RE:RE:Verde is at the forefront of carbon capturerudinm wrote: Well lets see how long it will take to take sales up to 1.5 million tons andif they get anthing on carbon crdit done in 2024....
Brazilian potash was down to $290/t last week, which is a cycle low. This just pressures Verde's margins that much more at a time when they can ill afford it.
The issue with the carbon credits is Cris announced in July that the company was in "advanced negotiations" to sell them only to walk everything back a few months later. So, the market rightfully gives zero valuation premium to any potential carbon sale monetization plan. We'll all believe it when we see it. Cris has become known as the ceo of missed guidance and false promises. He has landed with egg all over his face too many times to count in the last couple years and yet somehow still retains an ironclad hubris. Cris is a great pitch man and sells the vision. He's best in the CoB role and pitching to the institutional crowd. He should find a competent ceo to turn this operation around and hire the right team for the ERW initiative starting with a solid CSO.
I remain long because the resource is enormous, the mine location offers a strong competitive advantage (if they keep the delivery radius tight enough) and the global carbon priorities are shifting toward being a very strong tailwind for this company. Let's see what they can deliver in 2024.