how long, page-3

Thanks, ourmaninoz, for posting thenews of the BHP purchase of API in Canada.

The interesting thing to me is the value placed on the deal - C$341Mil. A similar sized project, at a similar stage is the Potash One mine also planned in Saskatchewan. In PFS at the moment, and valued on the TSX at over C$200Mill.

Meanwhile, the TRH project in Utah, also entering PFS, with very similar prospects, and possibly even better location (closer to big market in US, and better climate for evaporation), is valued on the ASX at about $15Mil currently - only one twentieth.

Why does the Oz market rate Transits value so much below the Canadians value those projects on their market?

Is it something to do with the name? Would the sp be better if it was Transit Potash, or something similar? When the focus of Transit was on the Iron Ore, there was an intention to change the company name to one involving mining - that was stymied when an enterprising individual registered the planned name as a domain name (presumeably hoping to score a few dollars by selling it to the company).

Or is it something to do with the fact that the project is not in Aussie?

Or is it that early stage projects are valued less in Aus just because of the huge number at a similar stage in a country with a relatively smaller number of investors?

There has been a reasonable amount of publicity (e.g Bromby) over recent times, so I don't think thats an issue.

While the potash is not proved to JORC standard yet, this is pretty much a formality - the Paradox Basin Potash is a matter of public record, there have been several oil exploration holes that have logged the thickness and depth of the potash at various points, and the Intrepid mine is just 15km up the road. The resource is immense - the scoping study is based on a 50yr+ mine, and is only using one small part of one of several beds in the basin.

The drilling for the PFS will be more of a matter of finding the very best spot to place the plant. (and to satisfy the requirements for a JORC resource).

The low market cap must be of some concern to the company and shareholders - it is in our interests that the holes be drilled asap and the PFS completed so that a genuine value (A$200+) can be applied.

Thats about $4 to $5 a share

So very happy to hear that Richard Monti is planning to be in Utah soon to move along the permitting and drilling of those six holes.

Whether Transit goes all the way, or one of the big boys takes hold of it, the middle of this year should see a very different rating to this very undervalued enterprise.

Don't give away your shares in the meantime.