https://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Tue, 16 Oct 2018 14:35:16 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Buddy Platform turns to Dicker Data for distribution as Telstra bows out ]]> https://www.proactiveinvestors.com.au/companies/news/195324/buddy-platform-turns-to-dicker-data-for-distribution-as-telstra-bows-out-195324.html Buddy Platform Ltd (ASX:BUD) will look to Dicker Data Ltd (ASX:DDR) as its primary distribution channel for Buddy Ohm in Australia.

Buddy Ohm is a system for facility resource monitoring and verification that uses sensors to track temperature, humidity, electricity, gas, water, and steam consumption, and solar power generation.

This allows operators and tenants to monitor critical systems and drive down monthly resource spending.

Negotiations with Telstra end

Yesterday Buddy revealed it had ceased negotiations for Telstra Ltd (ASX:TLS) to become the primary Buddy Ohm reseller in Australia.

Instead, current distributor, Dicker Data will become the primary distribution channel for Buddy Ohm in Australia.

Global distribution growing

Globally, Buddy will distribute through Ingram Micro into the UK, Spain and Germany.

This milestone was a direct result of the investment made by both Buddy and Ingram Micro to exhibit together at Mobile World Congress in Barcelona back in late February 2018.

Furthermore, sales of Buddy Ohm in the UK by way of authorised reseller, Rizon IoT, have commenced.

Leveraged to the Internet of Things (IoT)

Buddy provides scalable Internet of Things (IoT) data aggregation and management infrastructure by way of three unique offerings – Buddy Cloud, Buddy Ohm and Parse on Buddy.

The Buddy Cloud offers smart city providers a globally scalable data management platform.

Governments and organisations around the world already have investments in connected lighting, parking, traffic, building monitoring.

Buddy Cloud can help provide visibility and control system-wide for large-scale projects.

Buddy Ohm is a complete and low-cost solution for facility resource monitoring and verification.

Finally, Parse on Buddy is a free mobile backend as a service (mBaaS).

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Thu, 19 Apr 2018 15:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195324/buddy-platform-turns-to-dicker-data-for-distribution-as-telstra-bows-out-195324.html
<![CDATA[News - Buddy Platform expands distribution deal with Ingram Micro ]]> https://www.proactiveinvestors.com.au/companies/news/192093/buddy-platform-expands-distribution-deal-with-ingram-micro-192093.html Buddy Platform Ltd (ASX:BUD) and Ingram Micro Inc. (NYSE:IM) have extended their distribution relationship to Mexico, Brazil and 18 additional Latin American markets.

Buddy’s building monitoring solution, Buddy Ohm, can help provide new insights for building operators and tenants to monitor critical systems and drive down monthly resource spending.

Streamlining distribution and driving reseller growth

Last month, Buddy signed an agreement with Ingram Micro, the world’s largest distributor of technology products and supply chain services, to distribute the Buddy Ohm product line worldwide.

The deal with Ingram Micro is expected to streamline distribution and drive reseller growth for Buddy.

In addition to distributing the Buddy Ohm product to resellers worldwide, Ingram Micro will also work with Buddy to develop training programs for both sales staff and installation staff.

Europe and Latin America are target markets

According to the US Energy Information Administration, there were 5.6 million commercial buildings in the U.S. amounting to 87 billion square feet of floorspace.

Latin American market is nearly double that of the US (by population), and the region covered by the latest agreement includes 47 cities whose population exceeds one million.

Buddy’s next focus will be to launch in Europe.

READ: Buddy Platform’s building monitoring solution launched in new markets ]]>
Fri, 23 Feb 2018 13:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192093/buddy-platform-expands-distribution-deal-with-ingram-micro-192093.html
<![CDATA[News - Buddy Platform’s building monitoring solution launched in new markets ]]> https://www.proactiveinvestors.com.au/companies/news/189920/buddy-platforms-building-monitoring-solution-launched-in-new-markets-189920.html Buddy Platform Ltd’s (ASX:BUD) building monitoring solution, Buddy Ohm, has been launched in Trinidad & Tobago, Barbados, Bermuda, Aruba, St. Vincent and Panama.

Digicel Group is the exclusive distributor and reseller of Buddy Ohm in the Caribbean and Central America.

Buddy Ohm can help provide new insights for building operators and tenants to monitor critical systems and drive down monthly resource spending.

The expansion of Buddy Ohm sales to the new territories comes in addition to the existing markets in the region including El Salvador, Curaçao and Bonaire.

Under the exclusive distribution and reseller agreement in place with Digicel, there will ultimately be 26 countries and territories into which Buddy Ohm is sold.

It is expected that this roll out will be concluded by the end of February 2018.

READ: Buddy Platform secures $23M to expand channel sales strategy

Buddy successfully raised $23 million in the last quarter via an oversubscribed placement of shares at $0.20 each to new and existing institutional investors.

The placement provides Buddy with the resources and institutional support to expand its successful channel sales strategy for Buddy Ohm.

The company’s share price has increased circa 145% over the past six months, last trading at $0.245.

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Fri, 12 Jan 2018 11:19:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189920/buddy-platforms-building-monitoring-solution-launched-in-new-markets-189920.html
<![CDATA[News - Buddy Platform finalising primary reseller agreement with Telstra ]]> https://www.proactiveinvestors.com.au/companies/news/186701/buddy-platform-finalising-primary-reseller-agreement-with-telstra-186701.html Buddy Platform Ltd (ASX:BUD) is finalising negotiations with Telstra Corporation (ASX:TLS) to make Telstra the primary sales channel for Buddy Ohm across Australia.

Buddy Ohm is the company’s energy monitoring and verification solution currently sold in the Caribbean, U.S., Australia, Canada and soon in the UK.

Significantly, this deal would represent the largest reseller agreement by market size and forecast unit volume for Buddy to date.

Telstra is expected to become the preferred reseller of Buddy Ohm in Australia, and in turn Buddy will migrate most of its existing customer base to Telstra.

In doing so, Telstra is expected to gain access to a projected multimillion dollar pipeline of Buddy Ohm customers from the commencement of the deal.

In turn, Buddy will be able to streamline its operations to focus on supporting Telstra and its growing roster of global mobile operator resellers.

It is worth noting that Buddy will retain the majority of revenues generated from Telstra’s sale of Buddy Ohm.

Earlier this week, Buddy successfully raised $23 million via an oversubscribed placement of shares at $0.20 each to new and existing institutional investors.

READ NOW: Buddy Platform secures $23M to expand channel sales strategy

The placement provides Buddy with the resources and institutional support to expand its successful channel sales strategy for Buddy Ohm.

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Fri, 03 Nov 2017 13:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186701/buddy-platform-finalising-primary-reseller-agreement-with-telstra-186701.html
<![CDATA[News - Buddy Platform secures $23M to expand channel sales strategy ]]> https://www.proactiveinvestors.com.au/companies/news/186393/buddy-platform-secures-23m-to-expand-channel-sales-strategy-186393.html Buddy Platform Ltd (ASX:BUD) has successfully raised $23 million via an oversubscribed placement of shares at $0.20 each to new and existing institutional investors.

The placement provides Buddy with the resources and institutional support to expand its successful channel sales strategy for Buddy Ohm.

Buddy Ohm is a solution for facility resource monitoring and verification, connecting systems that were never designed to work together, while turning energy savings into a strategic asset.

The company is currently in the process of formalising a potential large distribution arrangement which, if concluded and implemented, will span over 100 new markets.

Buddy will also use the proceeds from the placement to advance the company’s research and development efforts.

The company recently secured its largest distribution deal to date, with Ingram Micro Canada, part of Ingram Micro Inc (NYSE:IM), the world’s largest distributor of technology products.

READ NEXT: Buddy Platform has a growth plan following its largest distribution deal

The company’s share prices have increased circa 40% in the past three months, closing at $0.24 on Monday.

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Mon, 30 Oct 2017 16:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186393/buddy-platform-secures-23m-to-expand-channel-sales-strategy-186393.html
<![CDATA[News - Buddy Platform has a growth plan following its largest distribution deal ]]> https://www.proactiveinvestors.com.au/companies/news/186226/buddy-platform-has-a-growth-plan-following-its-largest-distribution-deal-186226.html Buddy Platform Ltd (ASX:BUD) recently secured its largest distribution deal to date, having executed a nationwide resale and distribution agreement with Ingram Micro Canada, part of the world’s largest distributor of technology products.

The agreement will give Buddy access to Ingram Micro’s national network of resellers.

Buddy provides highly scalable Internet of Things data aggregation and management infrastructure.

The company has now attracted investment from sophisticated investors to fund growth, and the ASX has granted a trading halt to prepare details.

The halt will remain in place until the opening of trade on Monday 30th October 2017, or earlier if an announcement is made to the market.

