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Sennen Potash to abandon Monument project and exit US

Sennen Potash Corp. on Dec. 9 announced that it is abandoning the Monument potash project in Utah and has started the process to sell its U.S. subsidiary.

The group has been unable to secure the C$2.5 million needed to maintain its land position at Monument and continue developing the project.

Sennen said raising the money has proven to be very difficult due to the global downturn in the potash sector. It will continue to seek other potential resource properties for exploration and development using working capital from its recently completed C$500,000 private placement.