Rock Phosphate continues to climb and is now at 136.9 US dollars per tonne. Any wonder IPL is ignoring the facts and trying to get its hands on the billions of dollars worth of Ardmore revenue. I reckon they are trying to get us back to the negotiating table. My understanding is that Ardmore is currently worth $100 million in an absolute fire sale. The market conditions would enforce an open and competitive sales transaction which would elevate the valuation to multiples of my fire sale estimate. The IPL execs who sold Ardmore to CXM are literally kicking themselves. I know this for a fact. We can all be hindsight heroes but this is a monumental mistake that the IPL execs have produced. All of the blue chip big time players are heading towards future proof resources and IPL sold out of one of the best in Australia and now want back in. Good luck as there is no chance.
It is fair to say that CXM’s positioning in rock phosphate and potash have been visionary and successful plays and that CXM was many steps in front of the global pack. The Leadership initially shown by Chrisp - and carried forward by Mencel - is fast tracking this micro cap into a big fish big pond player.
Annual Report out this week. Oxley results are imminent. Some outstanding reading and updates coming our way. Make no mistake, CXM is going to deliver some big time presents by Xmas.
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