IC Potash - Volumen wächst!
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Was haltet ihr von der Aktie?
Change: 0.050 (10.64%)
Volume: 1,006,800
http://tmx.quotemedia.com/quote.php?qm_symbol=ICP
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http://www.rohstoff-welt.de/news/artikel.php?sid=22228
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Charttechnisch steht ein Doppelausbruch kurz bevor und zwar der Widerstand bei 0,95 CAD(der höchste Schlußkurs der letzten 18 Monate) sowie der Durchbruch durch die 1 CAD Marke.
Hier sollte es schnell weiter Richtung Norden gehen.
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Dec. 15, 2010 (PR Newswire) --
TORONTO, Dec. 15 /PRNewswire/ - IC Potash Corp. ("ICP" or the "Company") (TSXV: ICP) today announced that the Ochoa Polyhalite Mineral Resource has substantially increased. The National Instrument 43-101 compliant total resource now includes 700 million tons of measured and indicated potash (as polyhalite which contains sulphate of potash) at an average grade of 82 % and a five foot minimum thickness. IC Potash intends to become a primary producer of Sulphate of Potash (known as "SOP" or "K2SO4") by mining its 100%-owned Ochoa property in New Mexico.
There are now 700 million tons of potash resource in the measured and indicated resource category. The detailed polyhalite resource is provided in the table below.
5 foot minimum thickness Measured Indicated Measured and Indicated
Tons 239,000,000 461,000, 000 700,000,000
Grade Polyhalite 82.7% 82.4% 82.5%
Equivalent Grade K2SO4 23.4% 23.4% 23.4%
6 foot minimum thickness Measured Indicated Measured and Indicated
Tons 41,000,000 47,000,000 88,000,000
Grade Polyhalite 86.1% 84.1% 85.0%
Equivalent Grade K2SO4 24.4% 23.8% 24.1%
"We are very encouraged by the results of our drilling program that resulted in a very substantial increase in the size and quality of our resource. We are making accelerating progress towards becoming a significant producer of Sulphate of Potash," said Sidney Himmel, President and Chief Executive Officer of IC Potash. "SOP is the world's highest quality potash and it sells at a 50 % premium to the price of regular potash."
The resource estimate was completed by Dr. Patrick Okita of Upstream Resources, and independently verified by Gustavson Associates, LLC. The resource estimate is based on 789 wire-line geophysical logs and 13 drill cores drilled by the Company during its two recent programs. The geophysical logs are from prior petroleum industry rotary drilling and were correlated in detail to the core holes drilled by IC Potash.
Resource calculations were made using a grid file for polyhalite thickness. Resources were assigned to three categories of confidence based on a radius from the ICP core hole. The radii of influence for categorization were: for measured resource, 0.75 miles; for indicated resource, 1.50 miles; and all other mineralization lying within ICP's lease holdings was considered inferred. These dimensions are considered reasonable based on the large number of well control points, excellent definition of the sub-basin, characterization of the host and mineralized units as continuous and unaffected by any disruptions such as faulting or pinching, low variability in polyhalite bed thickness, and homogeneity of mineral assemblage and grade. Thickness was estimated using a least squares algorithm, and the polyhalite grade was estimated using an inverse distance to the 1.5 power algorithm. Bulk density of the ore bed was determined from petro-physical logs and ranges between 2.70 and 2.85 g/cc. The "in situ" polyhalite density used in the evaluation was 2.78 gram/cubic centimeter.
The NI-43-101 Technical Report for the resource will be published on the System for Electronic Document Analysis and Retrieval ("SEDAR") no later than January 28, 2011. SEDAR is the mandatory document filing and retrieval system for Canadian public companies. SEDAR is operated by the Canadian Securities Administrators, a coordinating body comprising the 13 Canadian provincial and territorial securities commissions.
All scientific and technical disclosures in this press release have been prepared under the supervision of William J Crowl, a consultant to IC Potash who is a Qualified Person within the meaning of National Instrument 43-101.
About IC Potash Corp.
