Why would the good DR recommend this Potash stock after he has recommended ELM and STB after drill results?
1) Even in these dark economic times, TRH has enough cash to define a resource and prove to the market that they have a bankable strategy
2) Management .... previous positions with Rio Tinto
3) Exploration Risk (Reference TRH US Presentation ASX Announcement 2011)
Data base with 8 borehole logs demonstrating high grade sylvinite on lease - 24 logs for surrounding area - 2 D Seismic confirm and correlates to drill logs - One cored and assayed well in project area used to confirm
-Focus principally on 2 sylvinite potash beds, 18 Upper and Lower -Hatch Point Plateau 75% of reserves targeted for exploration - Targets also based on Gamma and Neutron logs
Refer to www.spec2000.net/freepubs/Potash1966orig.pdf to see how Gamma and Neutron logs are used to estimate Potash
Additionally, 1 Oil/Gas well drilled on TRH ground in 2009 (ThreeMile 43-18H) and 3 Stone Energy Holes drilled 2010/2011
4) Potential Annual Revenue
Potential Annual Revenue as per the Scoping study is $0.9 billion PA with Potash Prices @ $450PT. There is also a quote in the highgrade article about this.
5) Proximity to Producer
10Km from Intrepid producing mine
6) Holding in RAD
Who knows, RAD might find economic Iron Ore? They are currently drilling.
TRH Price at posting:
$1.02 Sentiment: None Disclosure: Held
