Water Rights Obtained: Sage Potash (SGPTF) Closes in Green SGPTF closed up 9% today with over 2x its average volume.
Potash, a crucial component in fertilizers for optimal crop growth, plays a vital role in ensuring global food security. Sage Potash Corp (traded as SGPTF or SAGE for Canadian investors) is dedicated to promoting sustainable agriculture by supplying domestically sourced potash to the US.
Sage Potash Corp's Sage Plain Project covers an extensive 88,000-acre area in Utah's Paradox Basin, holding an inferred resource of 279.5 million metric tons of high-quality potash.
The Utah Department of Natural Resources Division of Water Rights recently granted SGPTF the authorization to annually withdraw up to 0.207 cubic feet per second (CFS) or 150 acre-feet of brackish water from the Sage Plain Project. This authorization allows SGPTF to utilize brackish water for eco-friendly solution mining of potash, reducing initial capital and production costs.
Solution mining involves injecting a water solution into underground potash deposits, dissolving the soluble potash minerals. The resulting brine, enriched with potash, is brought to the surface for processing. This method is more cost-effective and environmentally friendly compared to traditional mining, as it minimizes surface disruption and efficiently extracts potash resources.
The approval of this water rights permit is expected to reduce exploration permitting risks for SGPTF in the future.
Full news here: https://sagepotash.com/sage-potash-corp-secures-key-water-rights-permit-lowering-risks-in-exploration-permitting-process/ Posted on behalf of Sage Potash Corp.