WINNIPEG -- Chinese fertilizer importers agreed to pay more than triple what they did a year ago to get hold of tight supplies of potash, sending the shares of global fertilizer makers to record levels.
China, the world's biggest import market for the nutrient, which is used to boost crop yields, will pay $US650 to $US670 a tonne for product delivered to its ports, analysts estimated.
This makes STB's 100% owned project all the more interesting.
Update on Potash Project at Lake Disappointment East South Boulder Mines is pleased to announce that it has commenced a review of the potash potential at its 100% owned Lake Disappointment East Project. The project comprises a single exploration licence application (E45/3122a) covering approximately 572km² over the same lacustrine system which contains Reward Minerals Ltd’s JORC compliant potash resource of 8,635Mt @ 3.17kg/t for 27.37Mt K2SO4. The licence is immediately east of and adjacent to Reward’s Project area. The prospectivity of this area has been enhanced by recent significant strengthening in fertiliser commodity prices and South Boulder intends to expedite the grant of this licence with a view to commencing on-ground work as quickly as possible.
STB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held