Universal Potash Corp. (PINK:UPCO) today announced, in a press release, the immediate start-up of its Potash Exploration Program focused on its interests in the Paradox Basin of Utah. Universal Potash Corp's newest venture is located less than 1,000 yards west of the BLM's designated KPLA (Known Potash Leasing Area) reserve. As I write, shares of Universal Potash were up 21 percent at $0.169 per share on heavy volume of more than 510,000 shares compared to its average daily volume of about 200,000 shares. The company has a market cap of $13 million and a 52-week range between $0.01 and $0.27 per share.According to the press release,the UPCO property interests encompass nearly 2,000 acres of the School and Institutional Trust Lands Administration (SITLA) subsurface potassium rights near the Lisbon Valley KPLA and indicates multiple potash depths due to their proximity to the flank of the Lisbon anticline.
"Our timing couldn't be better. Financing is available in the markets and Universal Potash is positioned to take advantage of this timing with our proposed first 2 site development on the three square mile lease interests adjacent to Lisbon Valley, Utah," stated Kevin M. Murphy, CEO of Universal Potash Corp.
For more information, please visit: www.UniversalPotash.com.
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