Potash One, a Vancouver firm with potash permits in southern Saskatchewan, has moved from the TSX Venture Exchange to the TSX, under the symbol KCL.
The company, whose 52-week low on the TSXV was 80 cents, began trading on the TSX Wednesday and was trading at $5.54 per share that afternoon.
“A TSX listing will further enhance our visibility and profile in the capital markets as the Toronto Stock Exchange is a world-leading platform for liquidity and access to capital for the resource sector,” Potash One CEO Paul Matysek said in a release Tuesday.
The company holds four potash permits on over 336,000 acres near the largest potash solution mine in the world, Mosaic’s property at Belle Plaine, Sask., east of Moose Jaw.
The company said its entry into the potash industry in 2005, has given it a “strategic advantage over its competitors” and that its solution mining methodology may offer an edge in terms of lower costs.
However, the company also announced Monday that it had invested in a 13 per cent stake in Potash North Resource Corp., another Vancouver company with Saskatchewan permits, which Potash One said will provide it with “a continued exposure to the conventional mining potash sector” while it focuses on solution mining.
Potash One said its latest technical report on its Legacy Project, which covers 97,400 acres near Belle Plaine, pointed to “indicated” mineral resources of 36.8 million tonnes of potash and “inferred” resources of 360.4 million tonnes.