PGRX Market Commentary: Recent Pre-Feasibility Study Strengthens Company’s
Low Capital Requirement Positions PGRX Well to Meet Increased Future Demand
DENVER -- August 1, 2013
Prospect Global Resources Inc. (“Company” or “Prospect”) offers its
perspective on recent developments related to potash markets. It’s the
Company’s view that if the sector produces at full capacity, the likely
response will be an increase in global demand from parts of the world that
historically could not afford fertilizer.
Most supply experts predict potash demand will continue to increase at above
GDP growth rates, which will require additional production increases over the
“Based on our recent Pre-Feasibility Study our Holbrook project is designed to
produce 1.4 million tons per year and has the lowest estimated capital cost
per ton of production of any greenfield project,” said Damon Barber, CEO of
Prospect Global Resources Inc. “As incremental production is required to come
online over the coming years, we are well positioned to meet that need. Our
projected annual production is less than year-over-year demand growth
About Prospect Global Resources Inc.
Prospect Global Resources Inc. is a Denver-based company engaged in the
exploration and development of a potash mine located in the Holbrook Basin of
eastern Arizona. Prospect Global’s stock is traded on the NASDAQ Capital
Market under the ticker symbol PGRX.
Additional details about Prospect Global Resources Inc. can be viewed at the
Company’s website, www.prospectgri.com.
Regarding Forward-Looking Statements
With the exception of historical matters, the matters discussed in this press
release include forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
projections or estimates contained herein. Such forward-looking statements
include statements regarding current and future classification of Prospect
Global’s potash resources, development of its potash resources and potash
mining facility and the Pre-Feasibility Study. Factors that could cause actual
results to differ materially from projections or estimates include, among
others, potash prices, economic and market conditions, and the additional
risks described in Prospect Global's filings with the SEC, including Prospect
Global's Annual Report on Form 10-K/A for the year ended March 31, 2013. Most
of these factors are beyond Prospect Global's ability to predict or control.
The forward-looking statements are made as of the date hereof and, except as
required under applicable securities legislation, Prospect Global does not
assume any obligation to update any forward-looking statements. Readers are
cautioned not to put undue reliance on forward-looking statements.
The Rose Group
Elana Weiss, 310-280-3710
Prospect Global Resources, Inc.
Mr. Gregory Dangler, CFO
Press spacebar to pause and continue. Press esc to stop.