The Energy Report

Verde Potash TICKER: NPK:TSX.V Visit Company Website Verde Potash, founded by Brazilians, is a mineral exploration and development company focused on fertilizers. The company is developing the Cerrado Verde project in Brazil, a source of potash-rich rock from which Verde plans to produce a slow-release, non-chloride, multinutrient, fertilizer product named 'ThermoPotash.' Founded as Amazon Mining in 2005, it changed its name to Verde Potash in April 2011 to better reflect its main business. The company also is exploring for phosphate and limestone.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Jaret Anderson, Mackie Research (1/31/12) "This morning, Verde Potash delivered a robust summary of the preliminary economic assessment for the company's Cambridge process. . .based on the work of SRK, this process looks very attractive, with an operating cost during the early years of production of US$274/t, ramping up to US$291/t over the 30 year life of mine as the stripping ratio increases. These opex numbers would appear to make Verde the lowest-cost producer on a delivered cost basis to the Cerrado region of Brazil."

Anoop Prihar, GMP Securities (1/31/12) "Verde Potash's preliminary economic assessment highlights compelling economics at Cerrado Verde. . .early this morning, the company announced positive preliminary economic assessment results for the production of conventional potash at its Cerrado Verde project, located in the Minas Gerais state of Brazil. The preliminary economic assessment assumes a 30-year mine life with initial production of 0.6 Mmt/year starting 2015 and then increasing to 1.6 Mmt/year in 2019 and 3 Mmt/year by 2024."

The Energy Report Interview with Corey Dias (1/24/12) "Verde Potash is planning to produce a unique product called Thermopotash. Thermopotash, derived from the combination of glauconite and limestone, is a slow-release potash product with no chloride, which is great for crops like tobacco, coffee, and oranges. In addition, the company is exploring the use of a new technology—the Cambridge process—which could potentially convert Verde's potassium-rich rock to regular KCl. This would be a massive opportunity in Brazil. In terms of available infrastructure, Brazil falls behind North America but is certainly ahead of Africa." More >

Anoop Prihar, GMP Securities (1/18/12) "Verde Potash's recent announcement that it can produce conventional potash from the Verdete slate found at its Cerrado project in Brazil should allow it to target a much larger market. . .we continue to believe that Brazil is the most attractive potash market in the world. Brazil imports 90% of its current consumption and government policy is to be self-sufficient by 2020; it is expected to be one of the fastest growing agricultural producers in the world and domestic producers enjoy a significant transportation cost advantage over foreign suppliers."

John Chu, Alta Corp Capital (1/17/12) "We are initiating coverage of Verde Potash with an Outperform rating. . .the company's incredibly large and at-surface deposit makes it especially attractive both from a capital cost and operating cost perspective. The potential to produce regular potash is a potential game changer for the company; that and the free option on both the phosphate and limestone assets makes Verde Potash one of the most exciting junior fertilizer plays in the marketplace today."

• Corporate Presentation (9/1/11)

(4/15/11) Verde Potash's Cerrado Verde

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