Thanks for the article Allen4...... No doubt the current turmoil in Mali and neighbouring Algeria, which shares a boarder with Morocco, is putting the fear of the Lord into American fertilizer manufacturers such as Agrium. Agrium by coincidence, is also facing a double whammy, in that their rock phosphate mine just outside Kapuskasing, is winding down operations. The questions they must be asking is, where can we acquire a guarenteed low cost source of concencentrated rock phosphate? Enter Stonegate, which just happens to be in the United States!
All Stonegate has to do is dig the rock concentrate out from the side of a mountain and ship it out for further processing. NO PROCESSING IS REQUIRES AT THE MINE SITE. The mine will be able to ship the phosphate rock in less than two years. Start up costs, will be less than 130 M. Permitting is well underway. The locals are all for it, as the area has high unemployment. More details can be found.... on the companies website. See Bankable Study
This is setting up to be a perfect storm.
It would not suprise me to see a take out offer for the company. Management knows how to take a mine to completion, as they have done so in the past with other projects! Any company wanting to buy Stonegate, would have to pay a hefty price.
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Kapboy