The study confirmed the technical & financial viability for the developed of a proposed a potash production facility at the project, which is located 60kms north of Perth.
Glauconite resources at Dinner Hill, according to the study, can support a million tonnes per annum facility for over 60 years.
The pre-tax internal return rate has been pegged at 21% with a net present value of $808m.
Potash West is now expected to progress the project towards a Definitive Feasibility Study.
In the other highlights for October-December 2012 quarter, the company identified a JORC complaint Indicated Resource at Dinner Hill while lodging a patent for valuable glauconite to potassium proprietary processing method.
The company signed an investment agreement with Chinese private investment group to raise funds of A$3m ($3.13m) by placing 9,090,909 shares on 16 November 2012.
