Last week, when writing about joke silver prospect Arian (AGQ), I promised to highlight another miner with almost ten times the market cap and even lowlier prospects.
Featuring shares in African Potash (AFPO), Independent Oil & Gas (IOG), Kuala Innovations (KUL), Mobile Streams (MOS), Octagonal (OCT) with share price targets for all five stocks.
Featuring shares in African Potash (AFPO), Cap-XX (CPX), Coms (COMS), JKX Oil & Gas (JKX), Oracle Coalfields (ORCP), Sea Energy (SEA) with share price targets for all six minnows
AIM-quoted African Potash (AFPO) has agreed a price of $500 (£329) a tonne for 50,000 tonnes of potash-based fertiliser material it has agreed to supply to the Zambian market under a recent Memorandum of Understanding (MOU) in a deal which Dr Chris Cleverly, the company’s executive chairman, suggests will deliver an expected pre-tax profit margin of 6%. The price compares with recent market prices of around $300 a tonne and is higher than many were expecting for this deal.
This morning, African Potash (AFPO) announced the $500 sales price per metric tonne of the fertiliser it is contracted to deliver to a distributor in Zambia. Under the terms of this contract, African Potash must deliver 50,000 metric tonnes (MT) of fertiliser by 24 August next year. The company expects a pre-tax profit margin of 6%, equalling $1.5million, assuming all goes to plan. African Potash’s share price is up 9.47% to 3.12p, last seen. If the company can agree similar terms across in its other deals, it could carve out for itself a very profitable niche in Africa’s burgeoning agricultural sector.
Featuring shares of African Potash (AFPO), Bacanora Minerals (BCN), CEB Resources (CEB), Cap-XX (CPX), Metal Tiger (MTR), Tern (TERN), together with some share price targets.
Vertical integration is the watchword at AIM-quoted fertiliser play African Potash (AFPO), which has reached long-term agreements to supply Zimbabwe, Malawi and Zambia with a combined 250,000 tonnes of the stuff at prices ranging from $400 to $450 a tonne. Highlighted here in April at 0.47p, shares in the company, which says it will need upwards of $5 million (£3.3 million) for the next phase of drilling at its West African Lac Dinga phosphate project in the Republic of Congo -- not the strife-torn DRC -- ave now reached 2.3p, as African Potash strives to capitalise on its new treading agreement with the 20-nation Common Market for Eastern and Southern Africa (COMESA).
Having soared from 0.315p at the start of the month to a 1.725p close on Monday before falling to 1.31p yesterday, shares in African Potash Ltd (AFPO) are currently on the rise again on the back of the company dismissing a report in the Daily Mail as “speculative and unfounded”…
Featuring a look at the shares of African Potash (AFPO), Centralnic (CNIC), Churchill Mining (CHL), Fastnet Oil & Gas (FAST), North River Resources (NRRP), Serica Energy (SQZ), with share price targets included.
Featuring African Potash (AFPO), Beowulf Mining (BEM), CPP Group (CPP), Vast Resources (VAST), West African Minerals (WAFM).
The share price of African Potash (AFPO) rocketed this week on news that it was moving into the fertiliser trading market. Previously the company has focused on its Lac Dinga project in the Congo, where initial drilling last year revealed the presence of significant potash deposits. But now, in the shorter term, it looks as though the tiny AIM-listed company will be shifting its focus to sourcing fertiliser from producers to then sell on, earning a cut of the proceeds for acting as the middle man.
If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at African Potash (AFPO), Fulcrum Utility Services (FCRM), Hornby (HRN).
Encouraging news this morning from African Potash (AFPO) has been greeted with a collective shrug of the shoulders from a sceptical market. As part of its planned strategy for expansion, African Potash has entered into commercial discussions with an agency of the Common Market for Eastern and Southern Africa (COMESA). COMESA is a free trade union for twenty African Member states and, if fruitful, African Potash’s discussions could lead to the development of a clearly defined sales channel for its potash-based fertiliser products across that continent.
John Meyer of SP Angel this morning comments on African Potash (AFPO) and Mariana Resources (MARL) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Featuring African Potash (AFPO), Bushveld Minerals (BMN), Clear Leisure (CLP), DJI Holdings (DJI), Orogen Gold (ORE)
Hot on the heels of the New World Oil & Gas (NEW) fiasco, evidence is emerging of a separate incident of possible forward selling of a placement involving another client of Cornhill Capital. Was this all above board? African Potash (AFPO) announced its plan to raise £1.2million on April 17th. In an echo of the New World controversy, African Potash’s placement was partially dependent on a successful shareholder vote at an EGM on May 21st. Careful analysis of African Potash’s daily volume data, before and after April 17th, reveals a number of troubling questions.
