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Tax man is going to love you!!!
LOL I thought maybe you had been out to a show when I saw that text
OK that decides it your paying for the golf not me!
HNU ng
taking profits is the name of the game too
Took one for the team eh Ed, first round is on me buddy
yup and apparently that kind of cash buys alot of sour grapes
Visitor in our back yard...
Case in point the big cross of shares today in KCL.
Someone who was out of the private placement announced today wanted in.
Whoever sold is likely holding warrants now.
I am ready for the next time!
That buys three laptops!...
Prosys Tech has option to buy more Peak shares
2008-02-20 08:26 MT - News Release
Mr. Georges Hebert reports
PROSYS ANNOUNCES AN OPTION TO INCREASE ITS PARTICIPATION IN PEAK POSITIONING CORPORATION
Prosys Tech Corp. has an option to subscribe to additional common shares in the capital of Peak Positioning Corp., in which it already holds an important position in the shareholding. This option is up to a maximum of 50.1 per cent of the issued and outstanding common shares of Peak, at an exercise price of 75 cents per common share. This option enabling Prosys to become the majority shareholder of Peak is valid until Jan. 24, 2010.
"The investment in Peak enables it to pursue the development and commercialization of its wireless laptop computer security modules and asset recovery services. Moreover, it enables Prosys to offer efficient wireless laptop computer security and asset recovery services to its clients," declared Georges Hebert, president and chief executive officer of Prosys.
About Peak
Peak Positioning Corp., a Montreal-based start-up company, has partnered with global leaders in the field of wireless communications to develop a portfolio of wireless security and asset recovery services for the laptop computer industry. The services will include using wireless communications to disable and retrieve lost or stolen laptop computers.
Interesting stuff, thanks for the analysis.
On a positive note they have the site linking from "isxresources" "potash1" and "potashone"
OK I will supply the balls...
Sounds good!
So are Pat Metheny fans called MethHeads?
IndieMV Appoints Former ICM Executive as Company's New CFO
2008-02-21 05:00 MT - News Release
CFO Brings Extensive Network of Entertainment and Publishing Contacts to Entertainment-Based Social-Networking Company
LOS ANGELES -- (Business Wire)
IndieMV Media Group, Inc. (OTCBB: IDMV) today announced the appointment of its new CFO, Tim Flanagan. The announcement was made by Ricardo Khayatte Jr., CEO of IndieMV.
For the last sixteen years Tim has worked at International Creative Management (ICM), a full service major talent agency with offices based in California, New York and London. In Tim’s most recent position at ICM, Tim served as Administrative head of their New York office. Tim also supervised Information Technology, Facilities and Human Resources and worked closely with the Agent Department heads in the areas of Publishing, Motion Pictures, Television, Music, and Commercials.
Mr. Flanagan is a Certified Public Accountant with a Masters Degree in Taxation. He has had an extensive and successful career in all aspects of both Finance and Administration. He began his career with the Public Accounting firm Ernst & Young, and then spent the next ten years working for the New York Times Newspaper holding a wide variety of financial positions within the organization.
"We are pleased to welcome Tim to IndieMV," stated Mr. Khayatte,. "We believe that Tim's accounting and financial expertise, combined with his vast experience and numerous contacts in the Entertainment and Publishing Industries make him an ideal addition to the IndieMV Management Team."
I like the looks of that! Maybe Don Coxe finally took a position
I am quite sure it took him longer to ask you to provide him the link than it did for me to cut the headline plug it into google and come up with the link.
re the other link it has to do with the fact most people who want to learn about potash will plug it into google to find out about it so it would be nice to see Potash One in thier face when they do unless you dont own any Potash One and dont need anyone to sell it to.
Google is a big part of my dd and responsible for finding KCL at .60 in the first place but not part of how I rate stocks either.
