Over a year ago a insightful investor asked this question. IPL had just turned down a rumoured $700m offer for its Fertilizer business and the investor questioned the wisdom of this in light of the anticipated impact of LCK's urea production at substantially lower cost. I recall the outrage of certain IPL investors to that post. Well here we are. No $700m, a $180m cleanup bill and a urea business that now will depend on importing high priced $700/t + urea which is supposed to compete with an LCK production cost of $110/t. I'm sure the Board and the CEO will convince the company's shareholders why this is a great deal. I note the seller lining up this morning. If this is the caliber of the Board which LCK is in competition with, as an LCK holder I would urge the IPL shareholders to please keep this Board for as long as possible.
IPL Price at posting:
$3.13 Sentiment: None Disclosure: Held
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