Passport Potash Inc

Published : September 08th, 2011

Dundee Capital maintains "Buy" Rating, Highlights benefits of recent Passport Potash acquisition

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Passport Potash Inc.
(PPI:TSX-V C$0.54)
Fertilizer Watchlist
BUY, Venture Risk*
12-month target price: N/A
August 24, 2011

Richard Kelertas / (514) 396-0320
rkelertas@dundeesecurities.com
Joshua Bridges / (514) 396-0332
jbridges@dundeesecurities.com


Signs LOI for a 50% Increase In Land Holdings - Royalty Free

 

 

 

      PPI Signs LOI to Acquire 41,000 Acre Fitzgerald Ranch

  • Passport Potash has signed a LOI to acquire the Fitzgerald Ranch, directly adjacent to the company's Twin Buttes Ranch (Exhibit 1). The acquisition would net PPI an additional 41,000 acres of contiguous royalty-free private land, bringing the company's total interest in the Holbrook Basin to over 121,000 acres.
     
  • The Fitzgerald Ranch land acquisition would increase the company's freehold land base +137% to 71,000 acres of royalty-free land and sits on the upper- west side of the previously defined potash horizon of the Holbrook Basin (Exhibit 1).
     
  • Other strategic considerations include increased access to key road and rail infrastructure. By acquiring the Fitzgerald Ranch, PPI's property now lines a significant portion of the BNSF railway running just north of the Holbrook Basin and straddles ~13 miles (~21km) of Highway 180.

Impact: Positive - Awaiting NI 43-101 Technical Report
The land acquisition is positive as Passport Potash is the largest landholder and only significant exploration project in the Holbrook Basin. Further exploration work is needed to properly assess the potential for economic potash extraction, but the Fitzgerald Ranch is great addition as it is contiguous, strategically located, and we think can likely be used for surface level facilities as well (closest to railway, highways, small regional airport).

Upcoming Catalysts

  • Results of drill cores currently undergoing analysis. Following the release of Cores 1 & 2, the company has five additional cores at Skyline Laboratories undergoing analysis, results of which we expect to be released shortly or as part of the upcoming technical report. Including the two recently released cores, the company has drilled 19 holes: 4 cores were drilled in 2009; 8 are rotary holes to provide downhole geophysics and gamma ray logging; and the remaining 7 were drilled on the Twin Buttes property in the northern part of Passport's concessions.
     
  • Maiden NI 43-101 resource estimate. We expect the company to release its initial NI 43-101 compliant resource estimate in the next of 4-5 weeks (prepared by SRK) aiming to include the 19 announced drill holes, 35-45 historic drill holes (spread across the Twin Buttes property, the federal/provincial lands in the south, and the Ringbolt property to the east), and the 50 line-miles of 2D seismic surveys conducted by Zonge International,
     
  • Updated NI 43-101 resource estimate. Following the initial technical report, the company aims to then update that resource estimate to include 15 additional exploration holes on the Ringbolt property and an additional 50-mile seismic survey for a total of 34 drill holes and 100 miles of 2D seismic surveys. We expect the company to have an updated 43-101 resource estimate with these new drill holes prepared by year end.
     

Company Description

Passport Potash is an early stage exploration company which owns a 100% interest in a potash project in the Holbrook Basin of Arizona, USA, as well as several mineral properties under option. The company is currently midst of its drilling program to establish an NI 43-101 compliant resources estimate, the technical report of which should be available in June 2011.

     

Dundee Securities Limited has not initiated formal continuing coverage of Fertilizer Watchlist companies. The companies will have recommendations and risk ratings as per our regular rating system, see Explanation of Recommendations and Risk Ratings for details. Risk ratings will be either Speculative or Venture. No price targets will be set for Fertilizer Watchlist companies as there are limited financial metrics upon which to base a reasonable valuation. Dundee clients should consult their investment advisor as to the appropriateness of an investment in the securities mentioned.

- CLICK HERE TO VIEW FULL REPORT -

Copyright � 2011 Passport Potash, Inc., All rights reserved.
You are receiving this email because you requested information and updates regarding Passport Potash.
Our mailing address is:
Passport Potash, Inc.
3266 W. Galveston Dr. #101
Apache Junction, AZ 85120

Add us to your address book


Passport Potash Inc

EXPLORATION STAGE
CODE : PPI.V
ISIN : CA70286C1014
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Passport Potash is a exploration company based in United states of america.

Its main exploration property is HOLBROOK in USA.