IndieMV Media Group Inc. Becomes New Name of Jake's Trucking International and Receives New Trading Symbol
2008-02-19 05:00 MT - News Release
Also News Release (U-JKTI) JAKE'S TRUCKING INTERNATIONAL NE
LOS ANGELES -- (Business Wire)
IndieMV Media Group, Inc. (OTCBB: IDMV) is the new official name and trading symbol for Jake’s Trucking International. The Company’s new trading symbol, (OTCBB: IDMV) is effective today.
Fueled by our partnerships with world-class record and management companies, wireless communication companies and major sponsorship corporations, IndieMV is an entertainment based social-networking portal that will grow from its niche, music-based roots into a global provider of online services catering to an interconnected web of music and entertainment enthusiasts around the world.
Recognizing that technology is encroaching upon the traditional systems of music distribution, IndieMV will distinguish itself by utilizing the power of social-networking to provide a new and innovative approach in bridging the gap between artists, fans and music lovers alike.
The Company has launched its first web property, www.IndieMV.com, an online, social network and store dedicated to bringing musicians and community together. IndieMV.com is not only a marketplace for musicians but also a social networking service for students, music lovers, and users that simply want to connect.
About IndieMV Media Group Inc.
Please visit http://www.IndieMV.com
BUCKETHEAD
Iggy in Toronto lol
A student who doesnt Google? my my :)
http://www.google.ca/search?hl=en&q=Construction+waste+recycled+on+area+farms&btnG=Search&meta=
I am not overly impressed by this, any of the posters here could have written that three months ago and most of it could have been written nine months ago.
It would get pretty boring reading that over again every week. We need some developments beyond appointing former Energy Metals execs but it will take time.
I think things are moving along behind the scenes, but for now we drift along in the ag current with the other plays.
interesting Google "Potash"
1st hit Potash Corp
3rd hit Agrium
7th hit Athabasca Potash
Potash One? page 3 beating out Anglo and Raytec ya!
No kidding, wish I had bought some!
I like this part...
Management is looking forward to working with Bill to develop strategic opportunities with his network in Asia.
Zeox receives first ZMM-ZeoFume commercial order
2008-01-31 05:13 MT - News Release
Mr. LuVerne Hogg reports
ZEOX COMMENCES SALES OF DOWNHOLE CEMENT PRODUCTS
Zeox Corp. has received its first commercial order for its patented ZMM-ZeoFume for downhole cement formulations. The product will be used in a beta trial for the completion of a number of oil and natural gas wells in Western Canada in February and March of 2008.
The ZMM-ZeoFume used in formulations offers high strength, high yields and variable densities for improved hydraulic isolation across and near pay zones. This product has excellent potential for large scale acceptance in the Eestern Canadian basin and Western United States.
The order was placed by a company engaged in the completion of oil and gas wells globally. In 2007, Zeox built and acquired the zeolite resources, mining, production and distribution capability required to commercialize these and other zeolite products, domestically and internationally. The company's facilities in Nevada and Arizona are currently producing ZMM-ZeoFume. The company's Montana processing facility will be on-line in April, 2008, to produce this product line for Canada and the Northern United States markets.
As a result of collaborative work, Zeox has a licence agreement with the National Research Council of Canada for United States patent No. 5,494,513, Canada patent No. 2180483 and Mexico patent No. 195989 for Zeolite-based lightweight concrete products. The company strengthened its patent rights in June, 2007, when it received non-exclusive worldwide licence rights to globally commercialize five patents related to zeolite-based lightweight concrete products for use for application in the oil and gas completion industry from Halliburton Energy Services Inc.
