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Passport Potash Seeks Approval for Mineral Leases in Arizona; Shares Up 3% But Near 52-Week Lows

Passport Potash Inc. (PPI.V) has submitted its application to the Arizona State Land Department to convert its mineral exploration permits to mineral leases. Concurrent with its application, the company has also submitted its Mineral Development Report.

The report is required by the Arizona State Land Department for all mining operations on Arizona State Trust lands, and is a detailed report covering geologic assessment, economic feasibility, environmental assessment, mine operations plan, and reclamation and closure plans.

PPI was up about 3% to 19 cents, slightly above 52-week low $0.155.

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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.

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