International stock news

Rss Today on Proactive AU

2015-07-07

Impact Minerals to shine with Platinum Group Metals find at Broken Hill

 
Proactive Investors forecasts for Impact Minerals a 12 month share price target of $0.04 per share with additional and very significant upside from ongoing exploration. Speculative buy.
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Rss Today on Proactive UK

2015-07-07

FTSE100 called to open higher as attention turns to emergency Greek meeting

 
Britain's top share index is called to open higher after falling yesterday as eyes turn to a crunch emergency meeting tonight over Greece...
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Rss Today on Proactive US

2015-07-07

Chinese gain strategic foothold in Saskatchewan potash market through bid for Western Potash

 
China’s Beijing Tairui Innovation Capital Management is reported as having made C$80 investment, 51%, in Western Potash Corp. (TSE:WPX) gaining control of the Canadian miner. The injection of funds and determination will bring the Western Potash’s Milestone project to production. The Milestone project is immediately adjacent to the Legacy project, both in Saskatchewan, being developed by Germany’s K + S, itself an acquisition target for Potashcorp. The Legacy mine is expected to enter production by the end of 2016, delivering a large tonnage and very low production costs. Western Potash is now a direct competitor of K + S, Potash Corp. and all other Potash producers. Last Thursday, Western Potash presented a new mine plan and a positive feasibility study, noting that the initial capital cost estimate could drop by a whopping 98% or from US$ 3.3 billion to US$81 million. The stock has started to increase sharply this morning, reaching C$0.33/share and not far from its 52 week high of C$0.40/share. The Chinese company will immediately finance the construction of the Milestone Potash Mine in Canada. The deal is subject to approval by the existing shareholders of Western Potash, who have until the end of August 215 to decide. But counteroffers may be proposed, shaking up the potash market this summer. China’s entry into the potash market could cause concern among the big players in the market. China is known to be the largest potash consumer world and will continue to have the highest demand for the foreseeable future. By acquiring Western Potash it would gain a significant say in the supply side, and this is one transaction that could have a significant effect on the market price, improving China’s bargaining position with potash producers in North America. Every year, either at the end or the start, large potash supply contracts are concluded directly between the potash mines and countries like China and India typically. The negotiations from the beginning of this year have already proven to be difficult, as China was willing to pay no more than US$300/tonne for the mineral fertilizer. The North American potash cartel Canpotex (PotashCorp, Agrium and Mosaic) remained firm, demanding an increase over the previous year, offering US$315/tonne, which the Chinese also grudgingly accepted. Now the cards are reshuffled - and China has a Saskatchewan ace up its sleeve.
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