Up 300% Friday 11.9 million shares traded maybe this is why. The Phases I and II drilling programs, completed in 2011 on the Tilemsi and Tarkint Est permits, enabled a combined NI 43-101 compliant inferred resource* of approximately 50 million tonnes (Mt) at an average grade of 24.3% P2O5 and cut-off grade of 10% to be generated.
The Morocco Phosphate price is $317.5 USA per metric ton or about $444 Canadian. If we have 12.1 million tons of phosphate at $444 = $5.3 Billion in revenue if my math is correct. If we are worth 1% of the total revenue of the projects proven value that gives us a market cap of $53.7 million. We now have a market cap of $1.7 million. If you multiply our share price of .02 per share by 31.5 that gives you a share price of .63. Add some value for the gold property. Tremendous upside at .02 per share. My guess is we could hit .05 to .06 per share this week. The company has a clean balance sheet with no debt and $4.6 million in assets or .055 per share.
Phosphate is up about 100% in the last year. About $150 per ton 1 year ago and now at $317 per ton. We should see a steady rise in the Phosphate price as the world population continues to grow.