From Red Metal's (RDM)'s quarterly activities report (shows that Transit Holdings is seen as one of the main potash players):-
"FERTILIZER MINERALS Colorado Potash Project Red Metal has prospecting permit applications covering 166 square kilometres situated over multiple potash horizons in the Paradox Basin, Colorado, USA (Figure 15). The Colorado project is located in the same sedimentary basin as Transit Holdings Limited?s Utah potash project 90 kilometres to the northwest and shares many of the potential mining characteristics. Transit Holdings as well as other Australian-listed companies with international potash exploration projects including South Boulder Mines Ltd in Eritrea, Elemental Minerals Limited in the Republic of Congo and Fortis Mining Limited in Kazakhstan have recently received strong positive market support for their projects. In April, Red Metal advanced the Colorado Potash project by executing a memorandum of understanding with the Colorado Bureau of Land Management (BLM) initiating the environmental assessment for prospecting permit authorisation. Dependent upon positive outcomes from this assessment, the BLM anticipate being able to grant the prospecting permits relating to the Phase 1 exploration program toward the end of this year or early 2012."
TRH Price at posting:
71.0¢ Sentiment: Buy Disclosure: Held
