120,000 tonnes per year at a conservative price of $600.00 per...

120,000 tonnes per year at a conservative price of $600.00 per tonne


= $72 million


I believe GLX have already been approached about their Sulphur and they will not have any problem selling it.

The market is there although if supply increases then lets say the price halves then they will only get approx $36 million.

Even if you devide that by say 300 million shares (allowing for a fund raising) then that alone equates to approx .12 cents per share but if it is more like $72 million then of course it will be .24 cents per share.


Correct me if I am wrong.


Sulphur price peaks
February 18, 2008: Sulphur prices touched $625 per ton (CFR) amidst huge demand and scarce supply conditions. Indian fertilizer companies such as FACT and Jayashree Fertilizer are about to close down plants due to scarce supply of sulphur, industry sources said.

A major fertilizer company in Eastern India is reported to have held back a shipload of sulphur purchased at high seas and paid a demurrage charge of Rs 2 lakh, looking at the shortage scenario. The company expected that sulphur prices are expected to come down once the refinery based in the middle-east starts to function. An analyst hinted that price might reach $300 to $350 per ton CFR in March 2008 if availability improves.

Last year, sulphur prices (FOB Vancouver) in December 2007 stood at $190 per ton.

Prices have reportedly jumped to the $300 mark in early 2008 as global project delays in oil and gas have constrained sulphur supplies in an environment of strong demand for diammonium phosphate fertilizer (DAP), reported the source.