January 4, 2017 / 3:28 PM / in 9 months

BUZZ-Encanto Potash Corp: Biggest intraday pct gain in 8 months

** Shares of the company, which is developing a potash mine in Saskatchewan, jump as much as 42.9 pct to 1 Canadian cent in early trading; Biggest intraday pct gain in 8 months

** Company enters memorandum of agreement with India’s National Federation Of Farmers’ Cooperative for 100 mln tonne, 20 year offtake agreement

** Offtake agreement provides for minimum supply of 5 mln tonnes of potash per year for a minimum of 20 years

** More than 4 mln shares traded, 16.6x 30-day moving avg

** Encano Potash is an exploration and mine development company, which is focused on potash properties in the province of Saskatchewan

** Up to Tuesday’s close, stock had gained about 7.7 pct in the last 12 months

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