WESTERN POTASH CORP T.WPX

Is the rally for WPX over?

[calgarytran]

Or is it just a correction? Consolidation maybe.

[goldbull9]

I think some profit taking but also POT profit plunged 70% on weaker prices. https://business.financialpost.com/news/mining/potash-corp-profit-plunges-70-on-weaker-prices-announces-that-it-is-assessing-assets

[Aim2smite]

Both pot and agu fell sharply today and profit taking from short term traders plunged WPX today unfortunately. Bought more today at 30 cents level unfortunately but I believet that the price should stabilise and consolidate at the current level. I don't really see the stock price go back down to 20 cents level. Will buy more tomorrow. Given the cash level, the new solution mining technique

[blackwood2002]

A huge buying opportunity just slapped us in the face. Do what potash profits dropped. High cost produced that shut mines due to low pricing .. no effect on WPX .. mine will still get built snd cost of production far cheaper .. means bigger margins. A 24% drop ! Loading up baby !  A gift in my books . 

[mo1975]

I believe it was due to the report by potash that the market still has too much potash on hand and they did not see clearing it until 2020-2022.....the competition keeps the price down... so I guess profit takers probably sold on that report.... it might still go down a few more cents and then pending on further annoucement on the pilot project you will see it rebound....i may be wrong but i will

[Treadnimbly]

Supply has never been the problem. It was at what price? After the run up to $800/ton buyers such as China wanted to secure alternate suppliers so buying WPX it gave them leverage. Solution mining reduces the cost of production so conventional miners are closing some of their higher cost mines.K & S. Continued to build through this market because they see the long term advantage.  WPX

[blackwood2002]

Potash news has lumped the whole sector into the crapper.. Yet, the market seems to be mising the point. WPX , Enconto and other Jr's are going to be winners at the end of the day. China and India do not want to be held hostage by Cantopex and Russian monopolys. So they are buying producing assets to secure future supplies and control pricing to some degree. Which in turn gives their farmers

[Treadnimbly]

As they stand right now. They are worth 18 cents/share cash alone. With total assets 32 cents. Now take into account complete engineering reports already at hand with a forthcoming build commitment of one or both capacity options today's lows were a give away! GLTA.

[mdjbrown]

blackwood, your caveat is exactly correct for just anout all of the KCl juniors   "provided the technology is proven successfull." Western, Gensource and Karnalyte, are all in the same boat regarding proving up their technology in Saskatchewan Until that is proven without a doubt that it works, there is substantial risk to big investment, and likely the reason

[thairat]

Not all sounds bad: "Strong customer engagement and positive potash pricing trends from the second half of 2016 are expected to carry into the new year," said PotashCorp President and Chief Executive Officer Jochen Tilk. "Supported by healthy underlying consumption, lower global inventories and with Canpotex fully committed for the first quarter of 2017, we see a continued