After hitting a many months low of 0,60 recently, it looks like it could have bottomed out and ready to start a good rally.
When they issue yesterday the NR in regard with talks still under way with Indian Rashtriya Chemicals, it seem that they may have revived the bids for this company.
What they want is a solid partner to build a 2,8M tonnes a year potash mining site by 2016 and they will need 2,5B$ in investments.
I would not be surprise that talks lead to a major investment in it and not a take over as Canadian regulation could make it difficult for any foreign country to do so.
So i am still accumulating with a stop losse at 0,58 and i expect WPX to get back over 0,80 before end of october as their feasibility study is due in late november and that speculations will be high.
As usual (and more actually) DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE and always do your own due diligence before investing in any stock. CHEAP SHARE PRICE does not necessary mean a real bargain. Play with extreme caution.
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When they issue yesterday the NR in regard with talks still under way with Indian Rashtriya Chemicals, it seem that they may have revived the bids for this company.
What they want is a solid partner to build a 2,8M tonnes a year potash mining site by 2016 and they will need 2,5B$ in investments.
I would not be surprise that talks lead to a major investment in it and not a take over as Canadian regulation could make it difficult for any foreign country to do so.
So i am still accumulating with a stop losse at 0,58 and i expect WPX to get back over 0,80 before end of october as their feasibility study is due in late november and that speculations will be high.
As usual (and more actually) DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE and always do your own due diligence before investing in any stock. CHEAP SHARE PRICE does not necessary mean a real bargain. Play with extreme caution.
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