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yeah.. things could get moving fast
busting through 3¢, a nice nr this week, & we're off
lookin real good over here.. took a starter position this morning
lmao!
lets do the math
350,000 minus ???
http://www.marketwire.com/press-release/sterling-contracts-stockvest-otcqb-sggv-1517831.htm
so the earlier article was a little premature
with the World Bank Group and Liberty Mutual Group backing this company.. we're definitely going to see an article like that real soon
Africa Export-Import Bank Consider Potash Proposal
By Bewket Abebe, 23 June 2013
http://allafrica.com/stories/201306250303.html
Although the discussions are still in their early stages, both parties are enthusiastic towards the project
Senior managers of Allana Potash, which controls 160SqKm of the Danakhil Depression, at Dallol, in Afar Regional State, are in negotiations with the Africa Export-Import Bank (Afreximbank) over a possible 600 million dollars in financing to develop 1.3 billion tonnes of potash resources.
Although it is too early to tell, the bank is optimistic about the potash development project, which is in its preliminary stage, said Denys Denya, the bank's executive vice president of Finance, Administration and Banking Services, at the annual general shareholders meeting, held at United Nations Conference Centre, in Addis Abeba, on Wednesday, June 19, 2013. The bank is also celebrating its 20th anniversary.
"We are still at the preliminary stage, but we are positive about that," Denya told the participants.
The bank was established in Abuja, Nigeria, in October, 1993, by African governments for the purpose of financing, promoting and expanding trade within and outside of African.
The bank, which is looking into financing the potash project in Ethiopia, has been active in the East Africa region, says Denya.
"The bank financed Kenyan Airways, with 1.9 billion dollars towards its expansion project, in 2011, and it is also looking into financing the coffee sector in Uganda and large sugar projects in Sudan," he added
Allana secured financial support from two significant strategic investors: The IFC, a member of the World Bank Group and Liberty Metals and Mining, a member of the Liberty Mutual Group, after it presented its full feasibility report, in April 2012, to the Ministry of Mines (MoM).
It also received approval from its Environmental, Social, and Health Impact Assessment (ESHIA) from the Ethiopian Environmental Protection Authority (EPA), two months ago. This is the company's final requisite in its application of a mining license.
The Ministry is currently evaluating the feasibility study of the company, according to Bacha Fuji, head of the Public Relations at the Ministry.
The Allana's resource holds an average grade of 19.32pc potassium chloride, representing about 250 million tonnes, more than a 90pc increase over the June 2011 resource estimate.
holy sheet!!
nice day.. announcements are probably not too far off
India Exim Bank Lends Ethiopia $300 Million for Rail to Djibouti
By William Davison
http://www.businessweek.com/news/2013-06-19/india-exim-bank-lends-ethiopia-300-million-for-rail-to-djibouti
Export-Import Bank of India will lend $300 million to Ethiopia to help construct a railway to a planned port on the Red Sea in neighboring Djibouti.
Exim Bank will open the credit line once technical studies are completed on the 210-kilometer (130-mile) link from Asaita in northeastern Ethiopia to Tadjourah, Managing Director T.C.A. Ranganathan said in an interview yesterday in Addis Ababa.
The port will have a dedicated terminal for shipments from Toronto, Canada-based Allana Potash Corp. (AAA), which is developing a $642-million potash mine in Ethiopia’s northeast.
The government of landlocked Ethiopia plans to lay more than 2,000 kilometers of standard-gauge track during a five-year national growth blueprint through mid-2015. The country is seeking to spur a mining boom, attract increasing investment for telecommunications and manufacturing and help make the economy less reliant on small-scale agriculture.
Revenue from mining is expected to “surge” after the award of 24 new concessions in 2006-07, bringing its expected contribution to 10 percent of gross domestic product in a decade, according to the website of the Ethiopian Embassy in Washington. Mining and quarrying accounted for less than 1 percent of the Horn of African nation’s GDP in 2010, according to the U.S. Geological Survey.
Ethiopia accounted for 11 percent of global tantalum output, a material used in transistors for mobile phones, computers and digital cameras and it also produced cement and gold, according to the survey. It has deposits of opal and soda ash, among other minerals.
Assisting Africa
“We must assist Africa and partner with them in their development by offering whatever expertise we have,” Ranganathan said.
The Exim Bank funding can be spent buying goods and services from India, according to a press statement released by the Mumbai-based lender today. Ranganathan and Ethiopian State Finance Minister Ahmed Shide signed the loan agreement in New Delhi on June 13, according to the statement.
