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African Potash chalks up $100million new deals

By Robert Tyerman | Friday 4 September 2015


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.


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).


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