extreme leverage - iron ore,potash,coal, page-2

Ringbolt has just finalised a capital raising so they have the cash to drill. They have also gone on a share price surge recently. You can check the chart at yahoo.com (RBV - TSX)The report is dated 16 March 2011.

RINGBOLT PLANS DRILLING FOR UTAH POTASH PROPERTY

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aRBV-1819919&symbol=RBV®ion=C

Ringbolt Ventures Ltd. has applied for permits to drill two holes on the Lisbon Valley potash project in Utah through its 70-per-cent holding in Potash Green Utah LLC.

The drilling will be carried out on Utah state leases. The drill holes will be completed to a depth of 7,200 feet to test the depth, thickness and grade of the potash beds at a cost of $775,000 (U.S.) per hole.

The Lisbon Valley project consists of nine state mineral leases totalling 6,421 acres and applications for potash-prospecting permits totalling 24,640 acres. The project is located in San Juan county, Utah, within the Paradox basin, a large sedimentary basin containing rocks of Pennsylvanian to Cretaceous age. The salt and potash beds are in the Pennsylvanian Paradox formation that is over 4,000 feet thick, with 29 separate cycles of salt, potash and clastic sediments. The salt beds are located near the top of the evaporate sequence and occur at depths of 3,000 to 4,800 feet in the project area.

Potash was first discovered in the Paradox basin in an oil and gas well in 1924. In 1962, Superior Oil Co. drilled the first potash at the crest of the Lisbon Valley anticline. Since 1964, potash and byproduct salt have been produced from the Cane Creek mine. The Cane Creek mine was first owned and operated by Texas Gulf Sulphur and is now owned and operated by Intrepid Potash Co. Potash was originally produced by underground mining, and, in 1970, the mine was converted to solution mining. Solution mining has proven to be the ideal process in the project area because of the hot summers and low humidity. The mine has produced nearly continuously since 1964 and reportedly has a future mine life of 30 years.