GREY:ETPHF - Post by User
Post by
bob--ten1on Dec 09, 2011 11:37am
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Post# 19307349
Nice post by rivlynhalleran on AAA board
Nice post by rivlynhalleran on AAA boardSouth Boulder Mines (ASX:STB). Market capitalisation A$190 million.
This company owns the world’s shallowest potash project. The groundin Eritrea contains two potash-bearing horizons at depths between 22.2metres and 64.8 metres. The project is located 70km south of the shallowwater port of Mersa Fatma and less than 200km from the deepwater portof Massawa. There is the option of restoring an abandoned railway linethat runs through STB’s Colluli project area. A slurry pipeline to portmay also be an option. The maiden resource came in at 548 million tonnesat 19 per cent KCI; mineralisation remains open and consists ofsylvinite, carnallite and kanite ore. A scoping study is under way todetermine the feasibility of an open pit producing between 2 million and10 million tonnes a year. The report notes that, after a phenomenalshare price run in late 2010 and into 2011, the price has come back toattractive levels. It sees STB as “on the radar for potential corporateactivity”.