I thought they stated that it was due to something in Namibia.gone into a trading halt this morning, during the end of the spp.
hope it doesnt last long. isn't this a bit odd?
I thought they stated that it was due to something in Namibia.
Not giving any clue to it is a bit weird.
They could have said resources, or JV partner, or something, but nada.
I am a long time MAK watcher and investor (first bought in Feb 07), but have been completely out for about a year. I posted a chart similar to this some time ago which shows a clear trading range, which can be traded, but for longer term buy and hope investing is not worth being involved in, imo, until that 75 ish line is broken.Hey, since noone has posted on this stock for a while i guess i will.
MAk has been on the decline recently despite growth in commodity prices and the general market. There has been no negative announcements yet the SP of MAk has been steadily declining as well as low volumes? anyone have any ideas as to why?
Hey, since noone has posted on this stock for a while i guess i will.
MAk has been on the decline recently despite growth in commodity prices and the general market. There has been no negative announcements yet the SP of MAk has been steadily declining as well as low volumes? anyone have any ideas as to why?
Reap a harvest from patience PURE SPECULATION:
Robin Bromby | October 26, 2009
FIRST, some words that normally send shivers down the spine of your average resources share buyer: think long term. Apologies if, by uttering that ugly concept, we've given anyone a nasty turn over their morning soy or skinny lattes.
The UN now puts the number of people who don't get enough to eat at 1.02 billion. At the same time, prices of the two fertiliser feedstocks -- potash and phosphate -- are in the basement. Last week Potash Corp of Saskatchewan, the world's biggest miner of that mineral, posted an 80 per cent profit fall.
Nearly half the company's mining capacity is lying idle. One of Russia's largest potash producers is working at about 60 per cent capacity.
Meantime, we're seeing increasingly dire warnings about food shortages around the world. This will be worsened by the fact that farmers in the developed world -- the US particularly -- have been cutting back on fertiliser use because of financial problems and the fact that they can't borrow money to buy it. The bottom line is that there is no way that world food production can be lifted without chemical fertilisers.
Paul Deane, rural economist for ANZ Bank, says in his latest fertiliser report that global markets for the product have been in disarray for a year. India is the only country consuming potash at anywhere near the levels of last year and has just negotiated a new import price more than 20 per cent lower than its 2008-09 contracts. He notes that China is likely to be able get a big price drop for its new import contracts.
(Continued at link below)
Might also just be following the majors in the Potash world. Potash of Sasaktchewan (POT.TO) have recently started turning up. The charts of MAK and POT overlay reasonably well, with the exception so far of the recent turnup in POT.
A major milestone will be attained on Monday, 23 November, when the Wonarah Environmental Impact Statement goes on public exhibition and is lodged with the Northern Territory Government for its consideration.
MARKETING
India is the largest importer of rock phosphate and positive meetings were held with major fertiliser manufacturers there earlier this month. High level follow-up meetings are scheduled for early December. Overall markets and prices remain weak but the industry expects them to rebound. Difficult harvesting conditions in North America, and poor weather in India and Pakistan are causing current concern about crop yields and grain prices have risen strongly recently. The world has been under-fertilising since the bubble in prices last year and will have to increase application rates so as to maintain optimum nutrient levels and maximise yields. Wonarah is on track to be in production in mid 2011 to sell into this anticipated demand
increase cycle.
How can they be on track for production when RP is going cheaper than the feasability study Opex?Just for your own records that last qote about being on track to production mid 2011 was a typo.MAK issued a statement correcting it to mid 2010
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