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Company Statement:
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Ringbolt Ventures Ltd. (TSX-Venture: RBV, Frankfurt: 30Z) is a Canadian-based resource exploration company whose primary focus is acquiring and developing agricultural assets in the United States.
This sector is forecasted to remain robust due to the ever increasing global population, growing demand for protein-based foods, and strong demand from the bio-fuel industry. Potash, as a commodity, experienced explosive growth in price in 2008 due to demand outstripping supply. In fact in 2007, the domestic potash producers in the United States were only able to fulfill 12% of the country's requirements, with the balance, 88%, being imported from other producing countries.
With Agricultural Sector forecasted to remain buoyant, properties that offer significant potential for potash occurrence, a well rounded and diversified management team, and a strong cash position (CDN$2.7 million in the treasury), Ringbolt Ventures Ltd. is well positioned to develop its opportunity sets to build shareholder value.
Current Operations:
Potash - Paradox Basin, Utah
Ringbolt has pending applications for permits totaling 86,000 acres within the Paradox Basin which is a major Potash mining district. The United States Geological Survey estimates that the Paradox Basin contains 2 billion tons of Potash.
Potash- Holbrook Basin Arizona
The Company, through its 90% owned US subsidiary, applied for and received 15 State Exploration Leases on lands located in the Holbrook Basin, Apache County, Arizona. Recently released Arizona Geological Survey open file report (OFR 08-07 Rauzi 2008) states that the Holbrook Basin is, potentially underlain by 3,500 square miles of salt beds, 600 square miles of which are also underlain by a potash bed (Rauzi 2008). The Arizona Leases cover 9,594 acres of land.
Hornby Basin Property
Exploration for radium and subsequently uranium and silver commences int he Port Radium area of Great Bear Lake in the early 1930s following the identification of secondary cobalt and nickel mineralization on the east side of the alke by the geological Survey of Canada.
Management
Simon Tam
President,CEO
Eunho Lee
CFO
Mike Magrum, P.Eng,
Director, Qualified Professional
Derrick Strickland, MBA, P.Geol,
Director, Qualified Professional
Major Shareholders
No info available.
Contact Information
306-595 Howe St.,
Vancouver, BC,
V6C 2T5;
Telephone: +1.604.638.7382
Facsimile: +1.604.871.9926
Corporate Information
Share structure and low market capitalization
17.2 million shares issued and outstanding.
22.0 million shares fully diluted -2 million warrants at CDN$0.75 with expiry date of March 2009 and 3 million warrants at CDN$0.75 with expiry date of May 2009).
As of December 22, 2008, market capitalization at CDN$1.9 million – below cash and cash equivalent on hand.
At CDN$0.11 per share, Company is trading at a discount to its Cash Value of CDN$0.151 per share.
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