UK 08:51 Wednesday, 7 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Given the delays to payments involving the African Potash (AFPO) fertiliser deals so far, things aren’t looking good for the company, nor it’s business model!
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Comments
D_Stone
Having been seduced by the original model propagated by Mr. Cleverly, one can now only hypothesize that he has taken on the mantra of an AIM snake oil salesman. How else can you interpret the behaviour of a barrister that does not communicate with his shareholders except when ramping.
At least if you are well informed then you can show some tolerance but this saga is getting beyond a joke.
wildrides
Oh for goodness sake ……….. dont even bother chewing the fat over this worthless piece of shite . The deals were rubbish , the MOU are not legally binding , the management stinks like a three month old corpse in August . The companies strategy is incomprehensible and about as transparent as constipated Rhino shite . The only thing this outfit had going for it once was the resource in the ground ……… currently worthless .
Sell , sell and sell again , did you hear ……………….SELL .
Buy something with promise like Ariana with the change and a few bags of crisps to console yourself .
Duck and Dive
The trouble with all these African “logistics” outfits is that Africa has some of the world’s worst roads, as well as violent storms, terrorists, Yellow Fever, corruption, etc. Lorries have to cover huge distances and it takes them forever. Drivers have to be paid big bucks for those long journeys – and vehicles require constant maintenance. No-one is going to pay the correct price for such a service. So watch your step with these grandiose-sounding minnows like African Potash and AfriAg.
[“It’s” in paras 1 and 2 should be “its”. The apostrophe is only used when “it is” is contracted.]
Simple Moving Avarice
A couple of odd things stand out with this deal. Firstly, it was at $500/MT. That is extremely expensive – especially for urea.
Secondly it was for 50,000MT to be delivered Oct/Nov 2015 to meet “seasonal demand”. But in fact they shipped only 20,000MT two months late in January. So did this fertilizer arrive in time for the purpose it was intended?
Thirdly, fertilizer prices change and currently they are falling. Since the delivery was late is it now over-priced and uncompetitive?
Gary Newman
Duck and Dive,
Sorry yes you are right it should of course be ‘its’ as it is a possessive pronoun (I think that’s what it is anyway!). I’m sceptical of a lot of the small outfits in that part of the world and suspect that it wouldn’t be that hard to ‘persuade’ someone to sign a MOU with your company even if you knew it would never amount to anything…
SimpleMovingAvarice,
Had wondered that as well and could also be part of why the LOC looks to have been invalidated due to conditions not being met (can’t see any other reason it wouldn’t have been paid by now otherwise).
Antondec
The title of this article needs changing. The word Potash is superfluous to the actual analysis. “African” anything is a doomed money pit no matter how well intentioned and/or honest the participants,
Even Live Aid money ended up buying weapons – tells you everything you need to know about investing there.
PS: PHIL normally turns up now to tell us that African corruption, wars, rapes, genocides, diseases etc etc etc are all “our” fault – “our” being a catchall for white westerners. That’s when he’s not defending murdering islamofacists of course
spudface
Another AIM scam. the PR will be lined up, like a hollywood z lister plugging a new film/book/t-shirt.. The usual crew on hand to “interperate” the RNS to the followers and claiming Mr. Cleverly as the new messiah,.
AIM and african/indian/china companies etc are a recipie for rip-off. AVOID