MBAC has applied for exploration permits for potash in the waters along the coast of Brazil. These exploration permits cover close to one (1) million hectares. MBAC has access to exploration results from oil and gas exploration programs conducted in these areas by Petróleo Brasileiro S.A., which is a Brazilian state-run energy company. Access to this public domain information significantly reduces the time and cost of exploration for potash. Initial examination of some of this data confirms the existence of potash beneath the ocean floor. MBAC has engaged consultants to determine the technical feasibility of the deposits and the economic feasibility of mining and processing the mineral.
