SOP potashMe worried?No.
Why,because ICP's project is for producing
SOP potash.
Remember folks,Cantopex,Ukrali,Belarus potash,KRN,EPO,WPX,MAA,AAAetc,etc,etc.....they're all MOP potash.Looks like the world may soon be swimming in a sea of MOP potash with seemingly less MOP potash demand in the near term.
Meanwhile....SOP potash demand is increasing....and SOP potash supply is constrained with only a very limited amount of producers.From what I understand,historically, SOP sells at a 20-30% premium.....now I believe that its at an almost 50 % premium and i wouldnt be surprised to see that premium rise....
The smart money know's the difference between SOP and MOP potash.I can't think of another potash junior that has a higher percentage of institutional investors than ICP....can you?There's a reason why............
My opinion.
Look at the largest SOP producer(,based in the USA) in the Western hemisphere.
https://www.compassminerals.com/products-services/minerals/sulfate-potash/
With our companies Great Salt Lake Minerals Corporation and Big Quill Resources, Compass Minerals is the largest producer of sulfate of potash (SOP) in the Western Hemisphere.
Read their last Quarter results
https://phx.corporate-ir.net/phoenix.zhtml?c=148615&p=RssLanding&cat=news&id=1842147
SPECIALTY FERTILIZER SEGMENT
Specialty fertilizer sales were , down 22 percent from the second quarter of 2012. Sulfate of potash supply constraints resulted in a 22,000 ton reduction in sales volumes year over year. The company continued to focus its limited supply of specialty potash on its most valuable markets. As a result, average selling price rose to per ton from per ton in the prior-year period and in the first quarter.
EBITDA for the segment increased to from in the prior-year quarter through improvements in per-unit production costs and higher average selling prices, partially offset by lower sales volumes.