To show you how bad the market is right now, see this from another company, Potash, and less shares out:
XXXXX Corp. has received a positive feasibility study from AMEC Americas Ltd. on the company's 100-per-cent-owned XXXXXXX property in Southern Saskatchewan. The study confirms that the asset is of sufficient size and grade to support primary and secondary potash solution mining for more than 40 years at an ultimate production rate of 2.8 million tonnes per year. The study included detailed capital expenditure and operating expenditure estimates with a production start-up in 2016.
The study reports that the resulting after-tax project net present value is $2.44-billion, with an internal rate of return of 18.6 per cent, assuming a nominal discount rate of 10 per cent. On a before-tax basis, the project yields an NPV of $3.6-billion and an IRR of 21 per cent.
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The stock trading near AAA's price is up 3 cents on the news. So AAA is going to have BIG news like a buyout, as I do not believe the feasibility study will do anything more than pop the stock for a day or two.