IC Potash intends to become a primary producer of Sulphate of Potash ("SOP") by mining its 100%-owned Polyhalite Ochoa property in New Mexico. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of Muriate of Potash ("MOP"), the most widely used fertilizer in the world. Typically SOP sells at a premium of 50% to MOP. ICP is focused on being the lowest cost producer of SOP in the world. The SOP market is six million tonnes per year and is a significant fertilizer in the fruit, vegetable, tobacco, potato, and horticultural industries, and for agriculture in saline and dry soils and soils. SOP is also applicable in soils where there is substantial agriculture activity with varieties of crops. ICP's Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE IC Potash Corp.
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Dec. 21, 2010 (Canada NewsWire Group) --
TORONTO, Dec. 21 /CNW/ - IC Potash Corp. ("ICP" or the "Company") (TSXV: ICP) is pleased to announce that the Company will begin its potash bulk sampling program on January 15, 2011. The program will provide a bulk sample of potash from its Ochoa Project which is located in south east New Mexico. The bulk sample will be used for pilot test programs to optimize processes to convert the resource into Sulphate of Potash ("SOP"). The sample will also be used to confirm results identified in previously published tests and to further demonstrate the robust commerciality of our Ochoa Project.
Pilot testing will be performed by independent research group, Hazen Research, Inc. of Golden, Colorado ("Hazen"). Hazen's services will include work on the adaptation of the known technologies, followed by pilot scale testing. Over the past 50 years, Hazen has completed projects over a wide range of thermal processing applications, minerals beneficiation, leaching, and precipitation.
Randy Foote, Chief Operating Officer, stated: "We are very pleased with the designs for the bulk sample drill program which will provide sufficient ore for the testing and optimization of all processing steps. The recommended leaching processes have been pilot tested twice. The United States Bureau of Mines carried out the first pilot test during the 1930's. hen, during the 1950's, a private industry potash producer further pilot tested the entire process. We will first verify those pilot tests and then continue to optimize our processes. The planned SOP production process will include solar evaporation. Solar evaporation processes are currently in use by those producers who generate Sulphate of Potash from salt lake brines."
Sidney Himmel, President and Chief Executive Officer, stated: "I am very pleased with the results produced by our outstanding team of potash geologists and chemical engineers. These industry leading professionals will ensure that all testing and optimization will be performed on an efficient and effective basis. The bulk sampling program is a critical step moving IC Potash forward towards production."
Potash Industry
There is a high demand for SOP by producers of fruits, vegetables, horticultural crops, and tobacco. IC Potash Corp. has direct access to potassium and sulfate, as these nutrients are contained in the company's polyhalite mineral resource. Sulphate of Potash is the world's premium quality potash and sells at a premium price compared to regular potash known as Muriate of Potash. While the price of Muriate of Potash is now between $375 and $400 per long ton, the price of granular Sulphate of P`otash ranges from $550 to $600. Thus fertilizer production companies, such as IC Potash Corp., benefit from the price differential. The SOP price advantage has ranged from 40% to 100% over the last forty years.
All scientific and technical disclosures in this press release have been prepared under the supervision of William J Crowl, a consultant to IC Potash who is a Qualified Person within the meaning of National Instrument 43-101.
IC Potash
IC Potash intends to become a primary producer of Sulphate of Potash ("SOP") by mining its 100%-owned Ochoa property in New Mexico. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of Muriate of Potash ("MOP"), the most widely used fertilizer in the world. ICP's Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
please visitwww.icpotash.comor contact: Sidney Himmel, 1-575-993-2758
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Jan. 5, 2011 (Canada NewsWire Group) --
TORONTO, Jan. 5 /CNW/ - IC Potash Corp. ("ICP" or the "Company") (TSXV: ICP) announced today the successful conclusion of the updated Preliminary Economic Assessment of the Company's 100%-owned Ochoa Sulphate of Potash ("SOP") Project (the "Preliminary Economic Assessment" or "PEA") located in south east New Mexico, and prepared by Gustavson Associates of Lakewood, Colorado ("Gustavson").
