This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

PGRX Permit Update: Q&A Regarding Its Newly Granted Air Permit

Prospect Global Resources Inc. (NASDAQ: PGRX) (“Prospect Global” or the “Company”) previously announced that it has received its Air Quality Control Permit (“Air Permit”) for the construction and operation of a 2.2 million ton per annum underground potash mine and surface processing facilities from the Arizona Department of Environmental Quality (“ADEQ”).

The Company comments:

What is the significance of the Air Permit?

For a mine of this type, this is one of the most difficult permits to obtain for a project of our magnitude. To our knowledge, we stand alone amongst US greenfield Potash projects by obtaining this Air Permit.

How does this differentiate PGRX from other Potash miners?

On a global basis, in our opinion, this puts our Holbrook project at the forefront of greenfield mines to come into production.

How did this process compare to a federal process?

In Arizona, the EPA has delegated its authority to ADEQ with respect to minor source air permits such as this one. Given the design of the project and a commitment to reduced emissions, this allowed us to save a significant amount of time over a typical permitting process.

Where does this position the Company from here?

As is typical for most mining companies, major permitting is always seen as a major cost and schedule driver. In our view this removes much of the permitting risk as this permit is often seen to complicate other projects’ developments.

What other permits are on the horizon?

The other major permits still necessary are (i) the Aquifer Protection Permit and (ii) the longterm mineral lease with the Arizona State Land Department.

As a Summary from the prior announcement, the Air Permit is for the emissions from a 2.2 million ton per annum, two train processing plant and related mine production as contemplated by the Company’s Preliminary Economic Assessment released in December 2011. Prospect Global is continuing to evaluate building only one of the two processing trains and related mine output with correspondingly reduced emissions as analyzed in the Company’s Pre-Feasibility Study.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs