http://www.juniorminingnetwork.com/junior-miner-news/news-releases/438-tsx-venture/ppi/9586-passport-potash-announces-positive-preliminary-economic-assessment-on-its-holbrook-basin-potash-project.html

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2013) - Passport Potash Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) ("Passport" or the "Company") is pleased to announce the receipt of a positive preliminary economic assessment on its Holbrook Basin potash project (the "PEA"), prepared in accordance with National Instrument 43-101 standards of disclosure for mineral properties. The independent PEA was prepared by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH ("ERCOSPLAN"), a consulting and engineering firm, specialized in the potash and salt industry, headquartered in Erfurt, Germany. The key findings of the report include the following:

KEY FINANCIAL HIGHLIGHTS

Pre-tax NPV@12%
$3.25 billion USD

Pre-tax IRR (30% income tax rate)
31.59%

After-tax NPV@12%
$2.19 billion USD

After-tax IRR (30% income tax rate)
27.08%

Estimated Total Capital Expenditures
$1.949 billion USD

Estimated Total Operating Expenditures (includes sustaining OPEX)
$114/tonne KCl USD

Payback Period (from start of production)
8 years

ASSUMPTIONS

Discount Rate for Project Related Risks
12%

Potash Price for 2013 (standard MOP)
$430/tonne USD

Accuracy
+/-35%

KEY RESOURCE HIGHLIGHTS*

Measured Mineral Resources (including Passport and Hopi properties)
34.77 MT

Average Measured KCl Grade
14.38%

Indicated Mineral Resources (including Passport and Hopi properties)
363.17 MT

Average Indicated KCl Grade
14.68%

KEY MINING PRODUCTION HIGHLIGHTS

Annual Production (60% minimum K2O)
2.5 MT MOP

Life of Mine
26 years

Mining Method
Conventional Underground
Room & Pillar

Processing method
Hot Leach

Plant Recovery Rate (KCl)
89.8%

Estimated Employees (Mining, Production, Management)
1,770

* Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Is it just me, or does the audio feed seem to garble when Elmer speaks?

Is this normal and will they released a cleaned up version afterwards?

http://www.forbes.com/sites/richardfinger/2012/11/06/how-arizona-is-heping-america-reduce-dependence-on-foreign-natural-resources/

Passport Potash (PPRTF.pk) currently a tiny $36mm market cap pink sheet listed Vancouver, Canada based firm controls 122,000 acres of land through state leases or direct ownership. Its recently updated National Instrument 43-101 (mineral resource estimate) more than doubled Indicated Resources and increased Inferred Resources nearly 15%. Indicated Resources might be analogous to “proved” reserves in oil jargon; you know where the fish are in the lake, you just have to go catch them. The NI 43-101report is the required first step in the multiyear approval process and is carried out only by registered geologists or geophysicists, in this case German firm ERCOSPLAN. At current potash prices of around $450 per ton Passport Potash may be sitting on reserves with a gross value of $50 billion…..and this report has surveyed only 37% of Passport’s land holdings.

Thanks Tom&Chap

Hello,

I was wondering if anyone could recommend any books on intro to mining or investing in natural resource.

Trying to learn as much as I can, and looking for a good source for a 'newbie' in this field.

Thanks