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Thu, 26 Oct 2017 10:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186226/buddy-platform-has-a-growth-plan-following-its-largest-distribution-deal-186226.html
<![CDATA[News - Buddy Platform launches resource monitoring solution in Canada via SaskTel ]]> https://www.proactiveinvestors.com.au/companies/news/182837/buddy-platform-launches-resource-monitoring-solution-in-canada-via-sasktel-182837.html Buddy Platform Ltd (ASX:BUD) and Canadian telecom company SaskTel have reached an agreement to sell Buddy Ohm through SaskTel’s sales teams across the Canadian province of Saskatchewan.

The company’s shares were last trading 8.5% higher intra-day, at $0.255.

Buddy Ohm is a low cost solution for facility resource monitoring and verification, connecting systems that were never designed to work together, while turning energy savings into a strategic asset.

SaskTel is the leading Information and Communications Technology (ICT) provider in Saskatchewan, with over C$1.2 billion in annual revenue and circa 1.4 million customer connections.

Buddy’s partnership with SaskTel will provide for the expansion of Buddy Ohm sales into major commercial and industrial customers in the region.

Importantly, SaskTel is the second mobile operator to sell Buddy Ohm, and represents the first major inroad for the product in the Canadian market.

With this agreement, SaskTel will identify and facilitate sales of Buddy Ohm into key customers looking to reduce their overall energy spend and reduce their carbon footprint.

By bringing Buddy Ohm to this market, SaskTel will be pairing Buddy’s resource monitoring solution with SaskTel’s 4G network – the largest such network in Saskatchewan.

Last month, Buddy reached an agreement with Digicel, the largest mobile operator in the Caribbean, to sell, distribute and install Buddy Ohm through Digicel’s sales and operations teams.

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Wed, 23 Aug 2017 11:53:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182837/buddy-platform-launches-resource-monitoring-solution-in-canada-via-sasktel-182837.html
<![CDATA[News - Buddy Platform teams up with the largest mobile operator in the Caribbean ]]> https://www.proactiveinvestors.com.au/companies/news/180884/buddy-platform-teams-up-with-the-largest-mobile-operator-in-the-caribbean-180884.html Buddy Platform Ltd (ASX:BUD) and Digicel, the largest mobile operator in the Caribbean, has reached an agreement to sell, distribute and install Buddy Ohm through Digicel’s sales and operations teams.

Buddy provides highly scalable Internet of Things (IoT) data aggregation and management infrastructure by way of its unique offerings including Buddy Ohm.

Buddy Ohm is a low cost solution for facility resource monitoring and verification, connecting systems that were never designed to work together, while turning energy savings into a strategic asset.

Digicel will start marketing, selling, distributing and installing Buddy Ohm across its 26 markets in the Caribbean and Central America.

Tourism is the largest driver of revenues for the Jamaican economy and the wider region.

Major hotels, international resorts and other tourism facilities are enormous consumers of water and electricity.

Given the high cost of these resources, Digicel and Buddy have recognised an immediate opportunity to offer Ohm to help customers reduce their energy expenditure.

As the leading mobile operator in the Caribbean, Digicel has deep and broad relationships with the largest consumers of energy in the Caribbean.

This provides a unique opportunity to sell Ohm to business customers in need of energy monitoring services.

Buddy’s shares were last trading 14% higher intra-day on Friday, at $0.125.

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Fri, 14 Jul 2017 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180884/buddy-platform-teams-up-with-the-largest-mobile-operator-in-the-caribbean-180884.html
<![CDATA[News - Buddy Platform, Countplus, Kidman Resources, AVZ Minerals, 88 Energy - early movers ]]> https://www.proactiveinvestors.com.au/companies/news/180878/buddy-platform-countplus-kidman-resources-avz-minerals-88-energy-early-movers-180878.html The ASX 200 built on Thursday’s impressive gains to open 9.2 points to the good at 5,746, defying predictions that it would in fact lose ground.

There was a warning from the boss of Santos Ltd (ASX:STO), Kevin Gallagher, who said planned controls on the export of gas could cripple the industry.

Buddy Platform news applauded...

Shares in Buddy Platform Ltd (ASX:BUD), a specialist in the internet of things, advanced 9% early. It has inked a deal with Digicel that will see one of Buddy’s main products rolled across 26 markets in the Caribbean and Central America.

The strategic review and rebasing of the dividend by professional services group Countplus Ltd (ASX:CUP) doesn’t appear to have gone down particularly well with investors. The shares, off 42% in the last year, fell a further 12% Friday.

HearMeOut up strongly...

Whitehaven Coal Ltd, whose revenues undershot consensus when it updated the market Thursday, was an early large-cap casualty, posting a 2% fall.

Social media micro-cap HearMeOut Ltd (ASX:HMO) was up more than 50% at one point, backed by substantial trading volumes. So far this week it is up 133% - with absolutely no new news.

There is plenty of chatter among the more speculative elements in the investment community with a lot of noise around Kidman Resources Ltd (ASX:KDR) post its tie-up with SQM. Also being talked about were AVZ Minerals Ltd (ASX:AVZ), Fastbrick Robotics Ltd (ASX:FBR) and 88 Energy (ASX:88E).

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Thu, 13 Jul 2017 20:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180878/buddy-platform-countplus-kidman-resources-avz-minerals-88-energy-early-movers-180878.html
<![CDATA[News - Buddy Platform launches smart building monitoring solution ]]> https://www.proactiveinvestors.com.au/companies/news/175263/buddy-platform-launches-smart-building-monitoring-solution-175263.html Buddy Platform (ASX:BUD) has launched “Buddy Ohm”, a building monitoring solution for monitoring the consumption of electricity, gas, water and other resources in buildings.

The company’s shares were trading 3% higher intra-day on Thursday, at $0.062.

Buddy Ohm is a full monitoring solution comprised of Internet of Things (IoT) hardware, data infrastructure, operations portal, dashboards and on-the-go mobile experience.

Leveraging the power of the IoT, Buddy Ohm extracts data from buildings, which is then processed by the company’s powerful data infrastructure service, The Buddy Platform.

Buddy Ohm is the first end-to-end system from Buddy Platform designed to help current and future smart city projects.

Buddy Ohm hardware, service, maintenance and support are all included in a standard installation fee of US$1,500 per month per facility.

The service is expected to provide significant cost savings compared to traditional CAPEX-intensive resource monitoring solutions that often run in the hundreds of thousands of dollars.

Interestingly, customer data is already confirming that Ohm pays for itself within the first year as a result of energy savings realised.

The company will launch Buddy Ohm in Seattle’s famed 5th Avenue Theater, which includes an auditorium about the size of the Sydney Opera House Concert Hall.

Buddy is aiming to provide resource monitoring services for more than 1.5 million buildings in the U.S. and Australia that do not presently run building management systems.

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Thu, 23 Mar 2017 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175263/buddy-platform-launches-smart-building-monitoring-solution-175263.html
<![CDATA[News - Buddy Platform shares rise on contract with major U.S. company ]]> https://www.proactiveinvestors.com.au/companies/news/171570/buddy-platform-shares-rise-on-contract-with-major-us-company-171570.html The company’s shares are up 8.6% intra-day, currently trading at A$0.063 on the ASX.

Buddy is a provider of data aggregation and management platforms for internet of things (IoT) and connected devices.

The new contract brings Buddy’s total contracted value with Thor Industries, a manufacturer of recreational vehicles, to A$2.25 million.

The project, which builds upon the existing customer relationship between Buddy and the customer, deploys Buddy-powered smart city and connected residential technologies.

This innovative solution will unlock many new user experiences for Thor Industries by leveraging Buddy’s monitoring technologies and the flexibility of the core Buddy Platform.

The new statement of work provides for A$1.8 million of contracted commitments starting immediately, and running through the end of May 2018.

Thor Industries has flagged an interest in optionally purchasing an additional component valued at nearly A$350,000 prior to December 2017.

A further ongoing platform and application services component of more than A$250,000 will apply from June 2018 if the customer wishes to continue with the provision of services by Buddy.

Importantly, devices or hardware components required by Thor Industries will be incremental to these figures.

Earlier this week, Buddy terminated the proposed transaction to acquire energy and water monitoring specialist Noveda Technologies.

The company remains committed to bringing an alternatively sourced solution to market that will meet the needs of customers in this space.

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Fri, 13 Jan 2017 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171570/buddy-platform-shares-rise-on-contract-with-major-us-company-171570.html
<![CDATA[News - Buddy Platform granted pre-open status pending shareholder vote ]]> https://www.proactiveinvestors.com.au/companies/news/167738/buddy-platform-granted-pre-open-status-pending-shareholder-vote-167738.html The company requested the halt pending the outcome of the general meeting of shareholders today.

