DAILY NEWS Feb 4, 2013 4:26 PM - 0 comments

POTASH: Positive PFS for Muskowekwan declared by Encanto

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SASKATCHEWAN – The pre-feasibility study is positive for the Muskowekwan potash solution mine in the southern part of the province, Encanto Potash Corp. of Vancouver says. The PFS confirms that project economics are acceptable and that the deposit can be mined for at least 50 years. Annual production will be 2.8 million t/y of muriate of potash.

The PFS indicates that the initial capital expenditure for development will be $2.86 billion. The figure includes estimates for water supply, gas pipeline, an cogeneration plant, and a contingency of 460 million. Construction could start as early as Q2 2014 for production in Q1 2017.

The Muskowekwan project includes reserves in both the Patience Lake and Belle Plaine members. The proven total is 38.13 million tonnes, and the probable portion is 148.65 million tonnes.

Details of the project, including agreements with local First Nations, are available at EncantoPotash.com.

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