with the iceberg
I was just kidding and yes, a lot of them did.
I was tempted too but I'm just not enough of a daytrader
Thanks for the oil chart. As you say, it's in the eye of the beholder.
The old Trader's Hideout ... Yup, was a good forum. I wonder where all these people went. Broke?
Me too. GXS has been good to me in the past.
Maybe someone is interested in this post of mine?
Don't feel obligated. LOL
http://siliconinvestor.advfn.com/readmsg.aspx?msgid=25852777
Hi John,
Appreciate your thoughts and the chart which I cannot / will not argue as I am very much TA challenged. Got into TA a few years back and bailed once I came to the conclusion that many TA gurus tend tend to manipulate the indicators they use in order to come up with the picture they "want". Ever since then I shamelessly steal my TA info from others.
Don on SI is one of those guys I steal from
http://siliconinvestor.advfn.com/subject.aspx?subjectid=52296
He is a pragmatist but I like his way of mixing TA with FA. The guy has made some pretty good calls over the years. Only problem is, he has his own language which one must learn first.
Cheers
There are a lot of perma bears / shorts out there AND there is a lot of "idle / non revenue producing" cash out there.
If either of these groups go into panic mode, watch the fireworks.
PS: Shorts have become increasingly argumentative which to me means, they are pretty nervous.
Just my take ...
Granted, this sort of trading can be frustrating but, on a more positive note, it creates a pretty good base for the next leg (direction unknown)
Thanks for the EVG trades. Crazy stuff.
Happen to see this on SH:
Spoke with I.R. she said news around a couple of weeks, spoke more highly of the possible low grade bulk tonnage then the high grade results. News on around 4 holes expected.
Thanks. Added a few EVG yesterday 1.44 - 1.46 in anticipation of news next week.
Thanks John. It was Red who has been harping about the Genuity action on EVG for weeks. They must have a huge stash of shares by now.
Makes me feel a little better to hear that I am not the only bozo who missed it.
Now I am too chicken to get in.
Yes John. I would "hold" for 3 years. Well, maybe not the whole batch but a good portion.
Maybe so but I am guessing an at least 3 year time frame.
Mosaic Climbs After Report Vale May Bid $25 Billion (Update2)
Share | Email | Print | A A A
By Helder Marinho and Christopher Donville
July 16 (Bloomberg) -- Mosaic Co., North America’s second- largest fertilizer producer, rose the most in eight months in New York after a Brazilian newspaper reported that Vale SA is preparing a $25 billion bid for the company. Vale shares fell.
Mosaic jumped 13 percent to $50.43 as of 10:41 a.m. on the New York Stock Exchange. Vale, the world’s biggest iron-ore miner, fell 2.3 percent to $17.65, the most since July 7. Vale’s Brazilian shares declined 1.1 percent to 29.84 reais.
A five-year rally that has pushed prices of potash, a raw material used to make fertilizers, up more than 300 percent has fueled speculation that Mosaic would be acquired. O Estado de S. Paulo reported, without saying how it obtained the information, that Vale and BHP Billiton Ltd. are both interested in purchasing the company.
“Mosaic is a little more than what I was expecting,” said Marcel Varejao, who covers Vale as an analyst at Sociedade Corretora Paulista, a Sao Paulo-based brokerage. “In a time like this, strategic acquisitions are seen as positive in the long run.”
Fernando Thompson, a spokesman for Rio de Janeiro-based Vale, said the company doesn’t comment on market speculation. Linda Thrasher, a spokeswoman for Mosaic and Lisa Clemens, a spokeswoman for Cargill Inc., which owns about 64 percent of Mosaic, both declined to comment.
Buyout Targets
“We wouldn’t comment on speculation or market rumor,” BHP’s London-based spokesman Illtud Harri said in an e-mail response when asked for comment.
Mosaic has been the subject of speculation this year that it may be acquired by Melbourne-based BHP, which said in February it may expand its investments in potash. Vale agreed in January to pay Rio Tinto Group $850 million for potash projects in Argentina and Canada.
Potash is a form of potassium, a primary agricultural nutrient with phosphorus and nitrogen. Companies such as Potash Corp., Agrium Inc. and Mosaic mine the material.