The halt will remain in place until the opening of trade on Tuesday 25th October 2016, or earlier if an announcement is made to the market.

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Fri, 21 Oct 2016 09:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167738/buddy-platform-granted-pre-open-status-pending-shareholder-vote-167738.html
<![CDATA[News - Buddy Platform to update on acquisitions ]]> https://www.proactiveinvestors.com.au/companies/news/167335/buddy-platform-to-update-on-acquisitions-167335.html The halt will remain in place until the opening of trade on Monday 17th October 2016, or earlier if an announcement is made to the market.

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Thu, 13 Oct 2016 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167335/buddy-platform-to-update-on-acquisitions-167335.html
<![CDATA[News - Buddy Platform Ltd updates on energy management acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/133556/buddy-platform-ltd-updates-on-energy-management-acquisition-70011.html Buddy Platform Ltd’s (ASX:BUD) acquisition target Noveda Technologies, Inc. has been selected to be part of The New York State Energy Research and Development Authority US$36 million pledge to increase the energy efficiency of New York's commercial buildings.

NYSERDA is a public benefit corporation promoting energy efficiency and the use of renewable energy sources in the State.

In May, Buddy Platform executed a letter of intent to acquire all the assets of Noveda Technologies for US$3 million plus additional milestone payments.

Noveda is one of only two providers (and the only U.S. provider) for NYSERDA’s $36 million Real Time Energy Management (RTEM) program.

NYSERDA’s program is designed to accelerate the adoption of RTEM installations in existing buildings and facilities across New York by funding 30% of the costs of integrating such installations.

The recipients of this funding will need to purchase their RTEM system and ongoing services from one of the approved providers.

Noveda’s product – powered by the Buddy Platform - enables analytics and intelligence that is used by building owners, managers and service providers to monitor and track energy consumption and savings.

Last week, Buddy Platform achieved its first performance milestone ahead of schedule by successfully marking 20 million discrete connections per day for 3 consecutive weeks.

The traffic is sourced from a wide variety of devices including over 4,600 electrical, solar, water and wind meters in over 80 countries around the world.

Buddy Platform completed a share placement earlier this month to raise $4.5 million from sophisticated investors at $0.10 per share.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 25 Jul 2016 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133556/buddy-platform-ltd-updates-on-energy-management-acquisition-70011.html
<![CDATA[News - Buddy Platform Ltd to update on raising for acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/133555/buddy-platform-ltd-to-update-on-raising-for-acquisition-69597.html Buddy Platform Ltd (ASX:BUD) has been granted a trading halt by the ASX this morning pending details of a capital raising to cover the costs of integrating the proposed acquisitions of Noveda Technologies Inc. and Zentri Inc.

The halt will remain in place until the opening of trade on Wednesday 6th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 04 Jul 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133555/buddy-platform-ltd-to-update-on-raising-for-acquisition-69597.html
<![CDATA[News - Buddy Platform Ltd to update on potential acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/133554/buddy-platform-ltd-to-update-on-potential-acquisition-69433.html Buddy Platform Ltd (ASX:BUH) provides data aggregation and management platforms for the IoT (internet of things) and connected devices.

Buddy Platform's users include a variety of industries such as airlines, agriculture, automotive, consumer electronics, robotics, software development, telecommunications, and transportation.

Today Buddy Platform has been granted a trading halt by the ASX to prepare, pending the release of an announcement with regard to this potential acquisition.

The halt will remain in place until the opening of trade on Tuesday 28th June 2016, or earlier if an announcement is made to the market.

On May 17 2016, Buddy Platform announced a proposed transaction with Noveda Technologies, a company focused on real-time, web-based energy and water monitoring.

The intent was to acquire substantially all of the assets of Noveda including relationships for future prospective customers.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 24 Jun 2016 15:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133554/buddy-platform-ltd-to-update-on-potential-acquisition-69433.html
<![CDATA[News - Buddy Platform Ltd to divulge strategic acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/133553/buddy-platform-ltd-to-divulge-strategic-acquisition-68616.html Buddy Platform Ltd (ASX:BUD) has some interesting news flow this week, in the form of a strategic acquisition.

The company has been granted a trading halt to prepare, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Wednesday 18th May 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 16 May 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133553/buddy-platform-ltd-to-divulge-strategic-acquisition-68616.html
<![CDATA[News - Buddy Platform Ltd starts beta-testing of mobile backend service ]]> https://www.proactiveinvestors.com.au/companies/news/133552/buddy-platform-ltd-starts-beta-testing-of-mobile-backend-service-68154.html Internet of Things (IoT) company Buddy Platform Ltd (ASX:BUD) has commenced beta testing of the ‘Parse Server by Buddy’, a smartphone data platform.

Parse Server by Buddy is a mobile backend-as-a-service (mBaaS) solution, which is a model for providing web and mobile app developers with a way to link their applications to backend cloud storage.

Buddy Platform, a US-based company delivering a global platform for accessing and analysing data from IoT devices, was acquired by Potash Minerals Ltd and listed on the ASX in December 2015.

The listing followed a successful public offer of shares that raised $12.5 million at $0.10 per share, and a further $2.6 million in options exercised at $0.20 per share.

Buddy’s primary product is Parse Server, which grew to power over one million mobile applications globally, before being acquired by Facebook in 2013.

Earlier this year, Facebook made the decision to transition the product to the open source community and to de-commission their hosted offering.

Buddy is actively beta testing the new platform with Facebook’s assistance, to go live and be fully operational prior to the April 28th cutoff date provided by Facebook, to help the developers affected by the de-commissioning.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 19 Apr 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133552/buddy-platform-ltd-starts-beta-testing-of-mobile-backend-service-68154.html
<![CDATA[News - Potash Minerals to update on Buddy Platform acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/133551/potash-minerals-to-update-on-buddy-platform-acquisition-64255.html Potash Minerals (ASX:POK) is in the process of acquiring US-based Internet of Things (IoT) data platform, Buddy Platform, Inc.
   
The company is now in an ASX trading halt in relation to the completion of due diligence on the acquisition.

This will last until the earlier of the announcement being made or the start of trade on Tuesday, 1st September 2015.

Buddy takes the data generated by devices connected to the internet and secures it, manages it, then makes it useful.

To highlight the massive growth, Cisco estimates by 2020 that there’ll be over 50 billion devices connected to the internet.

Buddy offers functionality as software as a service – sold to organizations that manufacture or manage devices which generate data, but which are not equipped to manage, secure or access this volume of data.

Buddy operates a global technology platform to meet customers’ IoT data sovereignty needs with infrastructure located in the US, EU, China and soon, Australia.

Early investors include US west coast VCs, Microsoft Corporation and AF Square, the venture division of prominent Los Angeles entertainment and artist management company, Atom Factory.

Potash had $1.07 million in cash as at 30th June 2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 28 Aug 2015 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133551/potash-minerals-to-update-on-buddy-platform-acquisition-64255.html
<![CDATA[News - Potash Minerals tops volume charts with 50 million shares traded ]]> https://www.proactiveinvestors.com.au/companies/news/133550/potash-minerals-tops-volume-charts-with-50-million-shares-traded-63596.html Wednesday’s leading volume stocks on the ASX.

NameCodeLastChangeVolume Potash Minerals ASX:POK $0.074 19.4% 50,078,924 LWP Technologies ASX:LWP $0.011 0% 49,225,392 Duet Group ASX:DUE $2.18 -8.4% 37,093,384 South32 Limited ASX:S32 $1.785 -2.2% 25,289,592 88 Energy ASX:88E $0.012 -14.3% 24,758,743 Fortescue Metals Group ASX:FMG $1.75 0.6% 23,865,656 Soilsub Technologies ASX:SOI $0.002 0% 21,747,619 Rimfire Pacific ASX:RIM $0.033 65% 21,497,833 Lakes Oil ASX:LKO $0.002 0% 20,528,169 Alumina Limited ASX:AWC $1.495 0.3% 18,982,989

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 23 Jul 2015 08:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133550/potash-minerals-tops-volume-charts-with-50-million-shares-traded-63596.html
<![CDATA[News - Potash Minerals makes friends in the cloud with Buddy acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/133549/potash-minerals-makes-friends-in-the-cloud-with-buddy-acquisition-63536.html Potash Minerals (ASX:POK) has exited an ASX trading halt this morning following the execution of an exclusive option agreement to acquire 100% of US-based Internet of Things (IoT) data platform, Buddy Platform, Inc.

The proposed ASX listing will provide a platform for Buddy to grow a global business, take a leadership position in the management and aggregation of IoT data, while expanding the company’s commercial footprint in Australia.

Buddy takes the data generated by devices connected to the internet and secures it, manages it, then makes it useful.

