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Potash Ridge Corporation (TSX:PRK,OTCQX:POTRF) announced financial results from the fourth quarter and year-end. The Company also announced anticipated milestones for 2014, such as signing of commercial arrangements and potential offtake agreements, as well as various permits and a feasibility study.
As quoted in the press release:
The Corporation ended 2013 with $8.0 million of cash. This cash will allow the Corporation to continue the majority of its ongoing initiatives throughout 2014 and beyond. Additional capital will, however, be required before the feasibility study can commence. A number of strategies to raise this additional capital are currently being pursued. The Corporation is targeting to raise approximately US$25 million for the feasibility study and for nearer term working capital requirements. The Corporation currently expects that this additional funding will bring the development of the Project to the beginning of the execution phase and the commencement of detailed engineering, assuming receipt of a positive feasibility study.
Click here to read the Potash Ridge Corporation (TSX:PRK,OTCQX:POTRF) press release
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