TSX-V: EPO
VANCOUVER, Aug. 1, 2018 /CNW/ - Encanto Potash Corp.
("Encanto") (TSX-V: EPO) and the Muskowekwan First Nation are very
pleased to announce that they have engaged Hatch Engineering
("Hatch") for the next step in their plan towards the construction
target of a significant potash mine in the 4th Quarter
2019. With the financial support of the Government of
Canada via funding through
Indigenous Services Canada (please refer to the Company's press
release dated July 23, 2018), the
Company is quickly moving forward with the upcoming engineering
steps of the Muskowekwan Potash Project.
Hatch will perform a value engineering analysis in efforts to
lower the project's total Capex, with results expected in
4th Quarter 2018. Chief Operating Officer Richard Lively stated, "I have worked with
numerous projects both in Canada
and globally and as a result of that practical experience in design
and operations, combined with what we know about the property
geologically, I believe that there is substantial potential that
the Capex and Opex can be reduced."
Lively continued, "I have been involved with Hatch on other
projects and feel very confident in having them join Encanto for
the Value Engineering study that will help define these cost
reductions while adding value to our project." Hatch will be
completing this study to re-evaluate our projected costs and define
our next step towards detailed design
engineering. Hatch has been granted a new patent for
potash and mineral salt pond crystallization—the only filed patent
that has been validated to increase production over the
"conventional wisdom" approach that is typically used today. This
new technology is anticipated to reduce costs and increase
production.
Hatch has a demonstrated history of completing projects on time
and on budget. Lively states, "In my experience working with Hatch
in the past, they cater to the clients specific needs and strive to
lower costs and increase the quality of the project to deliver true
value for all stakeholders. Hatch has experience in many successful
potash projects which instills our complete confidence in
them. We are very pleased to have Hatch on board and we look
forward to having their potash expertise which will guide us
together through the next steps as we plan to develop the next
generation of potash mines in Saskatchewan."
About Hatch
Whatever our clients envision, our teams
can design and build. With over six decades of business and
technical experience in the mining, energy, and infrastructure
sectors, we know your business and understand that your challenges
are changing rapidly. We respond quickly with solutions that
are smarter, more efficient and innovative. We draw upon our 9,000
staff with experience in over 150 countries to challenge the status
quo and create positive change for our clients, our employees, and
the communities we serve.
Our diverse teams combine vast engineering and business
knowledge, working in partnership with our clients to develop
market strategies, manage and optimize production, develop new
game-changing technologies, and design and deliver complex capital
projects.
We work closely with the communities in which we serve to ensure
that our solutions optimize environmental protection, economic
prosperity, social justice, and cultural vibrancy. We want their
businesses, ecosystems, and communities to thrive, both now and
into the future. http://www.hatch.com
About Encanto Potash Corp.
Encanto Potash Corp. is a
TSX Venture Exchange listed and traded Canadian Resource Company
engaged in the development of potash properties in the Province of
Saskatchewan, Canada, the largest
producing potash region in the world. Through a joint venture
agreement with Muskowekwan Resources Ltd, Encanto has secured a
project land package which totals approximately 61,000 largely
contiguous acres. Pre-Feasibility Study dated February 28, 2013 titled "Encanto Potash Corp.
Technical Report Summarizing the Preliminary Feasibility Study for
the Muskowekwan First Nations Home Reserve Project in South Eastern
Saskatchewan, Canada" confirms the Proven and Probable KCI Reserves
totaling 162 Mt grading 28% KCl (average) which supports primary
and secondary mining for over 50 years at an assumed annual rate
extraction rate of 2.8 Mt of MOP. The PEA dated May 24, 2017 titled " NI 43-101 Technical Report
on a Preliminary Economic Assessment and Preliminary Feasibility
Study of the Muskowekwan Potash Project, South-Eastern
Saskatchewan, Canada" summarizes an alternative development option
that supports primary and secondary mining of the Mineral Resources
for 48 years at an annual extraction rate of 3.4 Mt of MOP. On
December 30, 2016, Encanto signed a
20-year off-take agreement with the National Federation of
Farmers' Procurement, Processing, and Retailing Cooperatives of
India Ltd., (NACOF) registered under the Ministry of Agriculture,
Government of India to supply 5
million metric tons a year of potash.
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TO RECEIPT OF REGULATORY APPROVALS; DELAYS IN STAKEHOLDER
NEGOTIATIONS; CHANGES IN REGULATIONS APPLYING TO THE DEVELOPMENT,
OPERATION, AND CLOSURE OF MINING OPERATIONS FROM WHAT CURRENTLY
EXISTS; THE EFFECTS OF COMPETITION IN THE MARKETS IN WHICH ENCANTO
OPERATES; AND OPERATIONAL AND INFRASTRUCTURE RISKS. ALTHOUGH
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SOURCE Encanto Potash Corp.