transit stacks up well with its peers, page-6

News starting to spread, good luck for tommorrow.

This off proactiveinvestors Australia THur 14th April:
Potash focused Transit Holdings' (ASX: TRH) share price lead a merry jig today with a 55% share spike to $0.75 in intra-day trading, up from the close of $0.485 yesterday, prompting a ASX price and volume query.

The company said there was no material information that had not been released that would explain the gain.

In a response to the ASX, Transit did state, '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.

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.

Relative to peers, and valuation to resource, Transit Holdings has significant upside potential.

Nb. They got the SP slightly wrong but positive nonetheless.