Boliden’s Q2 earnings disappoint despite near fivefold rise
The miner said higher metal prices boosted its earnings, while lower treatment charges and metal premiums weighed on the result.
Canada’s Sprott Resource Corp (TSX:SCP) has announced that it holds a major stake in Potash Ridge Corporation following the company’s disappointing IPO.
Canada Newswire reports that documents publicly filed by Potash Ridge indicate that Sprott Resource now holds approximately 19.9% of the total issued and outstanding common shares in the company via Sprott Resource Partnership.
The Wall Street Times reported last week that Potash Ridge raised only a disappointing 20 million Canadian dollars from its IPO – around half of the amount the company hoped to raise for the development of a mine in Utah.
The disappointing IPO arrived at a troubling time for the global potash market, with Potash Corp. of Saskatchewan (TSE/NYSE:POT), the world’s biggest potash producer, logging a 22% decline in Q3 earnings and analysts foreseeing the development of a potash spot market which will drive prices lower and trigger greater price volatility.