"This independent report is a major achievement for IC Potash," Mr. Sidney Himmel stated. "The updated PEA attributes an estimated net present value to the Ochoa Project of US$1.4 Billion using a pre-tax discount rate of 10%, and $2.1 billion using a rate of 8%. The projected values are based on the estimated capital cost of $662 million and projected production cost of $164 per ton of SOP. The PEA provides robust economics for the Ochoa Project with operations producing 660,000 tons of SOP per year. Our mission is to develop a long-life, low cost mine, which will produce Sulphate of Potash, the premium quality potash of the world, and the PEA indicates that the Company's New Mexico Ochoa potash asset is positioned to become one of the world's lowest cost producers of Sulphate of Potash."
Recommendations and Conclusions
This Preliminary Economic Assessment indicates that the Ochoa Sulphate of Potash project is economically viable and Gustavon recommends continued development of the project including:
* The completion of a prefeasibility study;
* The commencement of environmental and permitting work; and
* The obtaining of a sufficient bulk sample of ore for pilot scale metallurgical testing and process optimization.
Dr. George Poling, Chairman of the Board of Directors of IC Potash Corp., stated: "My compliments to our world class team for the timely execution of this critical milestone. We are now well financed to carry out all recommended work, and prepared to evaluate strategic development opportunities moving forward with the Ochoa Project, including the possibility of establishing marketing partnerships with international fertilizer companies."
Economic Analysis
The National Instrument 43-101 Compliant Preliminary Economic Assessment projects a base case production level of 660,000 tons per year of Sulphate Potash ("SOP"), a mine life of 40 years with a capital cost of $662 million, and operating cost per ton of $164. All dollars are expressed in United States currency. The base case production level data is summarized as follows:
* Internal rate of Return of 25% on a pre-tax basis based on a 100% equity case;
* Net Present Value of US $1.4 billion using a pre-tax discount rate of 10% and no debt;
* Net Present Value of US$2.1 billion using a pre-tax discount rate of 8% and no debt;
* Operating production cost of US$164 per ton of SOP;
* Capital cost of $662 million which includes a general contingency of $97 million and engineering and procurement and management costs of $48 million;
* Underground mining at a rate sufficient to produce 3.29 million tons of ore per year;
* Average mining extraction rate of 85%;
* Average metallurgical recovery of 85%
* Mine life of 40 years;
* The Sulphate of Potash sales price forecasts were provided by CRU, formerly known as British Sulphur Consultants. CRU is the leading business consultancy for the fertilizer industries;
* SOP prices for 2015 were forecast at $508 per short ton and subsequently varied for projected macroeconomic trends and anticipated changes in Sulphate of Potash supply and demand;
* While the project has the potential to produce Sulphate of Potash and other fertilizer minerals such as Magnesium Sulphate, the study included only Sulphate of Potash as this fertilizer mineral is readily marketable in a very robust market.
Economic Impact of Resource Expansion
As provided in the press release of December 15, 2010, there is now 700 million tons of potash resource in the measured and indicated resource category. The detailed potash resource is provided in the table below. In addition, there is a further resource of 300 million tons of potash in the inferred resource category.
5 foot minimum thickness Measured Indicated Measured and Indicated
Tons239,000,000§462,000, 000 700,000,000
Grade Polyhalite 82.7% 82.4% 82.5%
Equivalent Grade K2SO4 23.4% 23.4% 23.4%
6 foot minimum thickness Measured Indicated Measured and Indicated
Tons41,000,00047,000,00088,000,000
§
Grade Polyhalite 86.1% 84.1% 85.0%
Equivalent Grade K2SO4 24.4% 23.8% 24.1%
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The objective of the upcoming pre-feasibility study is to demonstrated economic viability.
Base Case of 660,000 tons per year production, operating costs:
Area of Operations Cost Per Ton Of
Feedstock
(US$)§Cost Per ton of SOP
Product
(US$)
Mining $12.36$61.39
§
Processing $19.76$98.11
§
G&A§$ 0.95 $ 4.72
Total $33.07$164.22
§
Chief Operating Officer Randy Foote commented, "We recently reported a NI-43-101 compliant mineral resource which included, at a five foot minimum thickness cut-off, 239 million tons of measured resource of polyhalite, and 462 million tons of indicated resource. It is this resource which we intend to convert to Sulphate of Potash at a very low cost of production. Thus this project has the potential to have a life far in excess of the forty year mine life which was used in the financial economic model. The Company is intent on moving quickly to develop this project."
