Potash One fka KCL

[Tackler]

So PowerOne involved again along with one other finder. lowpdop's "2008 Time line" post got me thinking...

Cost 2008:

Acquire 3D seismic = 1,000,000
ENG/GEO Consulting = 750,000
Pilot Drilling Studies = 3,000,000
G&A = 750,000

2008 estimated costs = 5,500,000

Of which they just raised 2x that 11,000,000 (so probably no big PP’s for a while at a lower share price)

I went to look at the corporate presentation on the website and its gone but got this...

Share Structure
Shares outstanding 24,768,422
Working capital $2.4 million
Fully diluted working capital $9 million
Institutional ownership Over 25%

So fully diluted they have access to $9 million, the last private placement
http://investorshub.advfn.com/boards/read_msg.asp?message_id=19000132
has 7 million warrants expiring on April 20th.

So why this placement? they didnt need the money.