State-run Ethiopian Railways Corp. says the government has secured or is in talks to get export financing from banks in Turkey, China, Russia and Brazil.
Exim Bank has previously extended credit worth $640 million for sugar factories and $65 million on the power transmission network in Ethiopia, according to the statement.
Earlier loans from Exim Bank have carried a 1.5 percent interest rate with a 5-year grace period and maturity of two decades on longer, according to information on the website of Ethiopia’s Finance Ministry.
To contact the reporter on this story: William Davison in Addis Ababa at wdavison3@bloomberg.net
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net
I'm not loving the titles of these articles but the substance is very good (if people bother to read it).
Allana Says Concerns for Potash Supply Glut Overblown
By Christopher Donville - Jun 10, 2013 8:33 AM ET
http://www.bloomberg.com/news/2013-06-10/allana-says-concerns-for-potash-supply-glut-overblown.html
Bloomberg Businessweek.. nice exposure
Allana in Ethiopia Snubs Potash Supply Concern: Corporate Canada
http://www.businessweek.com/news/2013-06-10/allana-in-ethiopia-snubs-potash-supply-concern-corporate-canada
Allana Potash Corp. (AAA), the Canadian developer of a $642 million potash mine in Ethiopia, says predictions of a global oversupply of the crop nutrient are overblown because competing projects are being put on hold.
World potash production capacity will rise 38 percent to 96.5 million metric tons by 2017, while demand will increase 26 percent to 66 million tons, according to Green Markets, a fertilizer industry information provider.
Supply forecasts include mines that aren’t yet in production and may be shelved or canceled because of rising construction costs, said Farhad Abasov, Toronto-based Allana’s chief executive officer.
“On paper it seems like there is quite a bit of supply coming on line,” Abasov said in a May 28 telephone interview from London. “In reality only a handful of them will hit production.”
Soaring expenses are beginning to exact a toll on proposed potash mines around the world. Vale SA, the third-largest mining company, in March suspended its Rio Colorado project in Argentina after the estimated cost almost doubled to about $11 billion. Last month, U.S. producer Mosaic Co. (MOS) deferred a capacity expansion in the Canadian province of Saskatchewan and JPMorgan Chase & Co. analysts said BHP Billiton Ltd. (BHP) is likely to shelve its Jansen potash project.
Rising Costs
It’s only a matter of time before more developments, some with a price tag of more than $1 billion, are hobbled by complex geology, a lack of committed financing, and rising costs, said Spencer Churchill, a Toronto-based analyst at Paradigm Capital Inc.
“Allana is unique because it has found a large, high-grade potash deposit that is near-surface and faces fewer challenges than the traditional greenfield projects,” Churchill, who has a buy rating on Allana, said in a May 23 note.
The shares rose 4 percent to 52 cents in Toronto on June 7. They’ve advanced 11 percent in Toronto this year, the third-best performer on an index of 37 fertilizer stocks compiled by Bloomberg Industries.
Allana posted a net loss of C$3.86 million ($3.79 million) and no revenue in the quarter ended Jan. 31. It had C$28.6 million of cash at the end of the period, according to data compiled by Bloomberg.
BHP Review
Potash, a form of potassium and one of three essential crop nutrients, is applied to plants to help them strengthen their root systems and resist drought.
Abasov isn’t alone in regarding industry concerns about excess supply as exaggerated, Peter Prattas, a Toronto-based analyst at Cantor Fitzgerald LP, said May 30 in a telephone interview.
“We share the view,” said Prattas, who rates Allana a buy with a C$1.25 price target. “The fears come from the fact that there is overcapacity, but there certainly isn’t oversupply.”
Jansen, which is located in Saskatchewan, is under review at Melbourne-based BHP. The project may eventually cost close to $15 billion, Bank of of America Merrill Lynch analysts said in a June 4 note.
BHP Chief Executive Officer Andrew Mackenzie, who is slashing capital spending after a decline in commodity prices, said June 6 that potash “is a great option but it’s just an option” and that Jansen must meet certain criteria if it’s to proceed.
Below Capacity
Meanwhile, major producers such as Potash Corp. of Saskatchewan Inc. and Russia’s OAO Uralkali (URKA), the world’s two biggest, “will not choose to ramp up their production to anywhere near full production because their bias is always price over volumes,” Prattas said.
Bill Johnson, a spokesman for Potash Corp., referred to CEO Bill Doyle’s comments on an April 25 conference call when he said that “we always think that price is more important than volume.”
