So i read an article about another potash play, Highfield Resources, ASX: HFR, see link to article at the bottom,
They have just had their maiden JORC complaint resource estimate, a decent 163 Mt of Sylvinite at 10.9% K2O(17.3%KCl), at their Javier Potash Project in Spain. Covering just over 34% of their tenements.
Also have an exploration target of "250Mt and 400Mt of sylvinite ranging in grade between 9% and 12% K2O."
HFR's Current Market Cap is just over $50Mil. appear to have $6mil in cash,
Compared to POK, maiden JORC complaint resource estimate of 902 Mt at 15.9% K2O(20.3% KCl)(with a high grade sections of 303 Mt at 15.4% K2O(24.4% KCl) & 104 Mt at 18.9% K2O(30% KCl)), all this covering just 20% of their tenements.
With an estimated "exploration target to be 3.4 to 5.2 billion tonnes of sylvinite at an average grade of 23% to 34% KCl".
POK's Current Market Cap is $9Mil. Should have around $2mil in cash(I think).
It's frustrating that we are hog tied by the fact we have no positive news on the horizon and not enough money to drill any holes and create some, so we are bent over the proverbial barrel. Obviously hindsight is a beautiful thing, but why didn't we raise enough money to drill at least one(maybe a couple) of the federal holes to continue to de-risk the project and build value, while we waited for a major to make a play.
Although no doubt i would have been annoyed selling off any of the project at 40cps if it continued up past $1.
