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Encanto Potash Receives Request for Potash Quote from India's MMTC
Encanto Potash Receives Request for Potash Quote from India's MMTC Canada NewsWire...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\nEncanto Potash Receives Request for Potash Quote from India's MMTC\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 6, 2017\n\n\n\nTSXV: EPO\n\n\n\nVANCOUVER, March 6, 2017 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the \"Company\") (TSXV: EPO) is pleased to confirm that they are in receipt of 3 separate requests for potash quotes originating from India. \n\nThe orders would fall under the previously announced agreement between the Company and Metals and Minerals Trading Company, India's largest trading company. That agreement for a minimum 2M tonnes of potash annually contained a unique clause allowing for potential sales from existing potash producers as the Company works concurrently on developing their flagship Muskowekwan potash project.\n\nThe first request is for the supply of 30,000 MT white muriate of potash (MOP).\n\nThe second request is also for the supply of 30,000 MT (pink or red) muriate of potash.\n\nThe third request is for the supply of 60,000 MT (Pink) muriate of potash.\n\nEncanto management is presently in discussions with an existing producer which had expressed prior interest in potential potash orders and supporting Encanto in India. The discussions are not limited to these initial spot orders but to a price and terms of a longer term supply agreement. \n\nCEO and President Stavros Daskos commented on the receipt of separate tender requests: \"The significance of receiving these requests is that if Encanto had an operating mine, it would now be supplying India's market share as a result of its two agreements. There would not be the oversupply issues that the segment is embroiled in, but the significant exports in the billions of dollars on a cooperative basis.\n\nWe are currently working with our engineering team on an updated feasibility study to reflect current realities and it will now demonstrate the economics of a mine that may have an increased capacity over the previously envisioned 2.8MT annually. The updated 43-101 compliant feasibility numbers will also help us determine the ter...