To highlight the massive growth, Cisco estimates by 2020 that there’ll be over 50 billion devices connected to the internet.

Buddy offers functionality as software as a service – sold to organizations that manufacture or manage devices which generate data, but which are not equipped to manage, secure or access this volume of data.

Buddy operates a global technology platform to meet customers’ IoT data sovereignty needs with infrastructure located in the US, EU, China and soon, Australia.

Early investors include US west coast VCs, Microsoft Corporation and AF Square, the venture division of prominent Los Angeles entertainment and artist management company, Atom Factory.


Who will use Buddy?

Buddy’s technology is of value to device and sensor manufacturers, automotive OEMs, airlines, connected home and smart metering companies, telecommunications companies & mobile carriers, mobile application developers, amongst others.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 20 Jul 2015 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133549/potash-minerals-makes-friends-in-the-cloud-with-buddy-acquisition-63536.html
<![CDATA[News - Potash Minerals updates Resource at Utah potash project to JORC 2012 ]]> https://www.proactiveinvestors.com.au/companies/news/133548/potash-minerals-updates-resource-at-utah-potash-project-to-jorc-2012-50968.html Potash Minerals (ASX: POK) has updated Resources at its Hatch Point Potash Project in the Paradox Basin, Utah, to 902 million tonnes at 20.3%KCI according to JORC 2012 standards.

It also reaffirmed the high grade sylvinite of 303Mt at 24.4% KCI and 104Mt at 30% KCI.

There is considerable potential to increase these figures as the current Resource has been defined on less than 20% of the 405 square kilometre project area.

Upon completion of the company’s proposed four-hole federal drilling program, the potash resource is expected to increase in size and status.

Hatch Point is strategically located to serve the large US agricultural market and benefits from excellent infrastructure, transportation and availability of ground water, gas, electricity and local labour.

It also has substantial export potential given its excellent proximity to key U.S. rail infrastructure leading to West Coast and Gulf ports.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 06 Dec 2013 15:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133548/potash-minerals-updates-resource-at-utah-potash-project-to-jorc-2012-50968.html
<![CDATA[News - Potash Minerals to reveal details of capital raising for Hatch Point project in the USA ]]> https://www.proactiveinvestors.com.au/companies/news/133547/potash-minerals-to-reveal-details-of-capital-raising-for-hatch-point-project-in-the-usa-45802.html Perth based Potash Minerals (ASX:POK) will come out of a self imposed trading halt Wednesday 24 July and announce details of a capital raising.

Recently, it defined a maiden JORC mineral resource estimate at its 90% owned Hatch Point Potash Project in the United States of 902 million tonnes at 20% KCl with a 15.9% KCl cut-off.

Potash refers to potassium compounds and potassium-bearing materials, the most common being potassium chloride (KCl).

The resource at Hatch Point is believed to be one of the largest and high grade potash resources in the U.S.

It included a high grade sylvinite resource of 303 million tonnes at 24.4% KCl and 104 Mt at 30% KCl.

Interestingly, the maiden resource took in less than one fifth of project area.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 22 Jul 2013 11:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133547/potash-minerals-to-reveal-details-of-capital-raising-for-hatch-point-project-in-the-usa-45802.html
<![CDATA[News - Potash Minerals defines maiden Potash Resource at Utah project ]]> https://www.proactiveinvestors.com.au/companies/news/133546/potash-minerals-defines-maiden-potash-resource-at-utah-project-43476.html Potash Minerals (ASX: POK) has defined a maiden JORC Resource of 902 million tonnes at 20% KCI at its Hatch Point Potash Project in the Paradox Basin, Utah.

Notably, the Resource includes high grade sylvinite of 303Mt at 24.4% KCI and 104Mt at 30% KCI and covers less than 20% of the 405 square kilometres project area,

Additionally, only potash beds at least 2 metres thick and of greater than 15.9% KCl-equivalent grade were included in this estimate.

Independent consultant Agapito Associates prepared the estimate based on data from 45 drill holes, including four cored holes with potash assays, on the site or in the immediate Project area.

The company had last month received approval to drill four holes on Federal land. This is expected to increase the potash resource in size and status as additional land should be able to be included in the area of influence used in the calculation of this JORC resource.

This Federal Potash Exploration Permit granted by the U.S.  Bureau of Land Management, the first granted in Utah in more than 25 years, gives Potash Minerals the right to carry out exploration on the 22 highly prospective potash prospecting permits on Federal land.

Hatch Point is strategically located to serve the large US agricultural market and benefits from excellent infrastructure, transportation and availability of ground water, gas, electricity and local labour.

It also has substantial export potential given its excellent proximity to key U.S. rail infrastructure leading to West Coast and Gulf ports.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 20 May 2013 10:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133546/potash-minerals-defines-maiden-potash-resource-at-utah-project-43476.html
<![CDATA[News - Potash Minerals secures U.S. Federal permit for Utah potash project ]]> https://www.proactiveinvestors.com.au/companies/news/133545/potash-minerals-secures-us-federal-permit-for-utah-potash-project-42572.html Potash Minerals (ASX: POK) has been awarded a Federal Potash Exploration Permit by the U.S.  Bureau of Land Management for its K2O Utah potash exploration project, sending its shares up 48.08% to $0.385 this morning.

The permit, the first to be granted in Utah for more than 25 years, allows exploration activity to move on to the Federal land following on from the significant progress made during 2012 on the State areas.

Importantly, it also means the company’s independent geologists, Agapito, can immediately prepare the maiden JORC resource for the project.

Exploration drilling can now take place on 22 highly prospective potash prospecting permits approved by the BLM. Prior to this, exploration was restricted to the limited number of blocks on Utah State land.   

This allows the company to target the best widths and grades of Sylvinite within the 405 square kilometre project area.

The approval also opens the way for the company to progress to the feasibility study stage of the project.

The K2O Utah Potash Project is strategically located to serve the large US agricultural market and has substantial export potential given its proximity to key rail infrastructure leading to West Coast ports.

K20 is expected to be a large scale mine capable of producing 2 million tonnes of KCL per annum with the Scoping Study highlighting its robust economics and competitive cost structure.

Potash Minerals had $1.1 million in cash at the end of December 2012.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 29 Apr 2013 12:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133545/potash-minerals-secures-us-federal-permit-for-utah-potash-project-42572.html
<![CDATA[News - Potash Minerals has permitting update for K2O Utah potash project ]]> https://www.proactiveinvestors.com.au/companies/news/133544/potash-minerals-has-permitting-update-for-k2o-utah-potash-project-42512.html Potash Minerals (ASX: POK) is poised to announce a permitting update for the K2O Utah potash project, with the company's shares currently in pre-open following the ASX granting a trading halt.

Potash Minerals owns 90% of the project which covers 405 square kilometres of highly prospective potash permits in the Paradox basin of south eastern Utah.

The company's focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

A plus for the project is that U.S. Bureau of Land Management’s has approved the assignment of all leases to K2O Utah. In 2012 the Bureau also advised that all K2O federal lands are now designated a Non-Known Potash Leasing Area and therefore will not be subject to competitive bidding.

It is also located close to key agricultural regions of the U.S. and also has substantial export potential given its proximity to key rail infrastructure leading to West Coast ports.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 30th April 2013.

Potash Minerals had $1.1 million in cash at the end of December 2012.


Scoping Study defined project:

- Large scale mine, 2m tonnes per annum production of (KCL) Potash;
- Shows project has robust economics and competitive cost structure;
- Has strategic location close to markets, infrastructure and transportation; and
- Abundance gas, electricity, water and labour at hand.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 26 Apr 2013 12:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133544/potash-minerals-has-permitting-update-for-k2o-utah-potash-project-42512.html
<![CDATA[News - Potash Minerals' shares soar ]]> https://www.proactiveinvestors.com.au/companies/news/133543/potash-minerals-shares-soar-38480.html Potash Minerals (ASX: POK) shares soared 27% to $0.35 intra-day Friday - when compared to the closing price a day earlier - with the company receiving an ASX price and volume speeding ticket.

The company said that it is not aware of any material information that has not been released to the market.

Potash Minerals did state back to the ASX: 'The company notes however that as disclosed in previous announcements, the company expects to receive a decision record in regards to the Bureau of Land Management’s Environmental Assessment, which forms part of the permitting process for the Federal Permits, early in 2013.

'The company is advancing this process with the Bureau of Land Management and no further
information is currently available to the company.'


The Paradox Basin Potash Project

In the most recent quarterly (September 2012), Potash Minerals said at the company's 90% owned Paradox Basin Potash Project, that further progress has been made towards securing the project's maiden JORC Resource.