Rob Litt, a spokesman for Mosaic, declined to comment on the outlook for potash demand and supply. No one at Uralkali and Brazil’s Vale was immediately available for comment.
The potash industry is dominated by producers in North America and the former Soviet Union that together accounted for 56 percent of supply last year, according to Green Markets, a unit of Bloomberg LP, which is the parent of Bloomberg News. Uralkali shipped 9.5 million tons in 2012 and had 11.5 million tons of capacity, the Green Markets data show.
China Exports
Uralkali said May 29 it reduced its rail exports of potash to China, cutting supply in the spot market and strengthening its position in talks for the nation’s next fixed-price supply contract.
Abasov, a former senior vice president at Potash One Inc. who left the company about three years before it was sold to German fertilizer producer K+S AG (SDF) in 2011 for C$361 million, is proposing to build a mine in Ethiopia that would flush water-soluble underground potash deposits with brine. The resulting liquid solution from the development, part of Allana’s Dallol exploration area, would be pumped to evaporation ponds on the surface.
Last month, Allana said Ethiopia approved the company’s environmental, social and health impact assessment for Dallol. A feasibility study was completed in February.
‘Sweet Spot’
The Ethiopian mine is well-situated geographically to supply fertilizer buyers in India and China and to meet growing demand for crop nutrients in Africa, Abasov said. Allana forecasts the development will have a 33 percent internal rate of return and a payback period of 3.1 years, assuming a potash price of $430 a ton, according to the company’s website.
Allana, which plans to start construction of the mine by the end of this year and begin production three years later, is in talks with lenders and potential buyers of its potash, Abasov said. International Finance Corp., a World Bank unit, and Boston-based Liberty Metals & Mining Holdings LLC, a subsidiary of Liberty Mutual Holding Co., are Allana shareholders.
“Our project is right in the sweet spot because it has great economics, it is food-related and it is in a country that needs a lot of development,” Abasov said.
To contact the reporter on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net
To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net
you're an animal! ha
i see the same endgame.. and you're right - either way we win
you'll probably agree that the idea that you can't sell a property because they have existing contracts for extracting & processing is pretty ridiculous
it would all depend on the terms of the contract & we know nothing of that so we wait and see
really really looking forward to this next 10K
why are you so hung up on the 500 tonnes?? they just started removing ore
relax.. step back and breathe
yeah, the specialty fertilizer company sounds good
i'd really like to know more details of the 2 deals
too bad there's not a number to call that someone answers (ha!) or an ir guy we could call that could explain the specific details of how Baolin, Hongyu, and Yinuo interact.
So far we know that Hongyu is paid by Baolin for what they extract & process based on grade and that Hongyu pays Yinuo for additives, manufacturing expertise, and a brand name to put on the label
It's not just a processing agreement, it's a mining & processing agreement they signed with Yichang Baolin. We don't know the details but from the wording of the pr it doesn't sound like a long term commitment to me. Obviously none of us know for sure.
yeah.. the stable share structure is a beautiful thing
The last time shares were issued was almost 2 years ago on July 5, 2011, when Sterling issued 10,000,000 shares to the Hongyu Shareholders for acquiring the remaining 20% equity interest in Silver Castle from the Hongyu Shareholders
i think the only increase in OS we'll see is when the options & warrants are exercised and when that happens the PPS will be higher plus $10,139,125 will be raised
The strike price of the options is 25¢
The strike price of the warrants are 15¢ & 50¢
how do the deals complicate things.. they are interim deals
i would take that as not being permanent and just a means to test processes
per the pr:
"The aforementioned progress is presented as an interim measure to gauge the ease and efficiency of the mining process together with the efficacy of the contractual arrangements made to produce and market the ore."
no worries about him.. i'm just playin around
there's really a whole lot to like here
this the fastest i've ever seen a mine come online (from my limited experience) and these guys haven't sold a share in a long while and say they don't plan on it
i agree.. we're close to a big up.. possibly dollars
L2 ASK
MPID Ask Price Size Date/Time
NITE 0.085 10000 13:29
VNDM 0.10 5000 05/29
ARCA 0.10 5000 08:59
ETRF 0.125 5000 08:31
CSTI 0.145 5000 05/30
CANT 0.145 5000 07:35
CDEL 0.1525 5000 13:40
ATDF 0.165 75870 11:09
UBSS 0.63 22000 13:40
bunch of 8s just went.. did you just buy back in?
like me?? this coming from the guy with an endless supply of shares.. lmao! how far through the 350k are you anyway?
now i get it.. you're the owner of StockVest!
now i know why times are so tough & you have so many shares to sell
thanks a lot Fred!
much appreciated
59¢ looks like we're heading back up today after a little breather...
