Ann: Inca to Cease Operations in Peru, page-19

Hi @Black Cat - ya gotta learn not to argue with the Alcacas - they team together and spit in your eye -- LOFL.

But I have to pull you up on one point - otherwise I always think your pragmatic and sometimes contrarian points of view are positives.

"............... pursue phosphate now given the collapse in the price"

The price of all kinds of phosphate fertiliser to the end user has held and is increasing steadily - it is like gold. However the spot price of phosphate rock to the miner has fallen sharply on some measures - but as always most was sold on long term contract.
The reason for the fall in spot was probably because convertors has stock and did not need to buy more than their contracted volume over a period of time.

In the chart you can see the effect of the fall in spot on the overall cost curve - but that has now lessened.

GO PHOSPHATE - Inca has a fortune in the stuff under the mattress.