The Preliminary Economic Assessment also considered a production scenario of 1,000,000 tons of annual Sulphate of Potash production. The capital cost for such a production level would be $813 million. Assuming a 40 year mine life and the same projected SOP prices as for the base case, the Internal Rate of Return would be 30% and the Net Present Value would be $2.5 billion using a pre-tax discount rate of 10% and US$3.6 billion using a pre-tax discount rate of 8%.
The NI-43-101 Technical Report for Preliminary Economic Assessment and the resource will be published on the System for Electronic Document Analysis and Retrieval ("SEDAR") no later than January 28, 2011. SEDAR is the mandatory document filing and retrieval system for Canadian public companies. SEDAR is operated by the Canadian Securities Administrators, a coordinating body comprising the 13 Canadian provincial and territorial securities commissions.
Qualified Persons Report
All scientific and technical disclosures in this press release have been prepared under the supervision of William J Crowl, a consultant to IC Potash who is a Qualified Person within the meaning of National Instrument 43-101.
The Qualified Persons in respect of the Preliminary Economic Assessment were William J. Crowl, R.G., Donald E. Hulse, P.E., Terre A. Lane, MAusIMM, Deepak Malhotra, MAusIMM. Consulting geologists, chemical engineers, and chemists in respect of the work included Dr. Patrick Okita, Donial Felton, B.Sc., Richard Chastain, B.Sc., and Thomas Neuman, M.Sc.
About IC Potash Corp.
IC Potash intends to become a primary producer of Sulphate of Potash ("SOP") by mining its 100%-owned Polyhalite Ochoa property in New Mexico. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of Muriate of Potash ("MOP"), the most widely used fertilizer in the world. Typically SOP sells at a premium of 50% to MOP. ICP is focused on being the lowest cost producer of SOP in the world. The SOP market is six million tonnes per year and is a significant fertilizer in the fruit, vegetable, tobacco, potato, and horticultural industries, and for agriculture in saline and dry soils. SOP is also applicable in soils where there is substantial agriculture activity with varieties of crops. ICP's Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
please visit www.icpotash.com
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Jan. 17, 2011 (Canada NewsWire Group) --
TORONTO, Jan. 17 /CNW/ - IC Potash Corp. ("IC Potash" or the "Company") (TSXV: ICP; OTCQX:ICPTF) is filing today on SEDAR (www.sedar.com) a Canadian National Instrument 43-101 compliant Preliminary Economic Assessment Technical Report of the Company's 100 % - owned Ochoa Sulphate of Potash ("SOP") Project (the "Preliminary Economic Assessment" or "PEA"). The project is located in south east New Mexico. The PEA report, entitled NI 43-101 Technical Report on the Polyhalite Resources and Updated Preliminary Economic Assessment of the Ochoa Project was prepared by Gustavson Associates of Lakewood, Colorado ("Gustavson").
Other corporate update information:
* Bulk sampling program commenced;
* Pre-feasibility study to commence imminently;
* Environmental work to commence in first quarter; and
* Stock options awarded.
The bulk sampling program has commenced. Metallurgical testing and optimization will commence this January using the potash resource previously obtained. Testing will include the optimization of calcination, leaching, solar evaporation and crystallization procedures. Testing will be carried out by Hazen Research, Inc. of Golden Colorado. Hazen has completed over 10,000 projects for clients, including pilot and demonstration plants and has expertise in industrial minerals processing, as well as in mineral hydrometallurgy, pyrometallurgy, inorganic chemicals, and commercial metals.
"The completion of the report, which was announced on January 5 of this year, is a major achievement for IC Potash," Mr. Sidney Himmel, the President and Chief Executive Officer of the Company, stated. "We are finalizing the assembly of the team to prepare the Pre-Feasibility Study. It is estimated that this study will require nine months to complete at an estimated cost of $3 million. Our mission is to develop a long-life, low cost mine to produce SOP, the premium quality potash of the world. We continue to move rapidly in that direction. The recommendations of the PEA include the completion of a pre-feasibility study, the commencement of environmental permitting work, and the obtaining of a sufficient bulk sample for metallurgical testing and process optimization. We are moving rapidly in all these directions with the goal of being one of the first junior companies to put a potash mine into production. And in this case it is based on SOP, the world's quality potash which is sold at a premium price".
