shaw stockbroking

This is from Shaw Stockbroking-

REWARD MINERALS
(RWD)
RECOMMENDATION
@ $1.01 ST: BUY LT: OUTPERFORM
TL
KEY POINTS:
o
Emerging potash
producer.
o
Substantial potash
resource established.
o
Currently all potash
is imported into
Australia.
RWD is looking to become a potash producer at Lake Disappointment, WA where a substantial
potash resource has been delineated. Currently over 400ktpa of potash is imported into Australia for
use as an agriculture fertiliser. RWD is currently undertaking technical studies with a view to initially
produce 200ktpa of Potash as well as exploring for suitable buried deposits at a number of locations.
We recommend RWD as a Buy on the basis that a successful potash operation should quickly
establish a significant market share owing to the high cost of potash imports.
Please see report published yesterday for full details.