Shares of Western Potash spiked today, fueled by rumors that the development and acquisitions company could be at the center of a bidding war.
Articles Tagged "western potash"
Potash prices are still on the low side, and some fertilizer buyers are taking advantage of the opportunity to stock up on the much-needed fertilizer.
Western Potash (TSX:WPX) finalized its previously announced strategic investment with China BlueChemical and Benewood Holdings though joint venture company CBC Canada Holding Corp.
The Leader-Post reported that Western Potash expects that their deal with a Chinese JV company that will see them purchase a 20 percent stake in the company for $32 million will close later this week.
The Financial Post reported that some analyst feel that there is strong evidence that Western Potash's $32-million financing deal with Chinese companies was leaked in advance of their announcement.
he Financial Post reported that Western Potash's stock prices tumbled in Monday trading as much as 12 percent, pulled down by news of their sale of a major stake in the company to a Chinese JV firm.
Renewed Chinese and Indian potash contracts are building confidence in the potash market. Which projects will help supply future demand is still an open question as companies rush to bring supply online.
Western Potash (TSX:WPX) announced that they have received an Environmental Assessment Approval for the Milestone Solution Potash Mine project from the Government of Saskatchewan.
Western Potash Corp. (TSX:WPX, FSE:AHE) announced that they have enlisted UBS Securities Canada Inc. to assist them in the evaluation of financing alternatives for its Milestone property in southern Saskatchewan.
With potash contract prices dropping to the lowest level seen in years, the potash sector does not appear ready to rebound just yet.