This resource is anticipated to include 45 drill holes. Drilling on state lands has been completed and drilling results analysed and released.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 21 Jan 2013 08:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133543/potash-minerals-shares-soar-38480.html
<![CDATA[News - Potash Minerals goes to the market ]]> https://www.proactiveinvestors.com.au/companies/news/133542/potash-minerals-goes-to-the-market-35300.html Potash Minerals (ASX: POK) is poised to release details about a capital raising and has been placed into an ASX trading halt.

The company is currently moving towards defining a maiden JORC Resource at its 90% owned Paradox Basin Potash Project in Utah.

This will cover the three holes it drilled on state land along with 38 historic oil and gas holes, one US government cored and assayed hole and data from 3 recently drilled Stone Energy holes.

It added the initial resource would only include the areas covered by state lease land.

Potash is also making progress on its application to drill on Federal land with the U.S. Bureau of Land Management’s initial 30 day public consultation period closing with just three comments that have since been addressed.

The BLM has released its Environmental Assessment and a final 30 day notice is underway prior to its issuing a Finding of No Significant Impact and the subsequent awarding of a federal drilling permit.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 5th November.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Fri, 02 Nov 2012 08:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133542/potash-minerals-goes-to-the-market-35300.html
<![CDATA[News - Potash Minerals on the road to potash JORC Resource at Paradox Basin Project ]]> https://www.proactiveinvestors.com.au/companies/news/133541/potash-minerals-on-the-road-to-potash-jorc-resource-at-paradox-basin-project--24318.html Potash Minerals (ASX: POK) has progressed drilling at State Hole #3 in the Paradox Basin Potash Project to 1,479.5 metres.

However, drilling has slowed due to subsurface conditions causing circulation losses and mechanical difficulties.

This is expected to last until the company reaches and cores Potash Bed 13, at 1,828.8 metres, expected to be in the coming week.

Potash Minerals’ 90%-owned Paradox Basin project covers applications for 365 square kilometres of potash permits in southeast Utah.

The company is drilling four exploratory wells to augment a database of historical drilling at the project which hosts an exploration target of 3.4 to 5.2 billion tonnes of sylvinite ore at 23% to 34% KCl.

This drilling program is designed to upgrade the Paradox Basin Potash Project’s exploration target into a JORC Resource.

Potash Minerals is focused on finding sylvinite, high grade potash ore which is cheaper and more effective to process to a saleable form than any other form of potash.

Paradox Basin is located close to key agricultural regions, meaning Potash Minerals is well placed to supply fertiliser manufacturers and agricultural cooperatives in the area.

In addition, close proximity to rail infrastructure leading to ports on the West Coast offers substantial export potential.

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Thu, 19 Jan 2012 09:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133541/potash-minerals-on-the-road-to-potash-jorc-resource-at-paradox-basin-project--24318.html
<![CDATA[News - Potash Minerals nears completion of third potash well, advances towards maiden JORC Resource in Utah ]]> https://www.proactiveinvestors.com.au/companies/news/133540/potash-minerals-nears-completion-of-third-potash-well-advances-towards-maiden-jorc-resource-in-utah-23448.html Potash Minerals (ASX: POK), fomerly Transit Holdings, is moving closer to delivering a maiden JORC Resource at the Paradox Basin Potash Project in Utah with drilling at State Hole #3 on schedule to be completed by the end of the December quarter despite challenging weather conditions.

The company is in the process of drilling four exploratory wells to augment a database of historical drilling at the project which hosts an exploration target of 3.4 to 5.2 billion tonnes of sylvinite ore at 23% to 34% KCl.

The program is designed to upgrade the Paradox Basin Potash Project’s exploration target into a JORC Resource.

Importantly, Potash’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Earlier this month, the company announced preliminary results from gamma logs from State Hole #2 including:

Potash Bed 13 – 2.9 metres at 22.2% KCl (13.9% K2O) & 2.7m at 11.7% KCl (7.3% K2O);
 - Potash Bed 18 Upper – 6.7m at 17.3% KCl equivalent (10.8% K2O); and
 - Potash Bed 18 Lower – 0.3m at 2.2 KCl (1.4% K2O).
 
The Potash Bed 13 intersection in State Hole #2 provides encouragement to the company as it suggests the possibility of mineable potash in this bed area.

State Hole #3 is being drilled closer to the central part of the project area, where prior oil and gas drilling identified the best potash mineralisation and seismic analysis shows Bed 18 stratigraphy at a mineable depth.

The nearest historic holes to State Hole #3, located approximately 8 to 10 kilometres to the west and southwest in the Gibson Dome area, show attractive potash mineralisation.

Drilling of State Hole #3 began in late November and the hole is now almost one‐third complete, with the demonstration of good intersections of Potash having the potential to open up an additional area of potash mineralisation at the project.

In addition to completing its four well drilling program on State Land during 2012, Potash expects to obtain federal permits in the second quarter of 2012 to enable drilling on the company’s Federal Land targets.

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Wed, 14 Dec 2011 15:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133540/potash-minerals-nears-completion-of-third-potash-well-advances-towards-maiden-jorc-resource-in-utah-23448.html
<![CDATA[News - Potash Minerals' State Hole #2 well reveals potash over wide area at Paradox Basin ]]> https://www.proactiveinvestors.com.au/companies/news/133539/potash-minerals-state-hole-2-well-reveals-potash-over-wide-area-at-paradox-basin-22868.html Potash Minerals (ASX: POK), fomerly Transit Holdings has completed the drilling of State Hole #2 at a total depth of 6,755 feet (2,059 metres) and has cored potash in both Beds 13 and 18 at the Paradox Basin Potash Project in Utah.

Together with the results from State Hole #1, the drilling provides the company with confidence in the presence of potash over a wide area of the project.  The first two state holes covers only a small portion of the 365 square kilometres in the project.

Preliminary results from gamma logs from State Hole #2 include:

- Potash Bed 13 - 2.9 metres at 22.2% KCl (13.9% K2O) & 2.7m at 11.7% KCl (7.3% K2O);
- Potash Bed 18 Upper – 6.7m at 17.3% KCl equivalent (10.8% K2O); and
- Potash Bed 18 Lower – 0.3m at 2.2 KCl (1.4% K2O).

The Potash Bed 13 intersection in State Hole #2 provides encouragement to the company as it suggests the possibility of mineable potash in this bed area.

Transit is in the process of drilling four exploratory wells to augment a database of historical drilling at the project which hosts an exploration target of 3.4 to 5.2 billion tonnes of sylvinite ore at 23% to 34% KCl. The program is designed to upgrade the Paradox Basin Potash Project’s exploration target into a JORC Resource.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

The drill rig has now been moved and State Hole #3 has been spudded. The demonstration of good intersections of Potash in State Hole #3 has potential to open up another area of potash mineralization.

The company recently executed a Memorandum of Understanding (MOU) with the United States Bureau of Land Management (BLM) to facilitate drilling a further four holes on Federal lands and to expand resources across both Federal and State land holdings.

The Potash Bed 18 intersections were less than those intersected in some historic holes to the west. Beds are a mixture of sylvinite and carnallite in this particular location.

Assay results have now been received from State Hole #1 and these results showed potash in Beds 13 and 18, although no beds returned above 6.4% KCl equivalent grade.  Results correlated well with the gamma logs but until further drilling has been undertaken the company deems this area to be a lower priority.

The company and joint venture partner, K2O Utah LLC, are conducting the drill campaign as part of the project’s Pre–Feasibility Study.

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Thu, 01 Dec 2011 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133539/potash-minerals-state-hole-2-well-reveals-potash-over-wide-area-at-paradox-basin-22868.html
<![CDATA[News - Transit Holdings drilling ahead in State Hole #2 well at Paradox Basin Potash Project in Utah ]]> https://www.proactiveinvestors.com.au/companies/news/133538/transit-holdings-drilling-ahead-in-state-hole-2-well-at-paradox-basin-potash-project-in-utah-22338.html Transit Holdings (ASX: TRH) has drilled the State Hole #2 well at the Paradox Basin Potash Project in Utah to a depth of 1817 metres (6,051 feet), reaching Bed 13.

Coring and analysis of the cores has commenced and the company now plans complete the coring of Bed 13.
Drilling operations will then resume down to about 2030 metres (6,700 feet) to Bed 18 to complete the coring operations.

Transit is in the process of drilling four exploratory wells to augment a database of historical drilling at the project which hosts an exploration target of 3.4 to 5.2 billion tonnes of sylvinite ore at 23% to 34% KCl.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Transit expects to have a JORC Resource after drilling the four holes and the analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are conducting the drill campaign as part of the project’s Pre–Feasibility Study.

