Western Potash (TSX: T.WPX, Stock Forum) shares plunged 22% to 89 cents on volume of more than 5.2 million shares Thursday after the potash junior confirmed that it had ended talks with a potential Chinese investor, raising concerns about when the company can get into production, Reuters reported.
"We're moving on to someone we've had negotiations with for nine months, so we're pretty deep in negotiations," said John Costigan, Western Potash vice-president of corporate development, in an interview. "Somebody seems to have made a pretty big deal out of this."
National Bank Financial analyst Robert Winslow has an "underperform" rating on shares of Western Potash.