For the gamblers out there, Encanto Potash made a big move yesterday. Like MBAC, there are concerns with the company's finances but if there is any merit to this and other similar reports and a $9.1 billion dollar deal is signed with India, then the sky is the limit.

Encanto Potash shares rise on potential Indian offtake deal

Shares of Encanto Potash Corp. (CVE:EPO) jumped 42.11 percent to 13.5 cents after the company announced that the Board of India’s fertilizer consortium, Rashtriya Fertilizer Co. (RCF), is in the process of considering the company’s long-term offtake proposal for approval.

Encanto is optimistic that RCF and the Ministry of Chemicals and Fertilizers will approve the proposal, given Indian Prime Minister, Narendra Modi’s demonstrated interest in expanding trade between Canada and India, which was highlighted last week by a deal whereby Saskatchewan’s Cameco would supply the Asian country with uranium until 2020.

Encanto Potash is developing potash properties in the Province of Saskatchewan. The company is part of a joint venture with Muskowekwan Resources Ltd. ("MFN JV") to develop approximately 61,000 largely contiguous acres of property.

Encanto’s pre-feasibility Study dated February 28 2013 for the Muskowekwan First Nations Home Reserve Project confirmed 162 million tonnes of proven & Probable potash reserve, supporting primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million tonnes.

Encanto also has holdings in two other properties in Saskatchewan, 20% interest in the 55,000 acre Ochapowace/Chacachas property and 100% interest in the 55,437 acre Spar property.

http://www.proactiveinvestors.com/companies/news/61093/encanto-potash-shares-rise-on-potential-indian-offtake-deal-61093.html