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Emerging plant nutrient producer Kropz listed on the AIM market on Friday, raising gross proceeds of about £27.3 million (roughly $35 million). The net proceeds will fund completion of its Elandsfontein phosphate project in South Africa, develop the Hinda project in Ghana, and reduce debt.
A dual listing on the AIM and JSE is expected toward the end of 2019.
This is a corporate financing event with limited immediate effect on phosphate fertilizer supply. Elandsfontein production is not expected until late 2019, so it has little near-term price impact on feed-relevant commodities.
miningweekly.comSimone LiedtkeNov 30, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
