DESCRIPTION: Amazon Mining is a mineral exploration and development company founded by Brazilians in 2005. The company is focused on the development of Cerrado Verde project. Cerrado Verde is a source of potash-rich rock from which Amazon plans to produce a slow-release, non-chloride, multi-nutrient fertilizer product. Amazon Mining is a UK public company with shares listed on the TSX Venture Exchange since November 2007.
The information below is based on the most recent information we have
received from analysts and the companies participating in The Gold Report.
We encourage you to visit the company's web site for updates.
"Today Amazon announces an initial resource estimate of around 100 million tons averaging about 10% K2O. Big hairy deal! It's like. . .one look and you know whatever the reserve numbers the analysts were using, it was multiples of that! In the Amazon notification, they mention the same as in their announcement, they write, 'The Funchal Norte Target represents only a small portion of the geological potential of the Cerrado Verde project. Coffey Mining used satellite imagery technology to estimate the exploration potential inside Amazon claims of approximately 15 billion tons of glauconite mineralization.' It's enormous!
In the meantime, expect to hear more about Amazon's gold project as we get closer to summer and in the background folks, they've got a vanadium project that would rate as probably one of the best in the world. . .except Brazil is a little bit behind as far as their uranium policies. With a tight shareholding of only 30 million shares outstanding, this is an incredibly leveraged situation, should the thermal potash economics work out, as many in Brazil hope and wish for.
One thing they are definitely lacking is coverage as we are one of the very few writers or other analysts that cover this story. That's going to change shortly as tours are being put together for several analysts over the coming weeks and we are so looking forward to seeing what they write."
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David Pescod, Late Edition (03/09/10)