African Potash finances convertible redemption - a cue for rerating?

With its shares down 88% from a 12-month high and a month after the departure of its previous chief executive officer Ed Marlow, AIM-quoted African Potash (AFPO) has raised £1.2 million at a discounted 0.3p to redeem convertible securities held by US backer Bergen Global Opportunity Fund of New York and fund work on the ground in West Africa. The company, whose shares have plunged from 4p to 0.47p in less than a year, holds 70% of the Lac Dinga potash project in the Kouilou region of the West African Republic of Congo -- not the strife-torn Democratic Republic of Congo --   and is seeking one or more strategic partners to develop it.

African Potash (#AFPO) issues confetti at 0.3p to raise £1.2m

African Potash (#AFPO) - new head honcho, CEO Marlow demoted to NED

All eyes fixed on African Potash

‘The vultures are circling,’ declares Ed Marlow, chief executive officer of African Potash (AFPO), as he weighs alternative strategies for exploiting the AIM-quoted company’s promising Lac Dinga potash project in the Republic of Congo without giving too much away. He says he expects ‘something will happen in the next month.’

African Potash (#AFPO) - good drill results from Lac Dinga, bullish RNS

Drilling cheer for African Potash

‘We have taken the risk off the table,’ asserts an enthusiastic Ed Marlow, chief executive officer of AIM-listed African Potash (AFPO), in the wake of encouraging early results from the first drill hole sunk by the company at its Lac Dinga potash project in the Republic of Congo’s Kouilou region. Exploration drill hole LDDH 001 has intercepted a 120 metre-thick salt sequence some 415 metres below surface, which includes a ‘critical’ 40 metres of multiple potash seams.

African Potash secures fertile funding deal

Ed Marlow, the former African investment chief at the HSBC banking group who now heads AIM-listed African Potash (AFPO), is waiting for first drilling results from the Guernsey-registered company’s Lac Dinga project in Republic of Congo, as he savours its success in obtaining $3.75 million (£2.2 million) funding for the project from US investment group Bergen Asset Management. Results from the first hole at Lac Dinga could come through in two weeks, he suggests, with data from the second hole hoped-for in September, ‘and then we’ll know how the nature of the deposit and how commercial it will be.’ Is this now a stock to consider?

African Potash offers large upside potential

Potash isn’t exactly up there with more glamorous natural resources, like diamonds and gold, but is still valuable. Which is partly why African Potash (AFPO) has caught my eye recently with its operation in the Democratic Republic of Congo, where it is targeting this key component of potassium fertiliser.

African Potash poised to drill

Potash, the potassium-bearing material used to make fertiliser, may be arousing controversy in Yorkshire. Its price may also have slipped from $500 a tonne before the 2007 financial crash to nearer $325 today, thanks to the actions of Russian and other key cartel producers. However, AIM-quoted African Potash (AFPO), which the other day raised $1.7 million (£1.06 million) at a lowly 1.9p, will sign contracts imminently to start drilling at its Lac Dinga potash project in West Africa’s Republic of Congo; not the strife-torn Democratic Republic of Congo!

Doc Holiday interviews African Potash

ShareProphets' old pal Doc Holiday has today recorded an interview with Ed Marlow of African Potash (AFPO) - a stock he owns.

UK Investor Show 2014 video - Ed Marlow of African Potash

Direct from the Queen Elizabeth Conference Centre a video featuring a UK Investor Show 2014 presentation by Ed Marlow of African Potash (AFPO)

Q&A with Ed Marlow of African Potash

Today I caught up with African Potash's (AFPO) CEO Ed Marlow. Clearly African Potash has been pegged on the watch list of retail investors over the past few months and was one of my tips of the year (see HERE).

Doc Holiday’s tips of the year 2014, Number 3 – Buy African Potash at 3p

Season’s greetings to one and all with my final pick of the year.

Buy African Potash Again at 2.625p

After my last tip to Buy and Sell African Potash (AFPO) with an 84% gain in just a few days it is time to revisit. The shares are a buy at 2.625p. 

African Potash: 84% ahead in 6 days, what now?

Six days ago I suggested buying shares in African Potash (AFPO) at 2.375p – the shares atre now 4.375p. Not bad eh? But what now?

Buy African Potash at 2.375p – Initial target 4p

African Potash (AFPO) at last seems to be getting the attention of the retail investor. And the good news is that the shares should go up.

African Potash: Buy at 2.38p - Target Towards 5p

After the Sirius Minerals (LSE:SXX) experience since the summer there may be some traders who would be happy never to hear the word “potash” ever again. But if nothing else, it could be that potash from Africa, rather than God’s Own County could be a more realistic prospect at the end of the day.