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Gold/Mining/Energy : ASIA PACIFIC RESOURCES
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To: Elmer Flugum who wrote (1429)7/18/2001 12:49:32 PM
From: George Hassen  Read Replies (1) of 1437
 
Len and All I think that APQ shareholders have been willfully deceived by the mgnt. Norsk Hydro had withdrawn its deal with APQ long long time ago but mgnt didn't even report to the shareholders. I talked with IR from PCS couple months ago said that Norsk Hydro had never signed any serious joint-venture deal with APQ, just a MOU. The costs for the mine are much higher than anticipated & BFS was not done in a satisfactory condition. There's a big logistics issue as other producers clearly see it, only the dumb APQ's mgnt does not.
End product has to be railed over 500 miles(very costly) to the nearest port in Thailand for export. It's true that APQ's proposed mine is closer to the Chinese market than PCS's mine but this is only a slight disadvantage for PCS. No right-minded potash producers in the world would ever want to develop this Somboon potash mine.

A comment below from PCS

"World Demand to Outstrip Capacity

The rising demand for potash is far greater than the new capacity expected to come on stream. The only certain new capacity will be small incremental additions in Canada, Jordan and Chile. Proposed new capacity additions are risky, uncertain and expensive. For example, Norsk Hydro has recently withdrawn its participation in the proposed APR project in Thailand. World demand growth is expected to outstrip new potash capacity additions in the next five years."

potashcorp.com
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