North africa phosphate price confirmed at USD152.50 per tonne for the past month in the latest World Bank pink sheet.
That despite a glut in that market created by disruption in the Red Sea.
Does not account for premium in the Asian / ANZ market at roughly 30%.
Gold broke out. Oil and energy breaking out. Copper and basic materials breaking out.
At the very conservative USD152.50 per tonne, exchange rate of 66c, and cost AUD170 per tonne, this company will be making almost annualised AUD40 mln profit by the end of this year. It is currently valued at just over AUD50mln.
Should generate enough cashflow to buy AEV by the beginning of next year or start paying dividends.
CXM Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
