UK 02:29 Saturday, 24 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.
AIM-quoted African Potash (AFPO) has paid some £70,000 for a 4.74% stake in fellow AIM counter and specialist investment group Blenheim Natural Resources (BNR) as part of its declared policy of participating as fully as it can in what chairman Chris Cleverly argues remains one of the fastest growing sectors in the world. African Potash, which combines a role in sourcing and supplying potash, a key source for fertiliser, with the 1.7 billion-tonne Lac Dinga potash mining project in the West African Republic of Congo, is contributing to a £640,000 placing at a lowly 0.8p by Blenheim, whose backers include veteran resources investor Bruce Rowan and seasoned plantations player and director Konrad Legg.
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Comments
wildrides
Looks more like the purchase of a directorship and options with AFPO cash to me . Nice work if you can get it , but the Karma will come back and slap him . Get on with the fecking mine you snake oil salesman instead of pissing about with 5% haulage contracts that will never get delivered on .
turbograndad
Far too Cleverly by half, me thinks.
Barford
Totally agree Wildrides!
Your wrong Robert, ‘backs regional investor’….come on….
We have held some shares in Blenheim (formally Coburg Grp) so I know about them and this stock is a total lobster pot stock, they have some minor stock holdings and their main investment is now aim delisted African Eagle now just on the altx exchange.
African potash have also vastly overpaid for their 4.74% stake for £70,000 , that gives an implied value of £1.4m odd, from last full year account when thy had less than £40grand in cash and with receivables/for sale stocks minus payables they were out of cash and they done near enough fck all in that period.
And Interestingly they appointed a new joint broker (peterhouse) and a small placing in October 2015 yes 2 months ago, they raised £141grand now some 2 months later they have dumped or been dumped by peterhouse (not on peterhouse website as a client) and have now appointed Cornhill and placed £640grand and have had I presume Cleverly dropped in since Cornhill are African potashe’s broker as well.
That gives Blenheim around £780 grand in cash on top of sod all really from last account at end April so taking into account if they blown/committed probably £100 grand since April they probably got sub £680 grand available, also I noted market makers had recently increased the sell price for this stock with no trade clearly they knew.
Looking forward I presume either Blenheim will buy stock in African potash as an investment or some joint venture deal will be done.
But in my opinion this is not a investment by African potash that gives them better potential.
All the best
TheMadStork
This is absurd. AFPO borrowed £750k at worse-than-credit-card rates and spunked £70k on getting Chris Cleverly another job and free personal share options. Disgraceful. They have not delivered on any of the promises so far and the chances of them generating any cash before the Wife Loan runs out are precisely zero.
I’m short the stock and will add further to it if Spreadex will let me.
Phil
No not this one Robert.
2 drills, shed load of Bergen highly dilution death spiral funding, more funding to be rid of it. Empty lorries supposed to be filled with Potash, driving African ice-roads to no-where. No of drills 2
Where is the frigging mine ?