SYMBOL : PON-TSXv LAST : 0.175 CHANGE:
0.025 (12.50%)
SYMBOL : PON-TSXv LAST : 0.175 CHANGE:
0.025 (12.50%)
November 7, 2008
October 16, 2008
Potash North Resource Corporation ("Potash North" or the "Company") is a junior resource potash company focused exclusively on the exploration, evaluation and development of 2 subsurface potash permit areas (KP416 and KP417) totaling 185,000 acres in the Saskatchewan Potash Basin, immediately adjacent to Mosaic and Potash Corp.'s producing Esterhazy operations and 45 KMs north of Potash Corp.'s Rocanville Mine. These potash permit areas have been named the"Potash North Project."
Historical drilling on the potash permit areas has yielded encouraging results. Global potash production is currently dominated by a few majors who are running at or near full capacity. There have been no new potash mines on the prairies in almost 40 years.
As exploration and evaluation of the potash permit areas are taking place, Potash North intends to adopt a "top down" approach, forming financial alliances with international buyers to maximize leverage for shareholders.