OTCPK:SPVEF - Post by User
Post by
nilyabon Oct 01, 2011 7:57pm
411 Views
Post# 19108297
Something to cheer people up
Something to cheer people upI learned the following last evening from a totally reliable source. To quote:
" ... the price of rock phosphate in Hubei Province has just been increased from RMB 400 per tonne (that value for the last 5 years) to RMB 600 per tonne due to tight supply. In addition, the Chinese authorities have issued guidelines restricting the approval of further phosphoric acid or compound fertilizer production facilities. Both of these are net positives for YMC, because the cost of mining has no increased anywhere near this 50% increase in the sales price of rock P. Thus YMC's mines are even more valuable now. Now what we need is more flexibility with respect to export taxes so that fertilizer P manufacturers may export during the off season and take advantage of higher international prices for P."
Not too shabby, eh!