As previously reported, the PEA projects a base case production level of 660,000 tons per year of SOP, a mine life of 40 years and a capital cost of $662 million. Operating cost is projected to be $164 per ton. All dollars are in United States currency. Summary data for the project are:
* Internal rate of Return of 25% on a pre-tax basis based on a 100% equity case;
* Net Present Value of US $1.4 billion using a pre-tax discount rate of 10% and no debt;
* Net Present Value of US$2.1 billion using a pre-tax discount rate of 8% and no debt;
* Operating production cost of US$164 per ton of SOP;
* Capital cost of $662 million which includes a general contingency of $97 million and engineering and procurement and management costs of $48 million;
* Measured mineral resource of 239,000,000 tons at a grade of 82.7% polyhalite equivalent to 23.4% Sulphate of Potash, and indicated resource of 461,000,000 tons at a grade of 82.4% polyhalite equivalent to 23.4 % Sulphate of Potash, each of which with a cut-off thickness of 5 feet.
* Underground mining at a rate sufficient to produce 3.29 million tons of ore per year;
* Average mining extraction rate of 85%;
* Average metallurgical recovery of 85%
* Mine life of 40 years;
* The SOP sales price forecasts were provided by CRU, formerly known as British Sulphur Consultants. SOP prices for 2015 were forecast at $508 per short ton and subsequently varied upwards and downwards for projected macroeconomic trends and anticipated changes in SOP supply and demand. For 2025 and thereafter a price of $717 per short ton is used in the projections.
* While the project has the potential to produce SOP and other fertilizer minerals such as Magnesium Sulphate, the study included only SOP as this fertilizer mineral is readily marketable in a very robust market.
The PEA contains information on resource, proposed mining methods, mineral processing, hydrology, and entry into the Sulphate of Potash markets.
All scientific and technical disclosures in this press release have been prepared under the supervision of William J. Crowl, a consultant to IC Potash who is a Qualified Person within the meaning of National Instrument 43-101. The Qualified Persons in respect of the Preliminary Economic Assessment were William J. Crowl, R.G., Donald E. Hulse, P.E., Terre A. Lane, MAusIMM, Deepak Malhotra, MAusIMM.
The PEA is preliminary in nature. Although the PEA includes measured and indicated mineral resources, it also includes inferred mineral resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the projections in the PEA will be realized.
Awarding of Stock Options:
The Company granted on January 13, 2011, at a board meeting held after close of business, 700,000 options to acquire common shares of the Company (the "Options") pursuant to the stock option plan of the Company and subject to regulatory approval. The Options were granted to an officer and to a consultant to the Company. The Options expire on January 13, 2016 and have an exercise price of $1.42, the closing price of the stock on the TSXV prior to the grant.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
About IC Potash
IC Potash intends to become a primary producer of Sulphate of Potash ("SOP") by mining its 100%-owned potash Ochoa property in New Mexico. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of Muriate of Potash ("MOP"), the most widely used fertilizer in the world. Typically SOP sells at a premium of 50% to MOP. ICP is focused on being the lowest cost producer of SOP in the world. The SOP market is six million tonnes per year. SOP is a significant fertilizer in the fruit, vegetable, tobacco, potato, and horticultural industries, and for agriculture in saline and dry soils and soils in which there is much agriculture with varieties of crops. Much of the agricultural soil in China, India, and the United States is salty. ICP's Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases.
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Feb. 2, 2011 (Canada NewsWire Group) --
TORONTO, Feb. 2 /CNW/ - IC Potash Corp. ("ICP" or the "Company") (TSXV: ICP; OTCQX: ICPTF) is pleased to announce the commencement of the Ochoa Project Sulphate of Potash ("SOP") Pre-feasibility Study. Through this study and concurrent environmental work, the Company will establish the engineering basisfor the Ochoa Project for mining, processing, and SOP marketing.
