RE:RE:RE:Rio Tinto looking for Milestone?Investing is not chasing. I am a long time shareholder and I am long on WPX. There is no other stock out there at this price with the bricks and mortar (actual confirmed potash, water and both environmental and aboriginal approval). we are talking at minimum a 40 year mine and more than likely higher.
At $0.53 its still a buy. I can't see this remaining in the $0.30 - $0.60 range much longer and even if it does its only a mtter of time before food prices and population growth drive the necassity for more potash. Where would you build a mine to help your people survive ? South America Africa? where political climate instability in combination with the corruption may leave you with nothing to feed your people or politically stable and world friendly canada?
Time is all we require...the inevitable is drawing closer each day. The only question that remains is what price will WPX fetch?
I suggest short term (3 - 9 months = $0.75 - $1.40) mid term (6 - 18 months = $1.20 - $2.3), Long term 24 - 36 months = $1.90 - $4.40)....
IMHO...based on potash prices, and the suggested 40% for $1B recently reported as well as the 20% ownership by the Chinese...
GLTA