ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

AFPO African Potash

0.06
0.00 (0.00%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
African Potash LSE:AFPO London Ordinary Share GG00B4QYTJ50 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.06 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.06 GBX

African Potash (AFPO) Latest News

Real-Time news about African Potash (London Stock Exchange): 0 recent articles

African Potash (AFPO) Discussions and Chat

African Potash Forums and Chat

Date Time Title Posts
17/9/202014:59African Potash13,172
29/9/201616:41African potash and beyond 2015443
15/9/201616:43more afpo share buys288
23/2/201613:27AFPO1
18/11/201519:30AFPO - African Pot-crash the Bearish view218

Add a New Thread

African Potash (AFPO) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type

African Potash (AFPO) Top Chat Posts

Top Posts
Posted at 21/2/2019 23:58 by the bull
hxxps://uk.linkedin.com/in/david-sheehan-8222959

This guy?

Bet his customers wont be happy if he got them to pile into AFPO and the spiv running it.
Posted at 12/2/2018 07:57 by molatovkid
Oi oi !! No idea just how blockchain technology can be linked to fertiliser but then again....if I get some of my money back I don't care
Posted at 30/11/2017 16:46 by noirua
Chosen paras, click on link for whole ann

AFRICAN POTASH ENTERS JOINT-VENTURE AGREEMENT WITH FINCOMECO LIMITED
28/11/2017

(ShareCast News) - African Potash has entered into a Joint Venture Agreement with FinComEco Limited, a subsidiary of GMEX Group Limited, it has emerged on Tuesday, to jointly develop and operate a range of platforms, projects and initiatives in the agricultural commodity markets sector in Sub-Saharan Africa.
Focused on building a platform for the mining, production and distribution of fertiliser, African Potash reported the projects and initiatives, underpinned by the deployment of complete blockchain-based agricultural ecosystem solution, would enable farmers to enhance productivity and potentially obtain a better price for their produce, providing opportunities for further income growth in the long-term.

Demand would be driven by the provision of microloans, expected to bear interest at approximately 12% per annum, by the company direct to Small Scale Farmers (SSF), the company said in a statement.

The company also said that shareholders will gain from the revenue from the sale of fertiliser and other inputs direct to SSFs, as well as the sale of outputs and from interest on the loans.

Chris Cleverly, executive chairman, said: "By linking agriculture to blockchain technology, the joint-venture will facilitate agricultural value-chain efficiencies through the provision of strategic value-added services.
Posted at 23/10/2017 08:54 by the bull
Can anyone post what share prophets says about this company now. I presume it wont be complimentary with a turnover of $9000 per annum
Posted at 23/10/2017 08:52 by the bull
African Potash Ltd.: Audited Annual Results year ended 30 June 2017
Fri, 20 Oct 2017 18:18:56
: African Potash Ltd.: Audited Annual Results year ended 30 June 2017

African Potash Ltd. (AFPO)

20-Oct-2017 / 18:18 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

African Potash Limited / Epic: AFPO / Sector: Mining

20 October 2017

African Potash Limited

("African Potash" or "the Company")

Audited Annual Results for the year ended 30 June 2017



African Potash Limited, the NEX listed exploration company focussed on the vertical integration of fertiliser operations in Africa and sub-Saharan potash assets, is pleased to report its audited annual results for the twelve months ended 30 June 2017.

Chairman's Statement

Two years ago, African Potash was a junior exploration company with an early stage project which had just completed a proof of concept drilling program confirming extensive lateral seams of Potash Salts, extending to the edge of the Congolese coastal basin. Notwithstanding the positive results, the funding environment for early stage resource projects has remained difficult. Recognising this, the Company has implemented a strategy to develop opportunities for generating revenue in the fast developing and related fertiliser industry, with a long-term view of ultimately providing access to the market for its resource products.



Fertiliser Trading

The initial emphasis was on government-focussed trades introduced by COMESA (Common Market for Eastern and Southern Africa). Several Memoranda of Understanding were entered into, and the Company invested significant time and resources in pursuing these opportunities. Severe regional drought adversely affected demand, elections postponed decisions and, most importantly, budget restrictions meant that our customers could not, despite assurances to the contrary, secure the necessary payment required either by way of letters of credit or any other satisfactory payment instruments to enable us to conclude the potential trades.



Clearly there is a sizeable business opportunity within this area and that we will be well placed to take advantage of it as time progresses as a result of our established relationship with COMESA. That said, throughout this period, we have learnt that dealing with governments can be slow and unpredictable. As a result our strategy has developed such that we are now looking towards both wholesale and retail trading, with a view to focussing our operations closer to the end user of fertiliser products.