Allana and IC Potash regains ground while potash market improves
Posted on May 27, 2013 by Alessandro Bruno
http://www.proedgewire.com/potash-phosphate-intel/allana-and-ic-potash-regains-ground-while-potash-market-improves/
The ProEdgeWire Potash and Phosphate Sponsor index gained 5.75% for the week ending May 24. There were two clear winners, Allana Potash (‘Allana’, TSX: AAA | OTCQX: ALLRF) and IC Potash (‘ICP’, TSX: ICP | OTCQX: ICPTF). Allana and ICP gained 28.74% and 11.54% respectively in Toronto trading as the market has finally started to recognize both companies’ potential. Allana Potash has chosen the more unusual route of mining in Ethiopia, not very commonplace at first glance; however, Allana has obtained a regular flow of success there, maintaining good relations with the government and the local community at its Dallol project in the Danakhil Basin, which has been successfully completing all the exploration stages in anticipation of an expected production start in early 2015.
Last week, Allana announced that it has received approval for its Environmental, Social, and Health Impact Assessment (ESHIA) from the Ethiopian Environmental Protection Authority (EPA) and Ministry of Mines and Energy. The approval of the ESHIA brings Allana another step closer to being granted the Mining License for the Dallol Potash Project. Allana has Measured and Indicated Resource of 1.298 billion tons at an average grade of 19.2% potassium chloride (KCl), which in tonnage terms amounts to approximately 250 million tons of potassium chloride. In addition, the project also has 588.2 million tons of KCL in the inferred category with an average grade of 18.6% potassium chloride, which constitutes another 109 million tons of KCl. The measured and indicated resources include sylvinite at 171.4 million tons with an average grade of 31% potassium chloride. In announcing receipt of the ESHIA, the company announced that Ethiopia’s Ministry of Mines and Energy has made significant progress in the analysis of the project’s parameters and given that the feasibility study already submitted, Allana believes that the mining license could be issued within the next few months.
Allana’s financial situation is also very good in comparison to other juniors, having about USD $ 30 million in cash, enough to push the project ahead, regardless of the current market situation. Allana’s results and potential have been noted by mainstream analysts and Salman Partners Equity Research has issued a ‘buy’ recommendation for the stock. Allana’s feasibility study also suggests some of the lowest CAPEX costs for a potash mine, the construction of which is estimated at less than USD$ 650 million with a mine life of 21 years and a 3.1 year credit payback period. The other big gainer for the week, ICP, issued an update last week related to progress at the Ochoa Sulphate of Potash (“SOP”) Project in Lea County, New Mexico. CEO and President Sidney Himmel said that the feasibility study will be completed on schedule within the next four months, reiterating that ICP remains on track to become “one of the lowest cost SOP producers in the world”. The favorable outlook for potash, meanwhile, was confirmed by Potash Corporation (NYSE: POT) whose CEO, Bill Doyle, expects rising prices for potash fertilizers in the coming months, hitting a spot price target of about USD$ 470/ton in Southeast Asia for the third quarter of 2013.
In Brazil, another of the most prolific markets in the near and mid terms, the price hit USD$ 450/ton. In the second half of 2012, China and India’s reluctance put strong pressure on world markets; however, since the start of the new year, spot prices have increased by anywhere from USD$ 50/ton to USD$ 70/ton. Meanwhile, farmers have noted generally good harvest revenues, which should continue to boost demand for potash fertilizers, even if the cost of building new mines would remain very high. In the longer term, there is little to doubt about the growing importance of potash. It is not feasible to expect the emerging powers to avoid a change, or an evolution, in their populations’ eating habits. It is far more advisable, ion meeting the new challenge of changing diets and growing population, to increase agricultural yield or boosting soil productivity. This begins with the use of advanced agricultural technology and soil-fertilization techniques. The industry has been experiencing a market ‘valley’ of sorts, up and down; the perception of weaker-than-expected demand lingering from Chinese and Indian price pressures, are unlikely to persist in the medium or longer term and spare capacity will inevitably be needed in the not too distant future.
The higher prices would encourage companies to resume or complete work at deferred projects. The long-term outlook for potash is thus marked by growth, based in particular on the global megatrends such as population growth, increasing urbanization and the consequent change of eating habits and an increasingly scarce arable land availability.
