Thanks to needle from MNB thread,post number #8459500,
Those 2 big North American fertilizer producers suggesting a strong pick up in demand for phosphate products....when they released their June quarter results.
Backed up here again from the well know commodity trading site Alibaba. "Wanted to buy phosphate" requests listed here in the last month alone,.....probably about Minbos total annual production.
Alibaba is now a good size public company in Hong Kong. They got some notoriety 10 years ago, when smaller China steel mills and iron ore traders started using their platform to purchase iron ore, at what became know as "spot" prices.
Some 5 or 6 years later, "spot" pricing was to replace the age old process of negotiated annual iron ore pricing, with Japan steel mills, as of 1 April each year. Ironic that now BHP, RIO and Vale who pushed so hard for spot, now would probably prefer the old approach.
Anyway comments just in passing....however indictes Alibaba is very credible...rock phospahte wanted to buy enquries are real from established certified buyers. thatys just buy the buy....point is Alibaba has cred ____________________________________________
So maybe an offtake agreement isnt necassary,given the action on the spot market,from a funding point of view however an offtake agreement would make the bank managers happier. As per the latest presentation Arganara is 120 Ks from the rail link, perhaps NUP can secure an easement from rum and make the journey to the rail head a bit shorter.
Raider
NUP Price at posting:
2.0¢ Sentiment: None Disclosure: Held
