Today's ASX announcement shows the Managing Director CEO buying 104,000 on market at $2.40. Director buying is always a good sign. If anyone understood this company, it has to be the CEO & I don't think he was trying to throw away over $240,000 when he purchased on 19/11/2008 at $2.40 in the market. His patience will eventually be rewarded. Farmers have no choice when it comes to using fertilizer for crops. Interesting complaints from farmers in last week's Weekly Times, saying fetilizer prices continual to remain high even though international prices have drop & lower prices are yet to be passed on to farmers. Guess it all comes back to how strong your business model is in controlling prices & when there are few suppliers, they have the power to say what price they will sell at. Farmers can in some cases delay purchases & hope for a drop in price, but eventually the fertilzer must be purchased to plant the crop. Regards Buffett
IPL Price at posting:
$2.65 Sentiment: None Disclosure: Held
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