American West Potash (subsidiary of Prospect Global Resources) permitted 10 more exploration core holes in the Holbrook basin last week (AZOGCC permit numbers 1120-1130). [Right, AZGS potash core hole viewer] The holes are permitted by the Arizona Oil & Gas Conservation Commission because they penetrate potentially oil or gas bearing horizons.
This adds to a week of numerous announcements from the company, including word that a Chinese company signed a deal to buy 5 million tonnes of potash over a 10-year period for an estimated value of $2.375 billion, news that a private fund invested $100 million in the company, and that PGR would be issuing stock to raise the money needed to put an underground mine in operation by 2015.
Sunday, October 28, 2012
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