Its been a while since we checked on our favourite penny stock speculator David Haselhurst, The penny stock guru has brought over some stocks from his Eureka report portfolio to my favourite magazine “money magazine portfolio”, The stock he has carried forward are Viralytics ( VLA) $0.29 , Image resources (IMA) $0.17 , and Potash West (PWN) $) 0.23 which are todays prices.

Potash west added to our portfolio

We like PWN and are adding 8695 units @0.23 = $2000 to our portfolio today.

[ Check Current price of Potash west (PWN) ]

^{upwards and forwards- super pick of the month-PWN}

Potash West NL (Potash West) focuses on potash mining projects. They have mineral tenements situated in the Perth Basin and the company has also acquired certain rights to glauconite and phosphate minerals within the mineral tenements. We also place value on speculators comment that this company has valuable intellectual property. with it developing a “commercially viable processing system” for processing glauconite- to fertiliser production, with it also lodging a world patent application for this process.

Potash West is undertaking a A$3.1M capital raising that will, if successful, provide sufficient funding to move its Dandaragan Trough project – believed to be the world’s largest known glauconite deposit – through feasibility.

If you believe, in there being a increasing demand for food (and thus fertilizer) its a good pick , but unfortunately those are not the only factors for a company to be successful, but with a good management and enough funding this stock can do well with its current valuation

Asx announcement : 18 February 2013

Historically Australia has always been deficient in known resources of potash but ongoing exploration has led to recent published resources for some deposits such as Lake Disappointment, Lake Chandler and Dandaragan Trough/Dinner Hill deposit in Western Australia (WA), in the WA/Northern Territory (NT) portion of Lake MacKay, and in the Karinga Creek Salt Lakes area in southern NT

Company’s exploration assets [ 4 tenements ]

Richmond Resources Pty Ltd
Torbinup Resources Pty Ltd
Adrian Griffin

The Perth Basin Potash Project consists of the right to explore for potash and phosphate within five exploration licenses (ELs’) and six applications for ELs (ELAs’) and contains 11 tenements and tenement applications located between 50 and 230 kilometres north of Perth.

Who is managing potash west ?

Directors / Senior Management

Mr Adrian Christopher Griffin (Non Exec. Chairman)
Mr Patrick Bernard David McManus (Managing Director)
Mr Gary Donald Johnson (Non Exec. Director)
Mr George Sakalidis (Non Exec. Director)

The potash west website is at http://www.potashwest.com.au and their office is in WA.

According to the United States Geological Survey the countries with the largest economic resources of potash (K₂O) in 2011 were Canada 4.4 gigatonnes (Gt), which represents about 46% of the total world resource, followed by Russia with 3.3Gt (35%) and Belarus with 0.75Gt (8%).

Some other companies in this sector are