Last year, we commenced trading operations in Zambia with Nutri-Aid Trust ('Nutri-Aid'), which has over 2,500 agro-outlets certified by COMESA. This pilot scheme commenced with a partially secured credit-based model whereby the agri-dealers within the Nutri-Aid network would pay 50% upon collection and the balance within 45 days. The pilot revealed not only the inherent risks in a partially secured credit based model but also showed us that many customers were happy to pay cash on collection.

Following the pilot we have entered into an exclusive agreement with Nutri-Aid to lease their network of small community warehouses which had been established in conjunction with US AID, and to use these to build a warehouse and retail business. The first three warehouses have been refurbished and are ready to start trading in the season getting underway.



A key driver of demand is the Zambian government's eVoucher program which is replacing their former government subsidy program, whereby registered individual farmers receive a prepaid card which can be used to purchase fertiliser and certain other inputs from registered suppliers. We are a registered eVoucher supplier.



In July 2017 the Government announced that the budget for the current season is $175m. In addition to the warehouses we have also recently launched the One Farm program, running social media groups where we engage with individual and groups of farmers to identify their input requirements. We also use these groups to disseminate data and information, weather, agronomical information, timing of planting, market data for sale of outputs amongst others. This enables us to establish close relationships with small scale farming groups and add value over and above the supply of fertiliser.



We have also taken the decision to "buy into" an existing business. As announced on 31 March 2017, we have agreed to take a 21% stake in Advanced Agricultural Holdings (Pty) Limited ("Advanced Agri"), an excellent example of a successful fertiliser and speciality input distributor in South Africa. Advanced Agri will provide us with additional agronomic expertise and speciality products which will enable us to distinguish our product offering to larger commercial farming groups and agri-dealers in the region and give us an advantage when concluding deals with governments and multi-laterals.

Lac Dinga

African Potash retains its interest in the exploration side of the fertiliser industry through its 70% interest in La Société; des Potasses et des Mines S.A. ('SPM'), which holds the exclusive right to conduct exploration activities for potash salts over the Lac Dinga Project Area ('Lac Dinga' or the 'Project') in the highly prospective Kouilou region in the Republic of Congo which has been renewed until 25 April 2016, following which, the license is renewable for a further two years.



During the period the board undertook an impairment review. In the continued absence of any recovery in potash prices and to reflect that no further progress had been made in securing additional funding or a suitable earn-in partner, the board decided to impair the valuation of the project to $3m. Based on a re-assessment of the available information as at 30 June 2016 the board have therefore decided that this impairment should be treated as a prior year adjustment, and the comparative financial statements for the year ended 30 June 2016 have been restated accordingly.



In order to develop the asset and issue a maiden resource statement, the Group announced on 19 July 2017 that it has entered an agreement with African Agronomix Limited ("AAX"), whereby AAX has the right to acquire up to 100% of the Company's interest in Lac Dinga project structured over four distinct phases (the "Earn-In"). During each phase AAX will have funding and performance obligations, completion of which result in AAX acquiring a greater interest in the Project. Upon completion of a maiden resource statement, AAX will hold 65% of our interest in the project. At this point, the Company may elect to participate in co-funding the feasibility studies alongside AAX.



Financial Results

Net income from trading for the year ending 30 June 2017 was $9,000 (2016: $15,000). Operating expenses were reduced to $1.3m (2016: $ 5.1m). After the impairment charge in respect of exploration assets of $0.7m (2016 as restated: $7.8m) and the reversal of deferred consideration in the prior year of $3.6m, the loss before taxation for the period was $2.3m (2016 as restated: $9.5m). Cash balances at 30 June 2017 were $11,000 (2016: $298,000).



Since the year end the Company has raised, by way of placings, $143,000 before expenses, to fund the further development of its fertiliser trading operations.



Outlook

On 21 April 2017, the Company announced that it had signed a Letter of Intent in connection with the proposed acquisition by the Company of Onshore Energy Limited and requested that the Company's shares be suspended. The Company is no longer pursuing this transaction.



Over the past few months, during our suspension from NEX, there have been some key developments that combine to strengthen the African Potash proposition giving us a clearer path to long-term profitability. Our goals and business strategy align with the Feed Africa initiative - the African Development Bank Group's agricultural transformation strategy for a competitive and inclusive agribusiness sector that creates wealth, improves lives and secures the environment. Led by the private sector and enabled by the public sector, using innovative financing mechanisms, the strategy aims to end hunger and rural poverty in Africa in the next decade.



As part of our strategy to be an African fertiliser trader, we have completed a transaction to acquire a strategic 21% equity stake in Advanced Agri. We plan to work with Advanced Agri to develop their business regionally outside their South African market. We have seen an increasing trend in the market over the past year where commercial farmers are opting to purchase a higher quality specialty fertiliser over and above the more common generic NPK and Urea products. Advanced Agri is one of South Africa's leading 'specialty fertiliser' distributors, and this investment positions us well for attracting business and improving margins from the distribution of Advanced Agri's specialty products across Africa.



