Passport Potash Inc. (PPI.V) has received "positive" preliminary economic assessment on its Holbrook Basin potash project.
Joshua Bleak, CEO, said: "We feel that the strong fundamentals of this report validate everything we have believed about this project, and are confident that the strength of this report will allow us to gain traction, even in the face of a moribund resource market. The CAPEX of US$1.95 billion for a 2.5 MTPA mine makes this one of the best values in the potash industry."
PPI was down 8% to $0.235, hitting day lows.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
