Ann: CHANGE IN DIRECTORS INTEREST NOTICE APPENDIX, page-15

re: Ann: CHANGE IN DIRECTORS INTEREST NOTICE ... Hi Crew

I was just wondering if you have read Western Potash's Technical Report (2.61mb) and Scoping Study (1.29mb) .

I would think Western Potash is a similar stock to TRH in regards to grades, depth, scoping study and K60 end product. I do find it very strange that TRH completed its scoping study before Western Potash.

Based on the Technical Report, the recommendations were

"Phase 1
1. Complete a Scoping (Preliminary Assessment) study to estimate in greater detail the permitting, mining, processing, transport, marketing costs and economic basis for project development.
Estimated cost: $360,000.
Total estimated cost for Phase 1: $360,000.

Phase 2
Conditional upon favorable outcomes from Phase 1, continue studies to confirm and expand the resource base and complete a Preliminary Feasibility Study and Environmental
Baseline Study including:

1. Complete geotechnical and solubility testing of core. Estimated cost: $400,000.

2. Complete Prefeasibility Study including cavern layout, permitting, process design, infrastructure, transport and marketing studies. Estimated cost: $6 million.

3. Complete an Environmental Baseline Study and Environmental Impact Statement (EIS).
Estimated cost: $5.5 million.

Total estimated cost for Phase 2: $11.9 million.
Conditional upon a favorable outcome from Phase 2, WPX should proceed to a definitive Feasibility Study. Costs for the Feasibility Study cannot be estimated at this time. "



I was advised that TRH's scoping study cost around $300k. There is a large discrepancy between the market cap of Western Potash and Transit because Western Potash has published a Technical Resource report and Transit has no JORC. It is 9.5 times greater plus WPX has just been rated as a speculative buy.

TRH shareholders should have a read of both reports as they highlight the path that TRH will take in terms of 2d and 3d seismic acquisition and calculation of an inferred resource. It also has a table listing the number of days taken to drill Western Potash's resource.

I have posted Western Potash's scoping study to encourage some comparison and discussion regarding TRH's scoping study.

Transit's Operating Costs are estimated in the Scoping Study (Also Defined in April 2009 Presentation)as;

Operating Costs (US$)
Solution mining $11/tonne
Processing $45/tonne
Transport $88/tonne
Sustaining capital (plant and mining) $39/tonne


What is the expected OPEX for Western Potash's project? Is it the $62.90 /tonne and where is the information regarding rail and transport costs? It appears that WP have allocated a flat rate of $60/tonne for freight costs. Is TRH's OPEX $56/tonne and does the project compare favorably against Western Potash's greenfield project?

Take care guys and good luck in 2011.