UPDATE: Potash Ridge Reports Q1 2013 Results, Blawn Mountain Project Update; Shares Fall 12.5% Late Morning

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Potash Ridge Corporation (PRK.TO) today released its first quarter results and provided an update on its flagship 100%-owned Blawn Mountain Project.

Shares are now down 7 cents (12.28%) to 50 cents late morning.

Q1 2013 Financial Results

- The Corporation reported a net loss for the first quarter of $1.0 million ($0.01 per share) compared with a net loss of $0.8 million ($0.01 per share) for the first quarter of 2012.

- A total of $3.6 million was incurred on project activities during Q1 compared with $2.5 million on project activities for the first quarter of 2012.

- The Corporation closed the first quarter of 2013 with cash and short-term investments of $18.6 million.

Blawn Project

The various aspects of developing the Project remain on track.

- Completion of the prefeasibility study is still anticipated for the end Q2 2013.

- Pilot plant scale testing is planned to start by mid-May.

- A number of permitting milestones are expected throughout 2013.



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.

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