With everything coming to a head for construction, the TSP price made a new recent high last month and has now confirmed a new uptrend after it just jumped another 6.7% month on month in July according to data from the World Bank. TSP is the brown line and phosphate is the blue line in the charts below.
Zooming in to 5 years shows how much of an impact the fertiliser prices have had on Minbos's sp. Back in 2021 we were linked to the MAP price which surged with most fertilisers (MAP not shown on this chart) but we are now linked to the TSP price as a reference for our BPR selling price. Minbos's rise from 2c in 2021 began with a few months lag at the time that the phosphate price began to rise. The period during which Minbos's sp rose from 2c to 21c was close to in line with the rise in fertiliser prices. Minbos's sp peaked before phosphate and TSP but other fertiliser prices had already begun falling, giving an early warning that phosphate and TSP might turn too. The small cap sector had also already turned down sharply before the phosphate price peaked. Minbos's sp was also climbing at that time due to its advances in its main project development, including the scoping study, DFS and mining license award. The decline in the fertiliser prices coincided with a very steep bear market for microcap resource stocks and Minbos's delays added to the sp declines. The TSP price over that 5 year period rose from $240/t in June 2020 to $856/t or roughly 3.5 foldin April 2022. Minbos's sp climbed ten fold from 2c to 21c. The TSP price bottomed in June last year at $390/t. It is now at $505.80 up from $474 last month and $435 the prior month. If the TSP price continues higher, it should add to the strength of any uptrend in Minbos's sp that we should get with funding confirmation and the start of construction.
