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Passport Potash (TSXV:PPI,OTCQX:PPRTF) announced that in furtherance to the News Release of October 25, 2011 Passport is now able to provide greater detail regarding the terms of the letter of intent entered into with NZ Potash.
As quoted in the press release:
The letter of intent is subject to certain material contingencies, including a right of first refusal by the other 50% shareholder in HNZ Potash Inc. Although Passport intends to pursue joint developments of their potash properties in the Holbrook Basin upon acquiring the proposed 50% interest, no formal agreements have yet been reached with HNZ.
Click here to read the full Passport Potash (TSXV:PPI,OTCQX:PPRTF) press release.
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