In This Issue
Looking for new stories, and a big run for a potash stock
There is still nothing in the broader market to give us much confidence, with the Dow Jones continuing to serve up volatility that unsettles other markets. Nevertheless, we are starting to see new stories coming through as the optimists are still searching for ways to make money. It continues to be a market for special situations with no friendly trends to comfort us.
Davenport IPO’d in January 2017, raising $5.1m to pursue the South Harz potash project in Germany. Unfortunately the original subscribers at 20¢ have been under water ever since, with the shares trading down from the initial high to a recent low of 6¢. However, with the announcement this week of total 3.4 Bt at 10.5% K2O in the Inferred JORC category, the shares surged to hit 12.5¢ on Friday. Maybe the market is starting to appreciate the merits.
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