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Financings of Passport Potash Inc
1/21/2013Announces Convertible Debenture
Nominations of Passport Potash Inc
6/6/2013Announces Hiring of Chief Operating Officer
2/2/2012Adds Former United States Congressman to the Board of Direct...
1/18/2012Appoints David Salisbury as Director and Chairman of the Boa...
7/19/2011. Announces New Board Appointments
Project news of Passport Potash Inc
10/31/2012(Holbrook)Enters into Agreement to Acquire 100% Interest in its Landh...
8/3/2012Enters Into Joint Exploration Agreement with HNZ Potash LLC
8/1/2012Drill Results For Passport Potash=2C Inc.
4/2/2012Announces New NI 43=2D101 Compliant Mineral Resource
1/19/2012Would Like to Invite You to The Vancouver Resource Investing...
11/30/2011(Holbrook)Retains ERCOSPLAN to Complete Initial Resource Estimate on H...
9/8/2011Dundee Capital maintains "Buy" Rating, Highlights benefits ...
8/24/2011Signs LOI to Acquire 41,000 Acres of Royalty Free Private La...
6/25/2011Weiss Research Analyst Sean Brodrick comments on Passport Po...
6/16/2011Sean Brodrick, Uncommon Wisdom (6/13/11) " Passport Potash a...
6/3/2011World Resource Conference, Booth 214, Vancouver , June 5-6
4/1/2011(Holbrook). to Expand Holbrook Basin Exploration Program
3/29/2011(Holbrook)Enters Option Agreement with Ringbolt Ventures, Ltd. to Acqu...
Corporate news of Passport Potash Inc
11/4/2015Passport Potash Inc. Announces Transfer from TSX.V to NEX, N...
7/9/2015IIROC Trading Halt - PPI
2/27/2015Appointment of Jerry Aiken to Passport Potash Board of Direc...
11/5/2014Passport Potash Abandons NAPD Option and Adopts New Share Op...
6/9/2014Passport Potash Announces Closing of Convertible Debenture F...
4/23/2014Passport Potash Issues Shareholder Letter
4/16/2014Passport Potash Announces a Strategic Investment
10/19/2013.: News Release
8/22/2013Extends Twin Buttes Ranch Option Agreement to January 2016
8/8/2013Weighs in On How Low=2DCost Potash Firms Will Succeed
7/31/2013Issues Statement on Uralkali Announcement
7/30/2013David Salisbury=2C Chairman of Passport Potash=2C talks to B...
7/26/2013in the media
7/19/2013Stockhouse does Q&A with Passport Potash=2C Inc's new Chief ...
7/3/2013Geotechnical Drilling Update
6/19/2013Permitting Update
6/11/2013Applies for Mineral Leases and Submits Mineral Development R...
6/4/2013Extends Fitzgerald Ranch Closing to June 2015
5/30/2013Announces Acquisition of Strategic New Lands
5/10/2013The Northern Miner writes up Passport Potash=2C Inc.
4/25/2013Announces Completion of First Phase of Drilling on Hopi Prop...
3/19/2013Announces the Dismissal of Lawsuit and Acquisition of Explor...
3/14/2013Chairman David Salisbury talks PEA.
3/13/2013(Holbrook)Announces Positive Preliminary Economic Assessment on its Ho...
11/13/2012and Hopi Tribe Enter Into Joint Exploration Agreement
10/24/2012Investor Introduction
10/16/2012Breaking News on Passport Potash=2C Inc.
10/15/2012Signs Letter of Intent with Hopi Indian Tribe
9/27/2012Announces Mineral Resource Update, Adding Measured Resource ...
9/10/2012Utah Court Grants Passport Potash Motion for Preliminary Inj...
5/24/2012Announces Expanded Drill Program and Reports Progress in Cur...
5/14/2012Enters Into Purchase Agreement to Acquire Fitzgerald Ranch
5/10/2012Continues Expanding the Deposit With Infill and Expansion Dr...
4/24/2012Al Korelin on Passport Potash=2C Inc.'s Latest Site Visit
4/10/2012Chairman to Appear on BNN Commodities Show
2/23/2012Chairman David Salisbury talks with Al Korelin
12/26/2011Season's Greetings from Passport Potash=2C Inc.
10/25/2011Signs LOI to Acquire 50% Ownership Interest in HNZ Potash=2C...
9/6/2011World Money Show, Booth 412, Toronto, September 8-10
7/6/2011highlighted in Dow Jones Newswire
6/20/2011Intersects Up to 25.75% KCL Potash Mineralization at Relativ...
6/15/2011Engages Former Congressman (Hon) Matthew J. Salmon and Upstr...
6/15/2011. Engages Former Congressman (Hon) Matthew J. Salmon and Ups...
6/9/2011Completes Initial Phase Drill Program on Twin Buttes: Set To...
5/6/2011Updates for Passport Potash, Inc.
5/4/2011. Announces Completion of Four Core Holes
4/21/2011Dundee Capital Markets Adds Passport Potash to Its Fertilize...
3/22/2011. to Attend Mines and Money in Hong Kong and FMB Asia Fertil...
3/14/2011. Finalizes Cooperative Agreement with Hopi Tribe
3/11/2011Former Deputy Under-Secretary of the Interior Appointed as a...
3/9/2011President & CEO of Passport Potash Inc., To Appear on Bloomb...
3/3/2011Founder of Anatolia Minerals, James Davidson, Appointed Dire...
3/1/2011. Commences Trading on OTCQX
2/14/2011. Announces Progress on Exploration Program and Additional L...
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