The earn in agreement with African Agronomix Limited to develop our Lac Dinga potash resource is a hugely positive move for all concerned. We have been looking for the right partner to push this forward for a considerable time. The transaction endorses our belief in the long-term viability of the Lac Dinga project and, as the earn-in work progresses, will realise value in the project for existing shareholders. Importantly, shareholders have a free carry to a maiden resource statement.



Since restructuring our business model in Zambia we have built a very competent team on the ground. We are now well engaged with three community groups in relation to establishing "Agri-Hubs" from their respective warehouses. Initially we will focus on the supply of fertiliser and over time expect this will naturally expand into other agriculture related products. Once these warehouses have bedded down the most efficient business model, we intend is to gradually roll the same model out across the full Nutri-Aid network of 32 community warehouses each of which is situated in the centre of an agricultural region, to give us a significant national distribution platform. In addition we will continue to develop our One Farm program, which is already generating some significant leads.



The Board believe that we now have firm foundations from which to build a growing revenue generating business and look forward to continued progress in the current year.
Posted at 30/11/2016 10:14 by noirua
AFPOs Fast Track application to join the ISDX



AFPO's will not be admitted to the ISDX until 8th December 2016. AIM cancellation with no Nomad appointed is on 7th December 2016.
From that, subject to acceptance, AFPO joins the ISDX on 8th December. Trading would be telephone only.

Doriemus cancelled their AIM membership and joined the ISDX. Now contemplating a main market quote.
Posted at 18/11/2016 07:55 by aidenabettin
70 million over-allotment facility not used yet that we have been informed of.It ends at close of business on the 24th.The allotment would have been used to stabilise the share price if and when required either up or down.It has put a stop to shorting as the 70 million shares available would cover any short.AMS 90 day agreed lock in ends on the 5th-6th Dec.News could come anytime on or after next friday imo.This is still a great opportunity to enter even if you see your buy covered by a sell to keep the bid below the placing price imo
Posted at 09/9/2016 12:25 by phil1969
I hope you're right corrado. But unless there is transformational news I'm afraid it's on a slippery slope. All too often the price funds are raised at never really get tested. Some firms do have a business model which will allow funds to be raised at 0.2125p and in 6 months the share price is north of 0.4p but I wouldn't say AFPO was one of them. Funds raised by flipping?Did directors buy and hold?Any institution take part and hold onto shares?These are key questions to ask yourself on a fundraise. Otherwise only the mugs buy the flipped shares and get left holding the baby posting 100% buys, 200m traded already, it will tick up soon!!! If it was going to tick up, it would have done by now!!!I hope a few of you who got caught will swallow your pride and see it for what it was. The usual crowd pumping to help the flippers flip.
Posted at 31/8/2016 10:29 by noirua
Very difficult this stock, if not obvious. If the share price doubles to 0.6p then in comes a placing at 0.3p. No RNS is believed anymore so CC will have to use the world's many search engines to find a way to get people to believe him again.

Maybe an investor somewhere in the world has never heard of AIM or TW. So just may invest a sum in the potential potash exploration venture, separate from AFPO. The option being that they earn a bigger percentage by piling in cash for drilling and getting up to a 49% interest. AFPO get an upfront cash sum by giving the investor a starter 10%.
Posted at 16/5/2016 22:12 by andypop1
Pokettens,
We have AFPO who are looking to provide good quality fertiliser to the African people at an affordable price through COMESA and their vertically integrated fertiliser trading business. They didn't have much success with the four COMESA MOU's so they got in bed with Beryl, the plan was to buy their existing fertiliser trading business using shares @ 2.61p, unbeknown to AFPO the CEO of Beryl set up a new commodities trading company with Safyr a couple of weeks prior to the AFPO/Beryl joint venture. Beryl pushed a trade afpo's way with a Zimbabwean company called Windmill, this trade failed. AFPO then announce the first trade under the COMESA agreement for 20k tonnes, again this trade fails but don't worry it didn't cost AFPO a penny.
AFPO now realise they don't have two brass farthings to rub together despite a placing in January and a payday loan in December so they enter a participation agreement with Nyiombo/Beryl/Safyr for a paltry 25% cut of the net revenue of a trade for 50k tonnes of fertiliser. Nyiombo are far from the cheapest supplier of fertiliser to the poor African farmers but needs must, principles are fine up to a point aren't they?
Still at least the exploration licence has been granted!
African Potash share price data is direct from the London Stock Exchange

Your Recent History

Delayed Upgrade Clock

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com