RE: NEWS null market reaction (I would not call negative with this kind of volume of 7750 shares traded in 1h30) for the good news on recovery increase and reduction between phases. The plan is now growing from 1 to 4 Mtpy in 4 years...
I do think Cristiano's statement is very relevant:
"(...) ramp up to full production expected to be measured in weeks, versus underground potash mines that take around a decade from construction to full production"
I believe the market is still on "show me the money" mode... Verde has to clarify where the $868M will come from. This value is a small fraction of what BNDS is looking to invest.. at least from our corporate presentation:
"
The BNDES expects total investment in Brazil to reach $929 billion in the 2011-2014 period(...)
"
If they are successful getting financing with BNDS, 2015 starting date might be reviewed... and if the get this money, the equity funding will be just a fraction, meaning less dilution...
But many Ifs... I believe we'll just see big guys confortable with NPK after FS by year end.
(they improved a lot the PR if compared with the last one btw...)
JMHO
GLTA