Western Potash (T.WPX) up 22% on bidding war speculation-T.WPX-RIO-BHP-POT-Stockhouse news
Western Potash (TSX:WPX, StockForum), a Vancouver-based development stage potash company engaged in the acquisition, evaluation of Western Canadian potash mineral properties, received the first research update by Rockstone Research's mining analyst, Stephan Bogner on coverage initiated on February 19, 2014.
According to the news release, the update contains speculation on why Western Potash's Milestone deposit may fit senior mining entities such as K+S based in Germany or Rio Tinto (NYSE:RIO, StockForum), BHP Billiton (NYSE:BHP, StockForum) and Potash Corp of Saskatchewan (NYSE:POT, StockForum).
The release went on to quote some of the updated coverage on Milestone, “Weighing in Western Potash's favour is the fact that its world-class Milestone project in Saskatchewan boasts a projected annual production of up to 2.8 million tonnes of potash. As we laid out in our Initiating Coverage on February 19, 2014, Milestone has an anticipated minimum 40-year mine life with one of world's lowest projected production costs.”
In an article entitled "Roping in Canada for food security" published on March 1, 2014 by a leading Indian English-language daily newspaper, the Deccan Herald, it was speculated, “In the future greater potash supplies from Canada will also reach Indian shores via investments being made by companies like Rashtriya Chemicals and Fertilisers Limited which is looking to acquire a 40 per cent stake worth a billion US Dollars in a joint venture with Western Potash Corp for a new mine in Saskatchewan.”
Western Potash was in the news recently when the company reported AGM results two weeks ago.
Shares climbed 22.22% on news of the coverage to $0.55 per share.
Currently there are 226.3m outstanding shares with a market cap of $124.5 million.
http://www.stockhouse.com/news/natural-resources/...g-war-speculation |
