Encanto shares surge on resources announcement

Encanto Potash Corp said it is on track to meet its target of doubling resources at its flagship Saskatchewan project after a First Nation council transfers mineral rights to Canada, sending the company’s shares up 18 percent in afternoon trade.

Encanto, which explores and develops potash properties, expects further drilling at its Muskowekwan property to commence after a referendum by First Nation on transferring the mineral rights on the reserved land to Canada.