Haven't posted on HC for a while but have been following all the action since mid 40s, remember those days, just a few weeks ago actually.
I just want to point out a few things with this interesting company. Firstly it is unreasonable for people to assume the sp goes up vertically day in day out at 30 to 40%. It's healthy for a stock to take a breather, having gone from 35c to $4 in the space of a month I'm pretty happy with a 10% drop to around $2.50. And it is volatile given the daytraders are all over it now, sometimes this can be good, today obviously not good. That's one of the annoying things about HC forum among it's many good features. Also with the meteoric stock price rise if you notice it was all controlled, nice 20 to 40% rises,not up 200% one day down 50 the next, it was controlled and measured.
I'm 99% sure it is the Satimola mine that Fortis are acquiring. Think about it, Satimola need to raise $100mil for an IPO in Hong Kong, Fortis strategic investment partner is in Hong Kong. Satimola need $100 million for start up, engineering, construction, design etc. Fortis have agreed to provide 40 million shares at some price, interstingly at today's price of $2.50 that equals exactly $100million. Satimola is in the West of Kazakhstan where Fortis potash assets are.
I'm holding tightly with this one, I wanna see what they've got!
Now you may say curiosity killed the cat, but satisfaction bought him back.
Cheers all, let's give management some benefit, look how far we've come in such a short time.
One week of DD while meeting Kazakh government officials is over, another week left till I anticipate Company update.
It's very interesting.
FMJ Price at posting:
$2.53 Sentiment: Hold Disclosure: Held
