Western Potash Corp. Engages UBS as Global Financi getting close!!!!
Western Potash Corp. Engages UBS as Global Financing Advisor
bwire
VANCOUVER, British Columbia (Business Wire) -- Western Potash Corp. (WPX: TSX) (FSE: AHE) ("the Company") is
pleased to announce that UBS Securities Canada Inc. ("UBS") has been
engaged to assist the Company in the process of evaluating alternatives
related to securing financing for the development of its 100% owned
Milestone property in southern Saskatchewan, Canada (the "Project").
Patricio Varas (CEO and President) commented, "Now that the Company's
Feasibility Study for the Milestone Project has been released, our focus
is on identifying and reviewing various alternatives in order to secure
the financial commitments required to proceed with the Project,
including mine construction. We believe Milestone is a compelling
project that's attracting global attention. UBS brings considerable
experience in arranging and structuring financial solutions for
companies with major capital-intensive projects."
The Company is pleased to announce the receipt of an updated NI 43-101
Technical Report titled NI 43-101 Technical Report Summarizing the
Feasibility Study for a Potash Solution Mine on the Milestone Project
(Subsurface Mineral Lease KLSA 008), Saskatchewan. The Company
confirms that this Report was filed on SEDAR on January 18, 2013. The
Technical Report includes an updated reserve and resource estimate, and
a summary of the Feasibility Study ("the Study") that was summarized via
news release dated December 6, 2012. The Study confirmed that the asset
is of sufficient size and grade to support primary and secondary potash
solution mining for more than 40 years at an ultimate production rate of
2.8Mt/yr. The Study reports an after-tax project Net Present Value
("NPV") of $2.44B CAD, with an Internal Rate of Return ("IRR") of 18.6 %
assuming a nominal discount rate of 10%.
About Western Potash Corp.Western
Potash Corp. is a development stage potash company focused on building
Canada's most efficient potash solution mine, with commercial production
expected to commence in 2016. The Company anticipates Environmental
Assessment approval in the first quarter of 2013. The Company intends to
develop a world-class potash deposit in an ecologically sustainable,
economically efficient and socially responsible manner.