Companies including Mosaic and Potash Corp. of Saskatchewan Inc., the world’s largest producer of its namesake crop nutrient, are attractive buyout targets because they have existing mines, Terence Ortslan, a mining analyst at TSO & Associates in Montreal, said in an interview last month.
Mosaic is the world’s largest maker of finished phosphate products and the second-largest producer of potash by capacity, according to the company Web site. It has three potash mines in Saskatchewan, one in New Mexico and another in Michigan. The company also mines phosphate rock in Florida.
Vale denied last month it was planning an acquisition after Anglo American Plc’s board unanimously rejected a proposal from Xstrata Plc for a “merger of equals” to create a mining company that would compete with BHP. Vale’s negotiations to acquire Zug, Switzerland-based Xstrata broke down in April last year.
Vale’s Bond Offer
Any takeover talk is “market speculation,” Chief Executive Officer Roger Agnelli said on June 25.
A $1 billion convertible bond offer announced by Vale on July 6 further fueled speculation that the miner might acquire a rival in order to compete for access to resources when commodity demand rebounds.
“Potash, along with coal and copper, is part of Vale’s M&A/growth plan,” Itau Unibanco Holding SA analysts wrote in a note to clients today. “Vale sees Potash as the new iron ore.”
Vale raised 19.4 billion reais in Brazil’s largest-ever share offering in July 2008. At the time, Agnelli said the proceeds would be used to fund acquisitions and expand existing operations.
U.S. trading of bullish Mosaic options jumped to a record on July 10 amid renewed speculation that the fertilizer producer may be acquired. Mosaic shares have rallied 43 percent this year.
To contact the reporters on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net. Helder Marinho at hmarinho@bloomberg.net.
Last Updated: July 16, 2009 12:05 EDT
You are correct. China has been holding off in terms of supply contracts and has been buying existing inventory / over-production at "spot prices".
The question is ... Given the production cut backs, how much longer will this last?
India recently locked in 2009 supply at $650.
Canpotex Announces Second-Half 2009 Potash Sales to Korea and Taiwan
Canpotex announced today that it has concluded second-half 2009 contract business with a number of customers in both Korea and Taiwan at average equivalent delivered prices in the range of US$700/MT, depending on grade.
Source: Canpotex
Interesting idea but I doubt this could work in Canada given zoning restrictions
RR has gone fishing
I don't consider myself a RR crony but I did get out today. Hoping to revisit IAE once the overhang has found a home.
FWIW, I am here to stay a while. Actually added a few @ .65 today
News is now on Market Wire
Potash One Appoints Robert M. Friedland as Chairman, to Assist in Securing Financing for New Canadian Potash Production Project
11:28 EDT Tuesday, May 12, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2009) - Potash One Inc. (the "Company" or "Potash One") - Paul Matysek, President and Chief Executive Officer of Potash One Inc. (TSX:KCL), announced today that international financier Robert M. Friedland has agreed to become Chairman of the Board of Potash One. Mr. Friedland will advise the Company on its selection of strategic financing partners to develop Potash One's world-class potash (potassium) fertilizer resources in Saskatchewan, Canada.
In conjunction with Mr. Friedland's appointment as Chairman, Mr. Friedland's Singapore-based venture capital Company, Ivanhoe Capital Pte. Ltd., will work under a non-exclusive contract to introduce Asia-based investors to Potash One. Potash One's portfolio of exploration permits covers a total of 515,000 acres in Saskatchewan's potash-rich basin, northwest of Regina, which presently supplies approximately one-third of the global demand for this essential food-growing nutrient.
Potash One's initial focus is on the completion of a definitive feasibility study prior to arranging financing to construct a world-scale potash mine utilizing in-situ solution-mining technology for the recovery of potash on the Company's Legacy Project. The Legacy Project currently hosts indicated resources of 40.8 Mt and inferred resources of 391.5 Mt of K20 (measurement of potassium content), with an updated resource estimate pending as part of a nearly completed Pre-Feasibility Study.
