RE: drilling resultsThe proximity to Agrium is a plus - below from the Aprentice Millionaire
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Potash prices more than tripled to levels above $1,000 a tonne this year as producers struggled to keep up with orders.
At one point last week, there were only 75,000 tonnes of potash in North American producers' warehouses at a time when there should have been 1 million tonnes, Brownlee said.
Potash producers will be unable to supply 8 to 10 percent of world demand this year, or a total of 3 million to 4 million tonnes, mainly in China, Brownlee said.
"We think there's actually a chance that you're going to see potash be short for the next five years," he said.
Potash Corp has announced plans to expand its potash production capacity by 80 percent in coming years, while Agrium is working on an expansion at its mine, and is considering building a new one.