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Mon, 21 Nov 2011 14:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133538/transit-holdings-drilling-ahead-in-state-hole-2-well-at-paradox-basin-potash-project-in-utah-22338.html
<![CDATA[News - Transit Holdings seeks drilling approval for potash project in Utah ]]> https://www.proactiveinvestors.com.au/companies/news/133537/transit-holdings-seeks-drilling-approval-for-potash-project-in-utah-21798.html Transit Holdings (ASX: TRH) has submitted its Exploration Plan for drilling four new potash exploration holes on Federal lands on the Paradox Basin Potash Project in Utah.

The plan was sent to the United States Bureau of Land Management (BLM) on November 8, 2011 by Transit's 90% owned joint venture vehicle K2O Utah LLC.

This followed the Memorandum of Understanding (MOU) executed with BLM on October 13 concerning exploration for potash on Federal lands.

The submission was made in accordance with the six month schedule provided in the MOU.

A highly anticipated drilling program has already commenced at the Paradox Basin Potash Project which hosts an exploration target of 3.4 to 5.2 billion tonnes of sylvinite ore at 23% to 34% KCl.

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Wed, 09 Nov 2011 11:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133537/transit-holdings-seeks-drilling-approval-for-potash-project-in-utah-21798.html
<![CDATA[News - Transit Holdings eyes 5Bt potash target from drilling in Paradox Basin ]]> https://www.proactiveinvestors.com.au/companies/news/133536/transit-holdings-eyes-5bt-potash-target-from-drilling-in-paradox-basin-19749.html Transit Holdings (ASX: TRH) is moving towards delineating a JORC Resource at the company's Paradox Basin Potash Project, which is located in Utah U.S.

The highly anticipated drilling program has already commenced, with the project hosting an exploration target of 3.4 to 5.2 billion tonnes of sylvinite ore at 23% to 34% KCl.

Transit is expecting to complete the first hole to a depth of 1970 metres (6,500 feet) in around one month.

Once the first hole has been completed, Transit will then drill another three holes over coming months.

The drilling is targeted to collect core samples of the potash horizons, which the company said is likely to confirm the presence of potash which has previously been detected by gamma logging of petroleum wells.

The outcome of the drilling is the information will then be used for the estimation of the project's maiden JORC Resource.


Potash produced nearby

Boosting the prospectivity of the project, is that New York-listed Intrepid Potash Inc (IPI: NYSE) successfully produced potash from solution mining just 10 kilometres to the north of Transit’s project.

This highlights that there is room for optimism for the potential of Transit's project, due to the location in the sought after position within the basin - with other major positives such as close proximity to quality infrastructure, flat topography and flat lying potash beds.


Some history

Right-of-Way access was recently granted for the Utah project by the Bureau of Land Management to access State leasing blocks.

In June this year Transit was granted approval to commence a maiden potash focused drill campaign at the joint venture project - with the approval received within just two months of filing the application

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

The drill campaign follows a Scoping Study completed by the joint venture based on two million tonnes per annum production of KCl (potassium oxide) from solution mining of the potash deposit.

The study demonstrated the project has robust financials.

The project covers applications for 386 square kilometres of prospective potash permits, with infrastructure nearby because of surrounding gas fields

 

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Mon, 19 Sep 2011 08:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133536/transit-holdings-eyes-5bt-potash-target-from-drilling-in-paradox-basin-19749.html
<![CDATA[News - Transit Holdings 25% price spike prompts ASX price and volume query ]]> https://www.proactiveinvestors.com.au/companies/news/133535/transit-holdings-25-price-spike-prompts-asx-price-and-volume-query-19225.html Transit Holdings (ASX: TRH) received a price and volume 'please explain' from the ASX following a 24% jump to $1.065 in intra-day trading yesterday, up from $0.85 on the previous trading day.

Transit said it is not aware of any information that has not been announced which could explain the sudden interest, but did however state:

"The company believes that the recent increase in the share price and volume could be as a result of a number of factors which could include:

- The company is aware of a publication by Diggers and Drillers which details the company's prospects and recommends a trading decision in relation to TRH securities.

- The company recently conducted a broker site visit to its U.S. project, which has refocussed interest in the company's assets."

Transit is commencing its much anticipated  drilling program this month at the Paradox Basin Potash project in Utah, USA, and has contracted an additional land drilling rig with Frontier Drilling.

Transit expects drilling to spud the first well in September 2011.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Transit expects to have a JORC Resource after drilling the four holes and the analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are currently preparing the budget and initial drill campaign as part of the project’s Pre–Feasibility Study.

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Fri, 02 Sep 2011 14:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133535/transit-holdings-25-price-spike-prompts-asx-price-and-volume-query-19225.html
<![CDATA[News - Transit Holdings gets set to drill Paradox Basin Potash project ]]> https://www.proactiveinvestors.com.au/companies/news/133534/transit-holdings-gets-set-to-drill-paradox-basin-potash-project-18561.html Transit Holdings (ASX: TRH) will shortly commence its much anticipated  drilling program at the Paradox Basin Potash project in Utah, USA, and has contracted an additional land drilling rig with Frontier Drilling.

Transit expects drilling to spud the first well in September 2011.

Frontier Drilling is a private land drilling contractor headquartered in Denver, Colorado and Oklahoma City, Oklahoma operating predominantly in the Rocky Mountain region.

Transit has already executed a contract with Sabine Storage & Operations, Inc., a Houston-based engineering company that has successfully drilled in North and South America in formations such as the company's exploration target in the Paradox basin.

Transit was granted approval from the U.S. state of Utah to commence a maiden potash focused drill campaign at the joint venture Paradox Basin Potash project in June.

The approval was received within two months of filing the application and drilling will begin shortly, consisting of four exploratory wells to augment a database of historical drilling.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Transit expects to have a JORC Resource after drilling the four holes and the analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are currently preparing the budget and initial drill campaign as part of the project’s Pre–Feasibility Study.

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Thu, 11 Aug 2011 10:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133534/transit-holdings-gets-set-to-drill-paradox-basin-potash-project-18561.html
<![CDATA[News - Transit Holdings steps into big leagues with potash exploration target of 5Bt in Utah ]]> https://www.proactiveinvestors.com.au/companies/news/133533/transit-holdings-steps-into-big-leagues-with-potash-exploration-target-of-5bt-in-utah-17728.html Transit Holdings (ASX: TRH) has increased the total potash JORC exploration target estimate for the Paradox Basin Potash Project, Utah, to 3.4 to 5.2 billion tonnes of sylvinite ore at an average grade of 23% to 34% KCl.

The upgrade was confirmed by Transit's specialist consultants, Agapito Associates, Inc.

With New York-listed Intrepid Potash Inc (IPI:NYSE) successfully producing potash from solution mining just 10 kilometres to the north of Transit’s Project, there is room for optimism for the potential of Transit's producing potential at Paradox Basin.

Chairman of Transit Holdings Ananda Kathiravelu told Proactive Investors today, "My view is that we have a massive resource that seems to get bigger the more we look."

"The initial drilling will concentrate on the best areas to demonstrate what we believe are the tonnes and grade."

Kathiravelu said, "With further drilling we hope to expand the resource target.  The resource target is believed to be large enough to utilize only a small percent to develop a world class mine therefore ultimately this will result in better economics and greater market value."

Right-of-Way access was recently granted for the Utah project by the Bureau of Land Management to access State leasing blocks.

Previously the exploration target for the company's 90%-owned U.S. potash asset was from 2.5 to 3.8 billion tonnes of sylvinite ore at an average grade of 19% to 29% KCl.

In June Transit was granted approval from the U.S. state of Utah to commence a maiden potash focused drill campaign at the joint venture Paradox Basin Potash project.

The approval was received within two months of filing the application and drilling will begin in July or August, consisting of four exploratory wells to augment a database of historical drilling.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Transit expects to have a JORC Resource after drilling the four holes and the analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are currently preparing the budget and initial drill campaign as part of the project’s Pre–Feasibility Study.

The drill campaign follows a Scoping Study completed by the joint venture based on two million tonnes per annum production of KCl (potassium oxide) from solution mining of the potash deposit. The study demonstrated the project has robust financials.

The joint venture will shortly begin working on approvals to drill on federal land to further delineate the resource.

The project covers applications for 386 square kilometres of prospective potash permits in the Paradox Basin in southeast Utah and the project is in close proximity to infrastructure because of surrounding gas fields.

The company said increased quantity and grade of the exploration target was attributed to:

- Improving the land position by adding another area richer in sylvinite while eliminating an area which was not as attractive; and
- The addition of data from Whiting Petroleum’s Threemile 43-18H hole and several historical holes which confirm bed continuity extending several miles south and southeast of the property.

Comment

Transit’s potash project is located in a sought-after position within the Paradox Basin and, can tick off a number of boxes including, close proximity to quality infrastructure, flat topography, flat lying potash beds and a high grade sylvinite target.