Add Guyana to that list ACADEMY VENTURES INC. - http://www.academyventuresinc.com
see previous posts
Academy Ventures says resources not NI 43-101-compliant
2008-02-08 08:26 MT - News Release
Mr. Ioannis Tsitos reports
NEWS RELEASE CLARIFICATION ACADEMY VENTURES EXECUTES LETTER OF INTENT TO ACQUIRE BONASIKA Ltd AND ITS BAUXITE MINING & EXPLORATION ASSETS IN GUYANA
Academy Ventures is presenting a clarification in relation to the company's news in Stockwatch dated Feb. 7, 2008, about the execution of a binding letter of intent with Bonasika Ltd., the 100-per-cent holding company of Guyana Industrial Minerals Inc. (Ginmin). Ginmin is the holder of specific mineral titles in Guyana issued by the Guyana Geology and Mines Commission and the Minister of Mines of Guyana, as referred in the company's news release.
Data reported in the news release in relation to existing bauxite tonnage in the properties, have been provided by Ginmin. Most references to resources are classified as historical mineral resource estimates, and as already reported in the news release, estimations are based on historical drill holes by Demba, a Guyanese subsidiary of ALCAN, or other credible sources.
It must be noted that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon. The Bonasika feasibility study is not compliant with regulations and is intended for internal company use only.
Academy would like to re-enhance the fact that Bonasika will commence immediately the preparation of a National Instrument 43-101-compliant engineering report on the properties owned by Ginmin, as specified in the executed letter of intent. The report and consent of an independent qualified person will be submitted to the TSX Venture Exchange in conjunction with seeking its acceptance to the transaction within 45 days.
The company's qualified person and company's director is Egil Livgard, PEng.
Academy to buy Bonasika
2008-02-07 13:39 MT - News Release
Mr. Ioannis Tsitos reports
ACADEMY ACQUIRES BAUXITE ASSETS IN GUYANA
Academy Ventures Inc. has executed a binding letter of intent (LOI) with Bonasika Ltd., a British Virgin Islands-registered company, pursuant to which Academy will purchase from the shareholders of Bonasika all of the issued shares of Bonasika. Bonasika is the holding company of Guyana Industrial Minerals Inc. (Ginmin) of Georgetown, Guyana, with Bonasika actually holding 100 per cent of the issued shares of Ginmin. Upon successful completion by the parties of their due diligence reviews and upon receipt of the necessary regulatory approvals, the parties will execute a definitive agreement.
Pursuant to this transaction, the holders of the Bonasika shares will receive 4.5 million Academy shares from its treasury. In order to satisfy regulatory requirements, Bonasika will commence the preparation of a satisfactory business plan and audited financial statements as required by the TSX Venture Exchange. Additionally, Bonasika will commence the preparation of a National Instrument 43-101-compliant engineering report on the properties owned by Ginmin. The report will be submitted to the TSX Venture Exchange in conjunction with seeking its acceptance to the transaction. Academy and Bonasika have agreed to proceed diligently and in good faith in order to complete the transaction before April 30, 2008, or such other date as may be mutually agreed upon, and subject to the receipt of all necessary regulatory approvals.
Ginmin is a private company, incorporated under the laws of Guyana in 2000 for the purpose of exploring and developing Guyana's bauxite, silica sand and other industrial mineral resources. Ginmin's chief executive officer, Hilbert N. Shields, is a geologist and entrepreneur with over 28 years experience in the mining and exploration business. Ginmin is the holder of the following mineral titles in Guyana issued by the Guyana Geology and Mines Commission and the Minister of Mines of Guyana: the Bonasika mining licence, the Waratilla-Cartwright prospecting licence, and the Essequibo-Demerara (Esse-Dem) permission for geophysical and geological survey (PGGS).
The following information has been provided by Ginmin and will be the subject of the National Instrument 43-101-compliant qualifying report, a report which will commence shortly over the properties, as mentioned above.
Bauxite is best known as the principal raw material of aluminum metal, however, there are non-metallic uses of bauxite in chemical applications and the manufacture of refractory products, proppants, abrasives and cement.
