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African Potash poised to drill

By Robert Tyerman | Tuesday 27 May 2014


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.


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!


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