Business
Encanto secures existing potash producer interest in supplying potash for MMTC contract
Encanto secures existing potash producer interest in supplying potash for MMTC contract ...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\nEncanto secures existing potash producer interest in supplying potash for MMTC contract\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\nEncanto secures existing potash producer interest in supplying potash for MMTC contract\nCanada NewsWire\nVANCOUVER, April 28, 2016\n\n\n\nTRADING SYMBOL: TSXV: EPO\n\n\n\nVANCOUVER, April 28, 2016 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the \"Company\") (TSXV: EPO) is pleased to announce that they have now secured written interest from an existing potash producer to supply potash to a trading company currently being formed, a key step in its plan to become a supplier of potash to Metals and Minerals Trading Company of India (MMTC) http://mmtclimited.gov.in.\n\nThe expanded terms for the Memo of Understanding (MOU) between Encanto and MMTC (press released April 13, 2016) provided the provision for Encanto to facilitate the immediate supply of potash to MMTC.  Encanto now confirms that they have secured an agreement from an existing producer of muriate of potash (MOP) to be able to facilitate its first delivery of potash to MMTC.  Specifications for the product have been supplied and approved.  \n\nEncanto is currently focused on creating the trading company in cooperation with the Muskowekwan First Nation (MFN) and MMTC to become an active potash supplier while concurrently developing the flagship Muskowekwan project.  The ability to supply future potash sales to MMTC would provide a forthcoming revenue stream as well strengthen our working relationship with MMTC and the Government of India.  These future potash sales will supplement Encanto's goal of producing a minimum of 2,000,000 metric tonnes of potash per annum (approximately US$600 million at current prices) from the Company's Muskowekwan Project, in Saskatchewan to MMTC.\n\n\"The ability to deliver potash immediately is an extreme rarity for a junior potash development company and has become possible due to long established international trade relationships that I have developed over an extensive period of time,\" stated Encanto President Sta...