http://www.*.com.au/companies/news/15571/transit...

http://www.proactiveinvestors.com.au/companies/news/15571/transit-holdings-in-a-trading-halt-pending-potash-approval-announcement-15571.html

Transit Holdings in a trading halt pending potash approval announcement
Monday, April 18, 2011 Transit Holdings (ASX: TRH) has been granted a trading halt by the ASX, pending a potash project approval announcement.

Transit has not yet indicated which potash project the announcement refers to, but last week in response to an ASX price and volume speeding ticket said:

'However, the company refers to the fact that it expects to receive a Right of Way over Federal land to access drill sites in state lease blocks.'

Transit has earned 90% of a JV covering potash rights over 390 square kilometres at the Paradox Basin Project in Utah, U.S.

A Right of Way over Federal Land to access and drill 4 lease blocks - would provide Transit with a progression to define an initial JORC/NI43-101 resource.

The Paradox Basin Project, which is in close proximity to infrastructure because of surrounding gas fields has a massive exploration target of 2.3 billion tonnes sylvinite at 32.8% KCI.

High grade sylvinite is prized among potash explorers which imbues Transit's project with a number of advantages.

Interestingly, 85% of U.S. potash requirements are imported.