This announcement complements recent operating progress including two successful drill programs, the establishment of substantial measured and indicated resources, and the completion of the Preliminary Economic Assessment, which indicated that the project has a projected Net Present Value of $1.4 billion with a discount rate of 10% and production level of 660,000 short tons.
Mr. Sidney Himmel, President and Chief Executive Officer of IC Potash stated: "I am very pleased with the operational progress made to date. We are on plan with our primary strategic goal to be in production for 2014. To achieve that, we have assembled an excellent team of accomplished professionals to complete this study and will now move quickly to establish the economic engineering parameters for the Project."
Pre-Feasibility Team:
* Lead Engineering Firm and Project Manager: The lead engineering firm will be Gustavson Associates, LLC. of Colorado ("Gustavson"). Gustavson will provide the mining and processing plans, and initial detailed engineering. Gustavson is a global consulting firm consisting of mining engineers, geologists, economists and geophysicists.
* Mineral Processing: Process optimization and confirmation will be carried out by a team of highly experienced potash processing chemical engineers. This highly experienced team has worked with numerous global corporations as consultants and represents some of the leading authorities on the processing of potassium salts. Collectively, the team has over 100 years of experience directly related potash salt processing.
* Pilot Testing: Hazen Research, Inc. ("Hazen") of Golden, Colorado, will perform bench scale and pilot process testing, including the evaluation of prior work carried out by the Bureau of Mines, and prior corporate pilot plant testing of polyhalite to SOP processing. The objectives will include the optimization of SOP recovery, including the minimization of water usage and required acreage for solar evaporation. Hazen's professional staff includes over 150 highly trained professionals in the fields of chemical and metallurgical engineering. Hazen has internationally recognized expertise in pilot plants, minerals beneficiation, physical separations, thermal processing, and hydrometallurgy.
* Hydrology and Environmental Work: The hydrology work will be managed by Intera Geosciences and Engineering ("Intera") of New Mexico. Intera is highly experienced in water resource management related to water supply, quality, rights, transfers, and management. Intera has expertise in the south-western United States with clients including industry and state, federal, and municipal agencies, and has expertise in providing models of hydrologic system conditions.
* Processing Equipment Design and Selection: This work will be carried out by FLSmidth, a leading supplier of equipment and services to the global minerals industry, employing more than 10,000 people world-wide. Product expertise includes ore feeding, sizing, crushing, and milling, automation and control systems including mix optimization, conveyor engineering, and expertise in emissions and water systems.
* Rock Mechanics: This work will be carried out by Advanced Terra Testing of Colorado ("ATT"). ATT has expertise in the provision of physical test data for mining engineering projects word wide, including rock mechanics and geosynthetics.
* SOP Marketing and Pricing: This work will be carried out by CRU. CRU, formerly known as British Sulphur Consultants, is the leading business consultancy and publisher for the fertilizer and chemical industries. The company forecasts fertilizer markets internationally. CRU has established a worldwide reputation in minerals and chemicals consulting over a period of 50 years.
Randy Foote, Chief Operating Officer of the Company stated: "With the team of engineering, hydrological, processing, and marketing professionals in place, I am fully confident that we are on the right path towards the development of a major Sulphate of Potash production facility. We believe that this study should be completed within approximately 9 months. I am very excited to be managing the engineering planning and design with this team of professionals, with many of whom I have worked with in the past in potash production."
All scientific and technical disclosures in this press release have been prepared under the supervision of William J Crowl, a consultant to IC Potash who is a Qualified Person within the meaning of National Instrument 43-101.
About IC Potash Corp.
IC Potash intends to become a primary producer of Sulphate of Potash ("SOP") by mining its 100%-owned Polyhalite Ochoa property in New Mexico. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of Muriate of Potash ("MOP"), the most widely used fertilizer in the world. Typically SOP sells at a premium of over 40% to MOP. ICP is focused on being the lowest cost producer of SOP in the world. The SOP market is approximately six million tonnes per year and SOP is a significant fertilizer in the fruit, vegetable, tobacco, potato, and horticultural industries, and for agriculture in saline and dry soils and soils in which there is much agriculture with varieties of crops, such as for example in China, India, the Mediterranean, and the United States. ICP's Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
