Interesting Anatol, I thought exactly the same as you, I bought...

Interesting Anatol, I thought exactly the same as you, I bought at 52 cents, did not like the chart that much in the 40s, considered selling, did some more in-depth research, and then snapped them up at 38 cents, especially after reading the futures orders for 2013, which shows a nice little 10 to 20 percent bounce in sales and quantity volumes for some companies.

The Chinese are surreptitiously out there, still scouring for value in Potash, and I see they have just invested in Potash West, and a Canadian small-cap, and a Brazilian small-cap, and will probably take out South Boulder, with obviously more to come. Watch RUM. There is also some M&A action happening. Potash will be back in 2013 I believe. If only it did not take so much damn capital to develop a solution mine, it is the only thing holding this stock back (except for the market manipulators).

And Eritrea pulled off their second sovereign risk stunt in 6 months, firstly on Chalice Gold (who had to sell off to the Chinese and Eritrean government), and now they are doing the same thing with our Potash friend - South Boulder. Effectively, the Eritrean government have demanded 50 percent of the project, for nothing. It should be a crime, but I suppose when criminals take power, they can do what they like.

Let us hope that some African states remain fair and equitable, but they all bear continuing and close scrutiny, you can not take your eyes off them for a moment.

I like Gold in Brazil at the moment, with the added bonus that Brazil is really trying to be a good global citizen, at least for the next 4 years, because they host the football world cup, and then the Olympics. BDR and CAS are my men down there, which I identified mid year, buying BDR in the 50s, CAS in the 30s.

We should keep a close eye on ELM, but for the moment, at these prices, it is a speculative buy.

I heard a rumour from a friend down on The Terrace, but I dismissed it as crazy, but he said BHP had run some figures over ELM. Like I said, crazy, it is far too early stage for BHP, surely.

Stay well my friend, and that double masted yacht in your footer looks most excellent.

Gw

For he today, that sheds his blood with me, shall be my brother; be he never so vile. This day shall gentle his condition.
(William Shakespeare - Henry V; at the battle of Agincourt)