Encanto Updates On Off-Take Discussions; Shrs Gained 9% In Heavy Trade Monday

By Midnight Trader,  January 15, 2013, 08:15:37 AM EDT

Encanto Potash Corp. (EPO.V), which gained 9% Monday with more than 1 million shares traded, said it has been advised that India's Rashtriya Chemicals and Fertilizers Ltd. announced on the Indian Government's website a tender process aimed at selecting an advisor to review and advise on an off-take agreement proposal with Encanto for 2M tonnes of potash purchases by a consortium led by RCF. The announced tender process is believed to be part of the Indian government's regulatory requirements to have an independent third party advisor review the proposed off-take agreement.

Although Encanto has had ongoing negotiations with RCF and members of the consortium, no agreement has been reached or executed and there is no assurance an agreement will be reached or executed.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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