The Bonasika mining licence covers three mining leases, 928 acres in size, located only 75 kilometres from Guyana's capital, Georgetown, 45 kilometres from the Timehri International Airport and 30 kilometres from the navigable Demerara River. The mining leases encompass three adjacent deposits: Bonasika 1, 2 and 5. They are fully permitted mining licences with an approved environmental impact assessment and they are virtually ready to go into mining. This mining licence was granted in May, 2001, and is valid, initially, for 15 years, after which the company shall have the right to apply for a renewal of seven years. A detailed feasibility study is available. The three Bonasika deposits are unique in Guyana in that they occur at or very close to surface (zero to 10 metres of overburden). Together, they host approximately five million tons of bauxite with more than 45 per cent Al2O3, including approximately 800,000 tons of chemical-grade bauxite (CGB), as outlined by historical drilling by Demerara Bauxite Company (Demba), a subsidiary of Alcan, and more or less confirmed by more recent drilling and trenching by Ginmin. Ginmin plans to start mining the Bonasika 1 deposit in 2009 at a rate of 200,000 tonnes per year, and plans to sell dried bauxite into the cement (cement-grade bauxite (CemGB)) water clarification and proppants manufacturing industries in the southeastern United States.
The Waratilla-Cartwright prospecting licence has a size of 9,884 acres and is located seven kilometres from the Bonasika mining licence. It was again drilled by Demba. The Demba drill logs and plans on which it based historical and traditional reserve estimates of 13.13 million tons of refractory A Grade super calcined bauxite (RASC) and 4.39 million tonnes of metallurgical grade bauxite (MAZ) were retrieved from the archives. Using the same, archival, 68-Demba-drill-holes database (in excess of 6,000 metres), and defining MAZ as bauxite with greater than 50-per-cent available alumina, less than 7.5 per cent reactive silica and less than 3.5 per cent iron, with approximately 31 drill holes intersecting economic bauxite, Ginmin calculated a global MAZ resource of 28 million tonnes in this deposit. Within this global MAZ resource of 28 million tonnes are eight million tonnes of chemical-grade bauxite (CGB). Ginmin has designed an 18-month exploration program and budget to complete a bankable feasibility study on the viability of mining this deposit. With Waratilla-Cartwright having very similar geological operating characteristics to the existing Bosai Mine at Linden, it is Ginmin's opinion that the Waratilla-Cartwright mine can be started up as a phase II mine supplying MAZ bauxite to any of the known alumina refineries in the region, as well as increased tonnages of CGB and CemGB.
The Esse-Dem PGGS is huge and covers two million acres of Guyana's highly prospective coastal bauxite belt. It is located northeast of the traditional mining centre of Linden through to Charity at the head of the Pomeroon River. This PGGS was granted in September of 2007 and has a three-year life, with an obligation to relinquish 25 per cent of the area every year. Ginmin has the right to apply for, and be granted, up to 20 prospecting licences at any time during the three-year period. The PGGS is for the rights to explore for, and mine, with the grant of a mining permit, bauxite and all aluminous ores, kaolin and all commercially exploitable clays, silica sand, all rare-earth minerals, nickel and nickel laterites, uranium, and base metals. The Esse-Dem PGGS does not host any drill-indicated reserves. However, it covers the area of the Pomeroon and Essequibo group of the coastal belt bauxite deposits where there are significant numbers of showings, some of which have been historically documented by Bleakley in BGGS bulletin No. 34 of 1964: "In the Pomeroon area, bauxite pebbles assaying up to 57 per cent Al2O3 were reported as far back as 1916. In the Supenaam River-Blue Mountains area, bauxite near Chalk Hill assayed 58.7 per cent Al2O3 and pisolithic bauxite assaying 60.96 per cent Al2O3 was discovered near the Groete Creek area. Blind-blanket drilling by Harvey Aluminum Company in this area yielded two ore-grade holes. Also, drilling by the same company in the small plateau forming the eastern end of the Blue Mountains consisted of 65 holes, all of which penetrated material of commercial grade."