Transit appears undervalued when compared with other potash companies based on a possible Resource for Transit from the initial 4 holes.

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Fri, 08 Jul 2011 09:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133533/transit-holdings-steps-into-big-leagues-with-potash-exploration-target-of-5bt-in-utah-17728.html
<![CDATA[News - Transit Holdings chairman boosts stake by 50,000 shares ]]> https://www.proactiveinvestors.com.au/companies/news/133532/transit-holdings-chairman-boosts-stake-by-50000-shares-17487.html Transit Holdings (ASX: TRH) chairman Ananda Kathiravelu has increased his indirect stake in the company with an on-market trade.

Kathiravelu purchased 50,000 for a consideration of $26,875, for an average entry price of around $0.54.

Transit is currently in a very interesting exploration position, and earlier in the month was granted approval from the U.S. state of Utah to commence a maiden potash focused drill campaign at the joint venture Paradox Basin Potash project.

The approval was received within two months of filing the application and drilling will begin in July or August, consisting of four exploratory wells to augment a database of historical drilling.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Transit expects to have a JORC Resource after drilling the four holes and the analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are currently preparing the budget and initial drill campaign as part of the project’s Pre–Feasibility Study.

The drill campaign follows a Scoping Study completed by the joint venture based on two million tonnes per annum production of KCl (potassium oxide) from solution mining of the potash deposit. The study demonstrated the project has robust financials.

The exploration target at the project is 2.3 billion tonnes of sylvinite potash ore grading at 32.8% KCl.

The exploration target assumes a grade thickness cut-off of 20% K2O per metre (grade by thickness), below which mineralisation is excluded from the estimate.

The joint venture will begin working on approvals to drill on federal land to further delineate the resource.

Transit holds a 90% stake in the project with K2O Utah LLC holding the remaining interest.

The project covers applications for 386 square kilometres of prospective potash permits in the Paradox Basin in southeast Utah and the project is in close proximity to infrastructure because of surrounding gas fields.

 

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Wed, 29 Jun 2011 13:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133532/transit-holdings-chairman-boosts-stake-by-50000-shares-17487.html
<![CDATA[News - Transit Holdings to raise up to A$9.5m to fund potash exploration ]]> https://www.proactiveinvestors.com.au/companies/news/133531/transit-holdings-to-raise-up-to-a95m-to-fund-potash-exploration-17210.html Transit Holdings (ASX: TRH) will raise up to A$9.5 million to fund exploration activities, with a placement to be completed in two tranches.

Tranche one is 6.6 million shares to be issued at $0.56, with tranche two of 11.4 million shares subject to shareholder approval.

Transit's maiden drilling program is scheduled to commence in August at the Paradox Basin Potash project in Utah, U.S., with the company placing an exploration target of 2.5 to 3.8 billion tonnes at the project.

 

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Fri, 17 Jun 2011 10:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133531/transit-holdings-to-raise-up-to-a95m-to-fund-potash-exploration-17210.html
<![CDATA[News - Transit Holdings in pre-open pending capital raising announcement ]]> https://www.proactiveinvestors.com.au/companies/news/133530/transit-holdings-in-pre-open-pending-capital-raising-announcement-17135.html Transit Holdings (ASX: TRH) has been granted a trading halt by the ASX pending a capital raising announcement, with the company's shares placed in pre-open.

Transit has not yet indicated where the potential funding injection will be allocated, but earlier in the month the company boosted the exploration target for the Paradox Basin Potash project in Utah to 2.5 to 3.8 billion tonnes.

In relation to the project, Transit said that potash beds 13 and 18 potentially host sylvinite ore with an average grade 19% to 29% KCl (potassium oxide).

Sylvinite is a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

The exploration target assumes a grade–thickness cut–off of 32% KCl–m, below which mineralisation is excluded from the estimate.

The exploration target was estimated by consultants Agapito Associates.

The state of Utah has already granted the company approval to commence a maiden drill campaign at the project.

 

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Wed, 15 Jun 2011 09:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133530/transit-holdings-in-pre-open-pending-capital-raising-announcement-17135.html
<![CDATA[News - Transit Holdings increases potash exploration target at Paradox Basin in Utah to 3.8Bt ]]> https://www.proactiveinvestors.com.au/companies/news/133529/transit-holdings-increases-potash-exploration-target-at-paradox-basin-in-utah-to-38bt--16985.html Transit Holdings (ASX: TRH) has upgraded the sylvinite ore exploration target for the Paradox Basin Potash project in Utah to 2.5–3.8 billion tonnes.

Potash beds 13 and 18 at the project potentially host sylvinite ore with an average grade 19% to 29% KCl (potassium oxide) delineated within the project.

Sylvinite is a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

The exploration target assumes a grade–thickness cut–off of 32% KCl–m, below which mineralisation is excluded from the estimate.

The exploration target was estimated by consultants Agapito Associates.

The state of Utah granted the company approval to commence a maiden drill campaign at the joint venture project earlier this week.

The approval was received within two months of filing the application and drilling will begin in July or August, consisting of four exploratory wells to augment a database of historical drilling.

Transit expects to have a JORC Resource after drilling the four holes and receiving analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are currently preparing the budget and initial drill campaign as part of the project’s Pre–Feasibility Study. Transit holds a 90% stake in the project with K2O Utah LLC holding the remaining interest.

The project covers applications for 386 square kilometres of prospective potash permits in the Paradox Basin in southeast Utah and, importantly, the project is in close proximity to infrastructure because of surrounding gas fields.

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Thu, 09 Jun 2011 09:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133529/transit-holdings-increases-potash-exploration-target-at-paradox-basin-in-utah-to-38bt--16985.html
<![CDATA[News - Transit Holdings granted approval to begin potash drilling in Utah ]]> https://www.proactiveinvestors.com.au/companies/news/133528/transit-holdings-granted-approval-to-begin-potash-drilling-in-utah-16919.html Transit Holdings (ASX: TRH) has been granted approval from the U.S. state of Utah to commence a maiden drill campaign at the joint venture Paradox Basin Potash project.

The approval was received within two months of filing the application and drilling will begin in July or August, consisting of four exploratory wells to augment a database of historical drilling.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Transit expects to have a JORC Resource after drilling the four holes and the analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are currently preparing the budget and initial drill campaign as part of the project’s Pre–Feasibility Study.

The drill campaign follows a Scoping Study completed by the joint venture based on two million tonnes per annum production of KCl (potassium oxide) from solution mining of the potash deposit. The study demonstrated the project has robust financials.

The exploration target at the project is 2.3 billion tonnes of sylvinite potash ore grading at 32.8% KCl.

The exploration target assumes a grade thickness cut-off of 20% K2O per metre (grade by thickness), below which mineralisation is excluded from the estimate.

The joint venture will begin working on approvals to drill on federal land to further delineate the resource.

Transit holds a 90% stake in the project with K2O Utah LLC holding the remaining interest.

The project covers applications for 386 square kilometres of prospective potash permits in the Paradox Basin in southeast Utah and, importantly, the project is in close proximity to infrastructure because of surrounding gas fields.

The identification of substantial subterranean aquifers and opportunities to capture seasonal snowmelt provides confidence in the availability of water for the project, to add to an impressive suite of infrastructure in the region.

Paradox Basin is strategically located close to key agricultural regions of the U.S. and as such is ideally situated to supply fertiliser manufacturers and agricultural cooperatives in the western and southwest regions of the country.

Currently 85% of potash requirements are imported into the U.S., highlighting the domestic demand for potash.

Given its proximity to key U.S. rail infrastructure leading to West Coast ports, the project also has substantial export potential.



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Tue, 07 Jun 2011 13:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133528/transit-holdings-granted-approval-to-begin-potash-drilling-in-utah-16919.html
<![CDATA[News - Transit Holdings boosts stake in Paradox Basin potash JV in Utah to 90% ]]> https://www.proactiveinvestors.com.au/companies/news/133527/transit-holdings-boosts-stake-in-paradox-basin-potash-jv-in-utah-to-90-16877.html Transit Holdings (ASX: TRH) has increased its holding in the Paradox Basin Potash Project in Utah to 90% from 75% following confirmation that Transit’s partner K2O Utah LLC has satisfied expenditure commitments.

The joint venture (JV) is currently preparing the program and budget for an initial drill campaign that will include the drilling of four exploratory wells on the State lease locations as part of the project’s Pre-Feasibility Study.

The drill campaign follows a positive Scoping Study based on 2 million tonnes per annum production of KCl (potassium chloride) from solution mining of the potash deposit.

The study indicates robust financials for the project, with the financial model showing significant potential value on a net present value basis and potential for an attractive internal rate of return.

In addition, the project is in close proximity to infrastructure because of surrounding gas fields.

