I first discovered this stock years ago - in 2001 - from memory. I was working for WHI Securities and very much liked the idea of raising capital for the company. The company owned a world-class potash, borax, lithium project in the Atacama Desert of Chile. My boss was against the idea, and last I heard they went off and found capital in the USA. My boss didn't like the manager. I actually thought the executive director was ok, just not the seasoned executive you might expect.The problem I had with the company was that the company was competing in the international market with salt producers in the US, and since I saw a weaker USD, it was inevitable that they would face alot of competition. Well in the last 5-6 years the USD has totally collapsed. Mind you the company today is a little different since they also have an iron ore project, which I know nothing about, not even its location.
Looking at the chart I think this stock is going to 10c. That may correspond to the low I see in the USD of Y85, or perhaps just further news of softening demand for industrial minerals. Anyway it seems likely that the low in the USD might offer a good entry back into that company, if not a little later.
-----------------------------------------------Looking at the chart I think this stock is going to 10c. That may correspond to the low I see in the USD of Y85, or perhaps just further news of softening demand for industrial minerals. Anyway it seems likely that the low in the USD might offer a good entry back into that company, if not a little later.
Andrew Sheldon www.sheldonthinks.com
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