The proposed exploration program consists of compilation into a modern GIS database of the considerable historical data, geomorphologic and paleo-landform studies, orientation ground geological and geophysical surveys in the Waratilla-Cartwright area, airborne geophysics over the larger area followed by ground prospecting, and eventually diamond drilling of selected targets. This program is designed to be undertaken in phases over the three-year period. Once the prospecting licences are granted, systematic exploration consisting mostly of diamond drilling, metallurgical testing and engineering work will have to be done to economically define all the discovered orebodies.
Academy Ventures' president, Ioannis (Yannis) Tsitos, on this major acquisition, stated:
"Guyana is a stable democratic country and the only English speaking country of South America with a legal system based on English common law. It is known that Guyana has a long mining history and, more especially, a long history of high-quality bauxite production. Subject to the successful conclusion of the transaction as discussed above, it is my view, as well as our board's opinion, that the acquisition of Bonasika Ltd., with its mining and exploration assets in Guyana, provides to Academy a platform of significant growth, discovery and mining potential. We recognize that today's small-cap mining company investor appreciates a company with a focused approach, but with multiple project exposure throughout the exploration pipeline, from greenfield exploration to advanced projects and potential earnings via small scale mining, and that is certainly what this transaction offers. We are glad and hold an overarching desire to be part of a development which will be profitable to the company's shareholders, and can also make a significant contribution to the development of Guyana and of the Guyanese people."
Upon the closing of the transaction with Bonasika as discussed above, Academy appointed Mr. Shields as chief executive officer and also to its board of directors. Academy also announces that following the closing of this transaction, Charalambos (Harry) Katevatis will resign as chief executive officer, but he will remain a director of the company.
Mr. Shields, MSc, has over 28 years experience in the mineral exploration and mining industry, the core years consisting of 14 years with Golden Star Resources Inc. as vice-president, with responsibility for gold exploration in Guyana and Venezuela and diamond exploration worldwide. Mr. Shields managed the exploration of the Omai gold deposit in Guyana, from acquisition by Golden Star through to the completion of the feasibility study, with the involvement of Cambior, and later became a director of Omai Gold Mines Ltd. He was also responsible for the acquisition by Golden Star of the Gros Rosebel property in Suriname and managed the early exploration of this, now Iamgold Inc.-operated, producing mine. He was also a member of the successful acquisition and transition management team of the Bogosu mine in Ghana, again for Golden Star.
Mr. Shields attained a bachelor's degree in geology and the environment from Oxford Brooks University, U.K., and a master's degree in geology from the Mackay School of Mines, University of Nevada, Reno, U.S. His career has been spent acquiring global experience through exploring, evaluating prospects, and/or mining either gold, diamond or bauxite in a number of countries including Nicaragua, Suriname, U.S., Canada, Philippines, Guyana, Venezuela, French Guiana, Brazil, Peru, Bolivia, Ghana, Sierra Leone and Ivory Coast. He spent two years with the mineral deposits section of the Ontario Geological Survey before joining Golden Star in 1986. In 2000, he resigned from Golden Star and founded his own companies holding bauxite and gold mining and exploration concessions in Guyana. In late 2001 to early 2002, he was attached to the Adam Smith Institute of the U.K. to provide consulting services to the government of Guyana as they consolidated operatorship of the Berbice River bauxite mines. For two years, from 2002, he was a senior member of the management team of the Aroaima Bauxite Mining Company, which produced 1.2 million tonnes per year of metallurgical-, chemical- and cement-grade bauxite. Mr. Shields was also the chairman of the mining chapter of the National Development Strategy, a Carter Center-financed, private-sector blueprint for the development of Guyana, which was adopted by its national parliament. Academy Ventures' president, Mr. Tsitos, about the new chief executive officer-appointment, stated: "We are very pleased and fortunate to have Mr. Hilbert Shields joining our board, as the new CEO of the company. Mr. Shields brings to Academy a unique blend of global experience in mineral exploration, operational project management, business development, and an entrepreneurial flair for project conception and execution, especially in the Guiana Shield. This skill set will serve the company very well in its endeavour to focus on both the mining and the exploration for bauxite, gold and/or other commodities within this specific geographic region."
