I am not so negative as kidl, but there have been various missteps by management over the years, which you can read about by looking back through this board.
As to whether they can raise money to advance the rare earths, other companies active in the Brazilian REE rush are getting buckets of money tossed at them right now, i.e. it is hot hot hot.
BTW, when I first bought shares in this company, it was called Amazon Gold and was indeed looking for gold on their current and some other nearby properties. Then some bright person noticed that the ground they were walking on every day was primarily composed of glauconite, from which fertilizer could be produced...
One thing I wonder about is whether the REEs occur within the glauconite, or are they part of a separate system of mineralization? I suspect the former, given that many deposits elsewhere contain phosphates and REEs.
The main aspect that has kept NPK somewhat viable as an investment, or at least speculation, is that the float is low, under 58M shares FD, so they could raise money by issuing shares if they wanted.
Oh, and you should keep in mind that the fertilizer business involves getting loans and using them to extend credit to customers, so reading the balance sheet is not always straightforward.
LC |
