"I may be misunderstanding this but there seems to be an...

"I may be misunderstanding this but there seems to be an acceptance drilling will be approved on Federal land. Isn't that being a bit presumptuous?"

Thats correct AJAX - But you gotta admit that at a market cap. under $40 million there is a lot of failure built in and not a lot of upside.

It's a far more compelling buy at 50c than $1 imo.

To sell at 50c one has to convince them selves that:

a) Agapito Consultants have no-clue regarding potash resource estimates.
b) All the historical drill results were re-occuring anomolies (LoL - Oxymoron).
c) The M.O.U. has absolutely no commercial meaning or relevance
d) Intrepid (10km down the road) found a fluke commercial resource and then paid massive kickbacks to the BLM to get their exploration and mining approval.

The bears have a hard sell, aside from "Technicals look grim" - Which I agree is a pretty significant issue in the short term.