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Passport Potash Inc. Message Board

  • financesajeed financesajeed Mar 3, 2013 1:24 PM Flag

    Passport Potash Incorporation (PPRTF): Business Prospects

    Passport Potash Incorporation (PPRTF :) is engaged in the acquisition and exploration of mineral properties -Potash. The company has been operating in such an industry where demand for product is very significant. As per SEC Filling (Form 10-Q), PPRTF currently have an interest in or have the right to earn an interest in six properties: Southwest Exploration Property, Twin Buttes Ranch, Sweetwater/American Potash, Mesa Uranium, Ringbolt Property and Fitzgerald Ranch (the Holbrook Basin properties), which are all located in Arizona. The company is an exploration stage enterprise, as defined in FASB ASC 915 “Development Stage Entities.”
    Albeit PPPTF is yet to perform profitable operation till date, successful exploration of potash may turn the company to its expected level. As potash is one of the basic fertilizers for agricultural activities, demand for potash is always high. Simultaneously, price of potash is no longer so much cheaper due to limited supply, need for more efficient farming and crop yields, population growth, increased food consumptions in developing countries, etc. If we review the price of potash, we find that the price of potash was volatile in last decade which was $175 per ton in the beginning of 2007 to $870 in early 2009 before being stabilizing around its current $450. Mining potash is now profitable due to its low cost exploration than most other natural products. PPRTF has a good opportunity to receive the benefit by collecting potash from its fields. It is mentionable that after the huge rally in the price of this natural product, many countries as well as companies are looking for secure future supply of potash and so mining companies have already boosted production of potash from last few years. It is time for PPRTF to show its effectiveness to ensure positive operating result as well as to maximize shareholders value.

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