An exploration target of 2.3 billion tonnes of sylvinite potash ore at 20% to 30% KCl  has been delineated.

The exploration target assumes a grade thickness cut-off of 20% K2O per metre (grade by thickness), below which mineralisation is excluded from the estimate.

The company intends to file an application to the Federal Government agency by the end of the June quarter, as it plans to drill a further program of exploration wells on Federal government land administered by the Bureau of Land Management.

Currently 85% of potash requirements are imported into the U.S., highlighting the domestic demand for potash.

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Mon, 06 Jun 2011 14:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133527/transit-holdings-boosts-stake-in-paradox-basin-potash-jv-in-utah-to-90-16877.html
<![CDATA[News - Transit Holdings to create new coal company, shareholders to gain entitlement ]]> https://www.proactiveinvestors.com.au/companies/news/133526/transit-holdings-to-create-new-coal-company-shareholders-to-gain-entitlement-16029.html Transit Holdings (ASX: TRH) has targeted $250,000 in seed capital to create a new coal exploration company, Monomotopa Coal Limited. 

MCL intends to issue up to 2,500,000 shares as seed capital at A$0.10 per share to raise $250,000 prior to making a Priority Entitlement Offer to TRH shareholders to complete the seed capital offering.

The Entitlement Offer will allow Transit sharehoders the right to purchase 1 share in the new coal company for every 3 Transit shares they own, at a seed capital offering at A$0.10 per share at the record date of 16 May 2011. 

Transit shareholder will be able to participate in the early stage of funding for Monomotopa.

Monomotopa will target coal investment opportunities in Africa, Europe and other locations with the intention to acquire prospective coal projects.

Hugh Callaghan will be appointed as chief executive officer of Monomotopa, and has worked as managing director at Riversdale Mining (ASX: RIV) and was instrumental in positioning Transit for advancement at the company’s North American potash assets.

Monomotapa will consider listing on the ASX or TSX in the immediate term and advising shareholders in due course.

The subscription will be conditional on subscribers signing a one year escrow agreement.

Transit will concentrate on developing the company's core potash assets in North America looking to build shareholder value in a new vehicle with a different commodity and regional focus following the success of the Radar Iron (ASX: RAD) spin-out.

 

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Fri, 06 May 2011 10:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133526/transit-holdings-to-create-new-coal-company-shareholders-to-gain-entitlement-16029.html
<![CDATA[News - Transit Holdings receives milestone permit in Paradox Basin Potash Project to drill 5 wells ]]> https://www.proactiveinvestors.com.au/companies/news/133525/transit-holdings-receives-milestone-permit-in-paradox-basin-potash-project-to-drill-5-wells-15604.html Transit Holdings (ASX: TRH) has been granted a Right of Way permit over Federal Land, to access and drill State Lease Blocks in Utah, USA.

This will effectively provide Transit with a progression to define an initial JORC/NI43-101 resource.

The permit covers five exploration wells, with Transit already estimating a substantial exploration target of 2.3 billion tonnes of sylvinite at an average grade of 20.8% K2O (32.8% KCI).

Transit has earned 90% of a joint venture covering potash rights over 390 square kilometres at the Paradox Basin Project, which is in close proximity to infrastructure because of surrounding gas fields.

High grade sylvinite is prized among potash explorers which imbues Transit's project with a number of advantages.

The company intends by the end of the June quarter to file an application to the Federal Government agency, to drill a further program of exploration wells on Federal government land administered by the Bureau of Land Management.

This program will complete a very significant exploration and resource delineation exercise now underway.

Highlighting the domestic demand for potash in the USA, currently 85% of potash requirements are imported.

 

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Tue, 19 Apr 2011 09:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133525/transit-holdings-receives-milestone-permit-in-paradox-basin-potash-project-to-drill-5-wells-15604.html
<![CDATA[News - Transit Holdings in a trading halt pending potash approval announcement ]]> https://www.proactiveinvestors.com.au/companies/news/133524/transit-holdings-in-a-trading-halt-pending-potash-approval-announcement-15571.html Transit Holdings (ASX: TRH) has been granted a trading halt by the ASX, pending a potash project approval announcement.

Transit has not yet indicated which potash project the announcement refers to, but last week in response to an ASX price and volume speeding ticket said:

'However, the company refers to the fact that it expects to receive a Right of Way over Federal land to access drill sites in state lease blocks.'

Transit has earned 90% of a JV covering potash rights over 390 square kilometres at the Paradox Basin Project in Utah, U.S.

A Right of Way over Federal Land to access and drill 4 lease blocks - would provide Transit with a progression to define an initial JORC/NI43-101 resource.

The Paradox Basin Project, which is in close proximity to infrastructure because of surrounding gas fields has a massive exploration target of 2.3 billion tonnes sylvinite at 32.8% KCI.

High grade sylvinite is prized among potash explorers which imbues Transit's project with a number of advantages.

Interestingly, 85% of U.S. potash requirements are imported.

 

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Mon, 18 Apr 2011 10:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133524/transit-holdings-in-a-trading-halt-pending-potash-approval-announcement-15571.html
<![CDATA[News - Transit Holdings shows the way with U.S. potash project and share price gain ]]> https://www.proactiveinvestors.com.au/companies/news/133523/transit-holdings-shows-the-way-with-us-potash-project-and-share-price-gain-15508.html Potash focused Transit Holdings' (ASX: TRH) share price led a merry jig today with a 55% share spike to $0.75 in intra-day trading, up from the close of $0.485 yesterday, prompting a ASX price and volume query.

The company said there was no material information that had not been released that would explain the gain.

In a response to the ASX, Transit did state, 'However, the company refers to the fact that it expects to receive a Right of Way over Federal land to access drill sites in state lease blocks.'

Transit has earned 90% of a JV covering potash rights over 390 square kilometres at the Paradox Basin Project in Utah, U.S.A.

A Right of Way over Federal Land to access and drill 4 lease blocks - would provide Transit with a progression to define an initial JORC/NI43-101 resource.

The Paradox Basin Project, which is in close proximity to infrastructure because of surrounding gas fields has a massive exploration target of 2.3 billion tonnes sylvinite at 32.8% KCI.

High grade sylvinite is prized among potash explorers which imbues Transit's project with a number of advantages.

Interestingly, 85% of U.S. potash requirements are imported.

Relative to peers, and valuation to resource, Transit Holdings has significant upside potential.

 

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Thu, 14 Apr 2011 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/133523/transit-holdings-shows-the-way-with-us-potash-project-and-share-price-gain-15508.html
<![CDATA[News - Transit Holding defines large potash ore exploration target for 2009 ]]> https://www.proactiveinvestors.com.au/companies/news/133522/transit-holding-defines-large-potash-ore-exploration-target-for-2009-0960.html Transit Holdings (ASX:TRH) has announced an initial JORC code compliant Exploration Target on the Paradox Basin Potash Project.

Transit’s Paradox Basin Potash Project comprises potash mineralisation in two beds of interest, Potash 13 and Potash 18, ranging in depth from approximately 1,000 to 2,000 meters below the surface.

The Exploration Target range for Potash 13 is 0.9 to 1.3 billion tonnes of sylvinite (KCl-rich potash ore) at an average grade of 10 to 15% K2O. The Exploration Target range for Potash 18 is 1.6 to 2.5 billion tonnes of sylvinite at an average grade of 13% to 19% K2O.

This amounts to an overall Exploration Target range for the two Potash beds of 2.5 to 3.8 billion tonnes of sylvinite at an average grade of 12 to 18% K2O.

Exploration Target

The Exploration Target was estimated by Agapito Associates Inc who have extensive experience in potash projects. Agapito has completed studies on a number of major potash projects including feasibility plans for solution mining Vale’s Potassio Rio Colorado potash deposits in Mendoza Provence, Argentina.

The Potash sector continues to perform well as evidenced by continuing high prices and the recent spate of corporate activity globally. Recently Rio Tinto sold it potash interests to Vale for cash consideration totaling US$850million. In addition BHP Billiton acquired Anglo Potash Ltd (TSXV:AGP) for C$284 million. As recently as February this year Soros Fund Management LLC invested U$200million to increase its holding in Potash Corp (TSX/NYSE:POT) the world’s largest potash producer.

This week Transit obtained shareholder approval for the acquisition of 100% of Citadel Potash Pty Ltd which has the right to earn a 75% interest in the Paradox Basin Potash Project. The acquisition of the Project is now unconditional and will be completed in the coming weeks.

Transit intends to fast track the grant of the Prospecting Permit Applications covering the Paradox Basin Potash Project as well as advancing other aspects of the project.

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Thu, 05 Mar 2009 00:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/133522/transit-holding-defines-large-potash-ore-exploration-target-for-2009-0960.html