Owning Vulcan is like having money in the bank. You get NO return on it, but you still figure at least your principal is safe.


In 2011 Vulcan had a gravity survey flown over the properties that Red Moon now owns. The survey was looking at the "distribution of evaporitic rocks".




To me that means essentially "where there's salt there's probably potash".  It doesn't mean they'll hit more or less than they hit at Captain Cook, but they will probably hit.


I'm wondering now WHY they did they do the $250k placement? Red Moon already had $600k or so in the bank so why do this latest placement? Red Moon had PLENTY of money to drill these first two holes. These are probably going to be 400 meter holes. What does it cost to drill these holes through salt and potash, $150-$200 per meter?


Even at $200 per meter a 400 meter hole would cost $80k.


Red Moon had enough money to pay for several holes at that rate.