Western Potash Corp. (TSX:T. WPX,Stock Forum) said that the City of Regina approved a plan that will see a large portion of the City’s treated sewage effluent routed to Western Potash’s Milestone Potash mine site, located approximately 30 km Southeast of Regina of Mosaic’s Belle Plaine mining lease.
The Agreement, if paid out annually, is worth more than $200 million to the City of Regina over the 45-year term of the Agreement and will see up to 60,000 cubic metres of treated effluent diverted daily from the Regina wastewater treatment plant to the Milestone Potash Project mine site.
Once up and running, the Milestone Project will draw between 40% and 70% of the City of Regina‘s wastewater.
The Milestone Project contains potash resources of sufficient size and grade to support solution mining for more than 40 years at a production rate of 2.8 million tonnes per year.
Western Potash Corp. is a mineral exploration company engaged in the evaluation, exploration and development of potash mineral properties in Western Canada.
On Tuesday, Western Potash was trading for $1.18 a share. The company has a market cap of $190.3 million, based on $161.3 million shares outstanding. The 52-week high and low was $1.56 and $0.70 respectively.