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If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.
The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.
Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.
Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)
So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.
For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.
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Friday, June 06, 2008
Western Potash Corp. Executes Drilling Agreement with Ensign Drilling Partners
Comtex
VANCOUVER, BRITISH COLUMBIA, Jun 06, 2008 (MARKET WIRE via COMTEX) ----Western Potash Corp. (the "Company") (TSX VENTURE: WPX)(FRANKFURT: AHE) is pleased to announce that it has signed a drill contract agreement to commence its initial potash exploration drilling program within the Company's Russell-Miniota Exploration Permits in Manitoba. These permits comprise 555 square kilometers, are adjacent to BHP Billiton's Potash Lease and Agrium's Exploration permits along the Manitoba border, and lie within 13km of Saskatchewan Potash Corps's Rocanville potash mine. The property is well-located 55km from the US border, and has good access to all necessary infrastructure.
Seismic data purchased by Western Potash and interpreted for the presence of the Prairie Evaporite sequence, which is known to host Potash bearing beds has identified the presence of the salt beds continuing onto Western Potash's permit area. The potential of the area to host potash deposits has also been indicated by historic drilling that intersected potash mineralization (interpreted from gamma ray logs) with grades up to 20% K2O over 3.7m.
Under the terms of the agreement, the Company has secured a conventional rotary oil drill rig supplied from Ensign Drilling Partnership based out of Calgary, Alberta to complete an initial five potash exploration wells with an option to extend the program by an additional 10 wells, as results warrant.
Drilling is expected to commence on or about June 21, 2008 subject to delivery of well licenses by the Manitoba government and surface access agreements with land owners. Legal land surveying crews are currently completing drill site surveys that will be used in the well licensing process in advance of this work. These procedures are part of regular preparations for this type of program and are not expected to cause delays in the start-up of drilling.
This drilling will further define the extent, grade and type of potash mineralization present on the property. All holes will be drilled vertically targeting the Prairie Evaporite formation, which will be conventionally cored using inverted drilling fluids so as to not dissolve the salt and potash sequences. Samples will be collected from the potash sequence for observation and analysis, and each hole will be logged using industry standard down-hole geophysical logging techniques.
The Company plans to initiate a concurrent 175 line km 2-D seismic survey on the property to assist in its interpretation of the salt and potash sequence in the area. Boyd-Petrosearch of Calgary, Alberta has been engaged to manage and assist the company in planning its Seismic geophysical surveys and will also carry out the interpretation of the seismic data acquired in the proposed program. Prospective salt beds indicated by these seismic surveys will be further tested with additional drilling as part of the ongoing exploration programs. A $5 Million Dollar exploration program has been approved by Western's board for this initial drilling and seismic program with a provision to expand the budget by an additional $5 Million program should ongoing results warrant it.
Western Potash Corp. is a mineral exploration company engaged in the evaluation, exploration and development of potash mineral properties in Western Canada. The Company intends to define and develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner.
The in-house qualified persons for the purposes of NI 43-101 guidelines are J. Patricio Varas, P. Geo and Dean Pekeski, P. Geo, both of whom have reviewed and approved the contents of this news release.
For more information on the Western Potash Corp.'s projects, please visit the Company's website at: www.westernpotash.com.
ON BEHALF OF THE BOARD OF DIRECTORS
J. Patricio Varas, President and CEO
This news release contains Forward Looking Statements regarding our intentions and plans. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Western Potash Corp. J. Patricio Varas President and CEO (604) 689-9378 (604) 689-8199 (FAX) Website: www.westernpotash.com
SOURCE: Western Potash Corp.
http://www.westernpotash.com
Copyright 2008 Market Wire, All rights reserved.
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