Hi Aaron,
I started a board last year for Aluminum http://investorshub.advfn.com/boards/board.asp?board_id=8870
Made a few $$ on a Canadian junior with a bauxite project in the Boke bauxite belt, in northwestern Guinea, West Africa.
Navasota Resources Ltd. - http://www.navasota.com
Saw some smoke this morning and this is what I found.
I was told everybody got out safe, not the car though...
HTC Hydrogen advertises C02 capture product
2008-01-29 10:28 MT - News Release
Mr. Jeff Allison reports
HTC PURENERGY TO LAUNCH, NEW CO2 CAPTURE SYSTEM IN ALBERTA
HTC Hydrogen Technologies Corp. has launched the world's first modular, pre-engineered carbon dioxide capture system, called the "Purenergy CCS 1000."
The Purenergy CCS 1000 is a stand-alone carbon capture system that will capture CO2 from the flue gas exhaust of power plants, oil and gas processing facilities, and large industrial emitters. The captured CO2 will be used for CO2-enhanced oil recovery or be stored geologically. The Purenergy CCS 1000 will be pre-engineered, prebuilt and modularly constructed by HTC's strategic partners Pinnacle Industrial Services of Regina and NuVision Industries of Carseland, Alta., using technologies developed and validated for over 12 years at the University of Regina. The system will be capable of capturing 1,000 tons per day of CO2, and because of its modular design, will be able to be manufactured, shipped and erected at the emitter site at a much lower cost than other systems that have to be custom-built on-site.
HTC's chairman and chief executive officer, Lionel Kambeitz, commented: "HTC's Purenergy CCS 1000 has been designed to substantially reduce the cost of CO2 capture. Our company has had a significant amount of prelaunch interest worldwide for the product. HTC is advantaged by commercializing the world-leading technology developed at the Green House Gas Technology Centre at the University of Regina. We have been developing Team CO2 through employing and engaging the many skilled graduate and doctorate students, as well as researchers from the University of Regina. We will now continue to expand highly skilled opportunities in Saskatchewan and Alberta to satisfy the engineering, building and commercializing of this new CO2 capture system. By applying world-leading CO2 capture technology with the reduced costs of a pre-engineered, modular system, we believe we will have the lowest cost CO2 capture solution."
Belarusian Potash Company raises prices for exports to Sri Lanka
Belarusian Potash Company raised the prices for the deliveries of potash fertilizers to Sri Lanka by $50 up to $550 per tonne, BelTA was told in the public relations department of the company.
“Winning a tender to supply potassium fertilizers to Sri-Lanka enabled BPC to raise the prices for the products of the Belarusian and Russian potash companies exported to Southeast Asia, the company said. After winning the tender the company concluded several new contracts to supply potassium fertilizers to Indonesia and Malaysia at the price of $550 per tonne. Overall volume of supplies to these three South-East Asian countries amount to 100,000 tonnes.
A reminder, in December 2007 the Belarusian Potash Company announced a $100 increase in the prices for Southeast Asia markets up to $500 per tonne. According to the company’s general director Vladimir Nikolaenko, the demand for potash fertilizers is strong, with the deficit remaining high and being estimated at 1.5 to 2 million tonnes. In 2008, the prices will continue growing as the output will edge up a little.
Belarusian Potash Company is an exclusive supplier of potash fertilizers produced by Belaruskalii and the Russia’s Uralkalii to the international market. The company sells its products to Africa, Europe, India, China, the USA, the Pacific region, Central and South America. The company has a well-developed distribution network and representative offices in Beijing (China), New Delhi (India), Singapore, San Paulo (Brazil) and Chicago (USA).