Mr. Matysek stated: "Potash One's Legacy Project subject to positive feasibility and financing will be one of the world's first new potash mines to be brought into production since 1987. Mr. Friedland has the experience and understanding of international capital markets that will help fast-track Legacy's development as a reliable and competitive supplier. On behalf of the Board, I look forward to working with one of the world's most influential mining financiers and visionaries."
Mr. Friedland said he accepted the opportunity to participate in this major Canadian potash development after a review of the industry and the importance of the Legacy Project to the agriculture sector in Asia.
"Potash, or potassium, truly is the mineral of life," Mr. Friedland said. "Potash One represents the best new opportunity to develop a world-class potash operation using in-situ recovery technology that will produce a vitally important fertilizer ingredient that is indispensible for hundreds of millions of farmers who produce the food for the world's human and animal populations."
"Ivanhoe Capital is privileged to build a bridge for long-term, strategic capital investment between Canada and our friends in Asian sovereign-wealth funds and state-owned enterprises."
Mr. Friedland has been developing business links in Greater China and the Asia Pacific region for the past 25 years. He is Chairman of Ivanhoe Capital Corporation, his family's private company that specializes in venture capital and project financing from bases in Singapore and Beijing. With his leadership, Ivanhoe executives and affiliated benefiting companies have raised several billion dollars on international capital markets since 1993 to support a variety of natural resources, energy and technology companies.
Mr. Friedland is founder and Executive Chairman of Ivanhoe Mines - a Canadian public company whose shares trade on the New York, NASDAQ and TSX exchanges, and co-founder, Executive Chairman, President and Chief Executive Officer of Ivanhoe Energy, an established oil and gas producer that is developing heavy-oil projects in Canada and Ecuador using its advanced, proprietary, HTL heavy-oil upgrading technology. Ivanhoe Energy is listed on NASDAQ and the Toronto Stock Exchange. He also is Co-Chairman of Sunwing Energy, which is Ivanhoe Energy's operating subsidiary in China and Southeast Asia.
The Board of Directors also announces that Glen MacDonald has resigned as director of Potash One effective May 12, 2009. The Company would like to extend its gratitude to Mr. Macdonald for his contributions and commitment to the Company since joining the Company's board in 2003. Further, the Board would like to thank Mr. David Berg for his stewardship as chairman of the Board since 2007 and thank him for continuing on as a director of the Board.
About Potash One Inc.:
Potash One Inc. is a well-funded TSX-listed Canadian resource company engaged in development of advanced potash properties amenable to solution mining. The Company owns 100% of more than 515,000 acres of Potash Subsurface Exploration Permits in Saskatchewan, Canada. This includes the 97,240 acre Legacy Project which has an NI 43-101-compliant Indicated Mineral Resource of 40.8 million tonnes of K2O and an Inferred Mineral Resource of 391.5 million tonnes of K2O. The Legacy Project is adjacent to the largest producing solution potash mine in the world. Solution mining is scalable, with shorter time to production, and has significantly lower capex relative to conventional underground mines.
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the corporations' periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Statements in this press release other than purely historical information, including statements relating to the companies' future plans and objectives or expected results, constitute forward-looking statements. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the companies' business, including risks inherent in mineral exploration and development. The companies do not assume the obligation to update any forward-looking statement. In particular, no representation is made in this release as to the timing of the business combination, whether the business combination will complete on the terms described herein or at all, the success or value of the combined companies after the business combination. In addition, there are numerous risks and other factors that will influence a development decision, including concluding resource evaluations on mineral properties, mine design limitations, permitting risks and economic factors, all of which may be beyond our control.
FOR FURTHER INFORMATION PLEASE CONTACT:
Potash One Inc.
Paul F. Matysek, M.Sc., P.Geo.
President and Chief Executive Officer
(604) 331-4431
(604) 408-4799 (FAX)
info@potash1.com
www.potash1.com
or
Ivanhoe Capital
Bob Williamson
(604) 688-7166
bob@ivancorp.com
The Toronto Stock Exchange has neither approved nor disapproved the contents of this press release.
Outlook 2007 question:
Can I set up outlook on a new networked PC so I can send but NOT receive emails as I want all incoming emails to go to one computer only?
TIA
kidl