That AFR "Street Talk" article from the AFR (p.20) this...

That AFR "Street Talk" article from the AFR (p.20) this morning:


SOMETHING BIG IN POTASH FOR FORTIS

In what could be a company-maker for Fortis Mining, the Melbourne-based group is poised to announce a deal that will deliver it a "world-class" potash deposit in Kazakhstan.

A drip-feed of announcements from Fortis in recent weeks has whipped some corners of the market into a frenzy. What has been pieced together so far is that Fortis has a deal over a big potash deposit in the central Asian nation and there's plenty of speculation about just how big the deposit could be.

Some have linked Fortis to the 7 billion tonne potash deposit held by private company Satimola. Hong Kong-based Madam Cheung promised to introduce Fortis to a major project when her fund took a major stake in it last year. Satimola is chaired by former Fortescue Metals and Ivanhoe Mines chairman Gordon Toll, who has strong links to Hong Kong.

Regardless of whether Fortis is linked with Satimola, there seems to be plenty of upside if it can get its foot on a big potash deposit.

Shares in South Boulder Mines have rocketed in recent months following the discovery of what it says is a the world's shallowest potash deposit in Eritrea. South Boulder is now worth more than $350 million. Fortis is capitalised at $28 million.

There have been plenty ready to punt on Fortis, listed in December at 20c a share. It put on almost 65 per cent in two days before trading was halted last Wednesday at $1.24.