63 cents!
Happy Memorial Day!!
ha! exactly.. 30s again is a pipedream
nice find
* Allana Potash : Paradigm Capital starts with buy rating; price target of C$1.35
https://research.tdwaterhouse.ca/research/public/Markets/NewsArticle/1314-L3N0E43GV-1
news:
Allana Potash Announces Approval of Its Environmental, Social and Health Impact Assessment by Ethiopian Ministry of Mines
TORONTO, ONTARIO--(Marketwired - May 22, 2013) -Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that the Company has received approval of its Environmental, Social, and Health Impact Assessment ("ESHIA") from the Ethiopian Environmental Protection Authority ("EPA") and Ministry of Mines and Energy (the "Ministry"). The approval of the ESHIA, prepared by Environmental Resources Management ("ERM"), is an important milestone to the granting of the Mining License for Allana's Danakil Potash Project.
Farhad Abasov, President and CEO of Allana commented: "Allana is extremely pleased to receive approval from the Ethiopian Authorities for the project ESHIA. Allana wishes to express its gratitude to the Ministry and the EPA for recognizing the extensive ESHIA study undertaken by ERM over the past 18 months. This approval marks the culmination of numerous environmental and social studies, extensive stakeholder cooperation and reflects the strong commitment Allana has to Ethiopia and the Ministry has to foreign investment."
The groundwork was laid for Allana's ESHIA work some two years ago when the International Finance Corporation ("IFC") acquired approximately 4% of Allana pursuant to a private placement financing. Since that time, Allana and IFC have worked closely to implement management and action plans and to meet IFC Performance Standards.
Approval of the ESHIA is conditional on the fulfillment of several action plans, most of which are identified in the ESHIA and already in place. These include monitoring ground water in the region (ongoing), resettlement of two small villages (in progress) and a commitment to community development (part of Allana's Community Development Plan).
Approval of the Company's ESHIA is necessary for the granting of a Mining License in Ethiopia. The Ministry continues to review Allana's application for the Mining License and meetings last week in Ethiopia indicate significant progress has been made in the evaluation of the Company's Feasibility Study. While this work is ongoing, Allana is optimistic that the granting of the Mining License will occur in the next few months.
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the acquisition and development of potash assets internationally with its major focus on a previously explored potash property in Ethiopia. Allana has secured financial support from two significant strategic investors: IFC, a member of World Bank Group, and Liberty Metals and Mining, a member of Liberty Mutual Group. Allana has measured and indicated Sylvinite resources as at February 2, 2013 of 327.42 million tonnes of 28.31% KCl; and inferred Sylvinite resource of 90.76 million tonnes grading 27.80% KCl, (see Allana's Technical Report entitled "Summary of the Feasibility Study for a Solution Mine on the ALLANA Potash Project, Danakhil Depression, Afar State, Ethiopia" dated March 19, 2013, effective February 4, 2013). In addition, the Danakhil Projects hosts measured and indicated Kainitite resources of 701.55 million tonnes at 20.26% KCl, inferred Kainitite resource of 373.71 million tonnes of 20.35% KCl; measured and indicated Upper Carnallitite resources of 78.5 million tonnes grading 18.4% KCl, inferred Upper Carnallitite resource of 155.53 million tonnes of 16.95% KCl; measured and indicated Lower Carnallitite resources of 269.10 million tonnes of 10.86% KCl, inferred Lower Carnallitite resource of 130.7 million tonnes grading 11.7% KCl. The foregoing mineral resource estimates with respect to Kainitite and Carnallitite are as at April 27, 2012. For more information with respect to the data verification procedures undertaken and the key assumptions, parameters and risks associated with the foregoing estimates refer to Allana's Technical Report entitled "Updated Resource Report for the Danakhil Potash Deposit, Afar State/Ethiopia" dated June 13, 2012, effective April 30, 2012 and the Allana's Technical Report entitled "Summary of the Feasibility Study for a Solution Mine on the ALLANA Potash Project, Danakhil Depression, Afar State, Ethiopia" dated March 19, 2013, effective February 4, 2013. filed at www.sedar.com. Allana has approximately 276.5 million shares outstanding. Allana trades on the Toronto Stock Exchange under the symbol "AAA".
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this press release.
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
Allana Potash Corp.
Richard Kelertas
Senior Vice President, Corporate Development
514 717 6256
rkelertas@allanapotash.com