AMENDED IPO FILING: Intrepid Potash
Intrepid Potash, Inc. is closer to an IPO as it filed an amended IPO filing this morning. The targeted proceeds from common stock issuance are not specified, however, it has applied to trade on the New York Stock Exchange. The underwriting group is listed as Goldman, Sachs & Co., Merrill Lynch & Co., and Morgan Stanley.
Intrepid Potash claims to be the largest potash producer in the United States and supplies an average of 8.5% of potash consumption in the U.S. annually and 1.5% globally. Potash is composed of potassium, one of three essential nutrients for agriculture. Significant barriers to entry exist in the industry because deposits are rare and geographically concentrated. Intrepid owns 5 potash production plants in New Mexico and Utah with the capacity to produce 1.2 million tons of potash each year. They plan to expand production by 370,000 tons per year over the next 5 years. Increased demand for potash, combined with a limited supply, recently increased prices dramatically. In the last 3 months, Intrepid saw prices increase by 80%, up to $397 per ton. They reported net sales of $140.1 million and net income of $23.1 million at an average of $185 per ton for the nine-month period ended September 30, 2007.
With demand projections likely to continue to increase and Intrepid’s strong position in the potash market in the United States, this may be one IPO that actually goes public and comes out as a hot IPO despite the recent wave of IPO withdrawals.
Phosphate crisis demands more phytase 14 feb 2008
Microbial phytases have been used for almost 20 years in animal nutrition to release plant-bound phytate phosphorous. Phytases become more important as phosphates become scarcer.
Phytases in diets for monogastric animals can contribute significantly to overcome the current shortage in feed phosphates, according to The European Feed Additives and Premixtures Association (FEFANA). At present in most of feeds standard phytase dose rates are used to replace up to 4.4 kg MCP or 6.4 kg DCP. As shown in numerous trials, increasing phytase above these standard levels, which is already authorized under EU law, can allow higher amounts of inorganic phosphates to be substituted.
Overcome shortages
The overall use of microbial phytases in monogastric feed, combined with an increase in dose rates, are an attractive option to supply more digestible phosphorous to livestock and to overcome the shortage in mineral phosphates without imposing an additional risk to the environment and the food chain. The significant reduction in phosphorus and trace element excretion by the animals would also be relevant.
Increased demand
The current scarcity of feed phosphates seems to find its roots in several factors.One factor is the new demand for biofuel crops, which has led to a sharp increase in the acreage of cereal crops being planted, and consequently in the amount of fertilizer being used. Secondly, the increased standard of living in countries such as India and China comes with all kinds of side-effects. For instance, more people can afford to use commercial washing powders, and since phosphates are used in washing powder, this represents an additional requirement for a product that is already in short supply. Also the rock phosphate reserves in Morocco and Tunisia are running low; some scientists are warning that this could happen in less than a hundred years.
UBS readies $3b fertilizer float
Defiant in the face of a depressed stockmarket, UBS is busy this afternoon trying to sell a $2.5 billion to $3 billion fertiliser float on a bullmarket PER ratio of 14 to 17 times earnings.
``Hasn't anyone told them it's a bear market?'' quipped one fund manager. ``They'd have to price it on ten times to get us in.''
Burrup Holdings is Australia's only merchant ammonia producer with a 760,000 tonne per annum downstream ammonia processing plant on the Burrup Peninsula in Western Australia.
Presently, the plant is owned 70 per cent by the Burrup Trust and 30 per cent by Norwegian fertiliser giant Yarra.
Burrup has long-term off-take agreements with Yarra and a 25 year gas supply deal with the Harriet joint venture.
UBS is trying to raise $500 million to $608 million for a market cap of $2.5 billion to $3 billion. Net debt is $391 million.
While fertiliser prices having been strong, the vendors may struggle to raise their maximum proceeds and could face some opposition from funds on pricing - such is the extreme caution right now among the institutions.