Shame they didn't mention the 2.3bn tonnes of potash.
Text from the post above is below (if that makes sense).
TRANSIT Holdings surged today on news of a win in its US operations. Shares in Transit Holdings continued their spectacular run after the company announced it has won the right to put drilling rigs on the ground at its potential potash project in the US.
Transit shares jumped as much as 17.5c today to an intraday high of 90c on news the company has successfully negotiated a ?right of way? permit through US Federal Government land, allowing the company to put rigs on the ground at its potash project in Utah.
Shares in the company have now more than doubled since it abandoned the purchase of a coal project in Columbia in late March, and said it would focus on the potash project instead.
When Transit flagged an imminent breakthrough in negotiations over the access permit last week, its shares jumped 66 per cent to 80.5c in a day, earning the company a ?speeding ticket? from the Australian Securities Exchange.
Start of sidebar. Skip to end of sidebar. Related CoverageSpike: South Boulder surges on raising, drilling .End of sidebar. Return to start of sidebar. .Transit is yet to define the size of the mineral resource at the Paradox Basin project, but says earlier drilling - mostly by oil companies ? indentified a number of high grade areas of potash deposits.
Transit?s Potash operations were headed by Riversdale Mining founder Hugh Callaghan, but he will now leave the company at the end of the financial year, to replaced by US-based executive Ben Binninger.
The company also announced today that former Rio Tinto executive Sean Murray will join its board as a non-executive director.
Shares in Transit Holdings were trading at 89c at 1409 AWST.
EB
TRH Price at posting:
87.5¢ Sentiment: ST Buy Disclosure: Held
