Potash Investing News (PIN) last checked in with Canada's Potash Ridge (TSX:PRK,OTCQX:POTRF) back in July, when the Utah Division of Oil, Gas and Mining approved its notice of intention to start large mining operations at the Blawn Mountain sulfate of potash project. It hasn't even been two months since the company received that permit, but already Potash Ridge has made even more progress at Blawn Mountain, which is located in Southern Utah. For instance, it's released its Q2 financial results and officially received the permit mentioned above, as well as its groundwater discharge permit — though both were subject to 30-day comment periods, no objections were raised. Tetra Tech MOU Most significant, however, is last week's announcement that Potash Ridge has signed a memorandum of understanding (MOU) with Tetra Tech for a long-term strategic relationship to develop Blawn Mountain. According to the company's press release, the MOU will see Tetra Tech start a feasibility study on the project "later this year, subject to successfully raising additional financing."
Blawn Mountain project, Utah.
Additionally, under the MOU Tetra Tech will be the engineering, procurement and construction management contractor for Blawn Mountain "on a right of first offer basis." The agreement also contemplates Tetra Tech being involved in build-own-operate (BOO) arrangements for "various infrastructure arrangements," possibly including water treatment and sulfuric acid plants. Commenting positively on the arrangement, Guy Bentinck, president and CEO of Potash Ridge, said, "[t]his partnership combines our world class sulphate of potash project with a leading provider of consulting, engineering and construction management. Tetra Tech's willingness to participate in BOO arrangements for infrastructure assets represents our Project's first long-term strategic alliance and is a major positive step in our project financing strategy."