Raytec Metals Corp. is a dynamic Canadian exploration company focused on the development of over 200,000 acres of potash claims located in Saskatchewan, Canada -- the largest producing region for potash in the world. The potash claims are located near two world-class potash mines in production since the 1960s and are directly adjacent to claims held by BHP Billiton. The company is also active on its iron ore projects in Ontario.
Latest Developments:
- Raytec has been granted its second potash exploration permit on the KP452 claim in south-central Saskatchwan (first permit was granted on the KP441 claim on July 17, 2008).
- Raytec has just completed a $25-million financing, bringing its total cash position to ~$28-million.
- Recently announced NI43-101 resource on the KP441 potash claim estimates a total net recoverable indicated resource of 12.49 million tonnes of K2O and a net recoverable inferred resource of 12.24 million tonnes of K2O. The resource covers 17% of the KP441 claim block.
The company also has a carried interest in 17 uranium claims in northern Saskatchewan where its joint venture partners have committed to a combined exploration budget of over $5.6 million prior to 2012.
Raytec’s President, Brian Thurston, believes that by focusing on the development of company’s potash and iron ore properties, the company is well positioned to service the needs of growing economies in Asia.
