North American Potash Developments Inc. (TSX-Venture: NPD, Frankfurt: 30Z) is a Canadian-based resource exploration company whose primary focus is acquiring and developing agricultural assets in the United States.
This sector is forecasted to remain robust due to the ever increasing global population, growing demand for protein-based foods, and strong demand from the bio-fuel industry. Potash, as a commodity, experienced explosive growth in price in 2008 due to demand outstripping supply. In fact in 2007, the domestic potash producers in the United States were only able to fulfill 12% of the country's requirements, with the balance, 88%, being imported from other producing countries.
Through its 70% interest in Potash Green Utah LLC and Potash Green LLC, North American Potash has been granted State mineral leases for potash properties covering 6,277 acres in Utah, allowing the Company to work towards achieving its objective of developing opportunity sets for its shareholders in the agricultural sector.
The State mineral leases North American Potash Developments has acquired in Utah are located in The Lisbon Valley ( Paradox Basin ), an area which is believed to host a considerable amount of potash. This Basin is also host to the Cane Creek Potash Mine owned and operated by Intrepid Potash Inc. (NYSE: IPI). In addition to the State exploration permits that have been granted, 25 prospecting permits for 51,966 acres are under application with the Federal Bureau of Land Management.
The Company is led by Simon Tam, President/CEO and Director, who possesses a strong background in corporate financing and operational management. Mr. Tam is supported on the Board by Mike Magrum, P. Eng., a mining engineer with over 25 years of experience and Derrick Strickland (Geologist), who has planned and led numerous mining exploration programs. The Board of Directors is supported by Stuart Havenstrite, a US-based Geologist with a rich history of potash exploration experience and a Utah-based team with significant regional knowledge.
With the Agricultural Sector forecasted to remain buoyant, North American Potash Developments Inc., is well positioned to develop and build shareholder value.