News: View shares jump 50% on new agreement

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Shares in View Resources Limited (ASX:VRE) jumped up to 50 per cent this morning after the multi-commodity mining company unveiled an African potash opportunity.

View told the Australian Securities Exchange today that it has entered into a farm-in agreement for the opportunity to farm into a potash project in West Africa’s Congolese Basin.  

View has now started due diligence on the project and paid a $200,000 deposit, which is fully refundable should the company not be satisfied with the due diligence results.

The complete results are expected in 45 days and View says it will continue to keep the market fully informed during the due diligence process.

View Resources reported a net profit in the last half of 2010.