Proactiveinvestors recommends
Additional Information
Market:ASX
Sector:General Mining
EPIC:FMJ
Latest Price: 1.00  (0.00%)
52-week High:2.09
52-week Low:0.77
Market Cap:52.65M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Fortis Mining

Fortis Mining (ASX: FMJ) is focused on the development of the Zhilyanskoe and Chelkar Potash Salt Deposits in Kazakhstan.

Pdf

Fortis Mining poised to acquire two potash mines in Kazakhstan

Monday, March 21, 2011
Fortis Mining poised to acquire two potash mines in Kazakhstan

Fortis Mining (ASX: FMJ) is one of the most successful IPO's in recent memory, with an almost unprecedented share price rise.

Listing in December 2010 after an IPO offering 20 million shares at $0.20 to raise up to $4 million, the shares traded just shy of $4 earlier this month, and last traded at $2.69.

The reason, potash.

Potash has become the new 'rare earths', with potash mining companies' shares soaring as the world's food consumption increases unabated.

Fortis may have just kicked another goal, with the ASX granting the company a trading halt today pending an announcement of the acquisition of two potash mines in Kazakhstan.

Just last week the company received a major vote of confidence with an equity facility limit boost to $60 million from Global Emerging Markets, up from the original $10 million.

So it might be worth keeping an eye on Fortis, with the shares to be released from pre-open before trade on Wednesday 23 March, or when the announcement is made.

 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.