Mr. Salisbury, you recently came out of retirement to work with Passport Potash. What makes this project so intriguing to you?
Passport Potash (TSX: V.PPI, Stock Forum) presents an exciting opportunity to bring a substantial and undeveloped potash deposit into production. The potash deposit in the Holbrook Basin represents the shallowest deposit in North America in the State of Arizona, where mining is welcomed and encouraged. The project also boasts an in place infrastructure that is unequalled by any project in the world, allowing rapid development and access to domestic and international markets.
You were an executive with one of the world’s largest mining companies for over 17 years prior to joining Passport. How will this benefit Passport?
My career experience covers a broad range of mining and processing methods. I have been directly involved in the design, construction of new mines, operations of established mines and closure at end of mine life. This broad range of experience gives me the long horizon insight necessary to design and construct a project capable of efficient operation to the benefit of the company and the host community. At the far distant ending of the economic life of the project, years of responsible operations, and subsequent closure of the facilities will leave a positive legacy and stronger local community.
What milestones can we expect from the company over the next 6-12 months?
Members of the Passport Potash team are committed to building and presenting a strong and credible business case that will demonstrate the substantial value of the project. Work is currently underway to update the recently released NI 43-101 and complete a Preliminary Economic Analysis (PEA) for the project. Upon completion of the PEA, work will begin immediately to advance the PEA into a pre-feasibility study. These two studies will establish the value of the project and differentiate Passport Potash’s superior advantages when compared to other projects in the potash space.
Where do you envision Passport in 3-5 years?
Fieldwork is ongoing to build the necessary baseline databases to allow for the application and eventual approval of the required, state issued, environment permits. A bankable feasibility study will be constructed on the foundation of the PEA and pre-feasibility study to justify full investment in the project leading to a production start in early 2016.
Disclosure: Passport Potash is a Stockhouse client