The company needs too much money: $130 million to fund the purchase from Karlsson alone
Then they need over $10 million to fund Apollo debt terminationj fee ( shareholders should sue over this deal point). Then they need another $950 million to build out the mine alone. Then $200 million in additional costs. All in they need $1.3 Billion........Maybe something huge is in the works....Im doubtful..
i bought a small position around 30-32 cents. i more or less doubt they can get this thing up but it has the potential for a nice bounce for being oversold. could get onr or two bits of news and it goes up enough to sell. I agree though, its a very pricey endevour and the chances of failure are high. could go bk, the next guy after them could be agreat stock since they would get the assets cheap withought the bad deals. who knows..
nothing to date has impressed me. Every deal they have made has benefited the other party. The restructuring of the debt is a much needed change although they need to execute on raising money in a creative non-dilutive manner going forward.
On October 22, 2012, Prospect Global and Sichuan Chemical Industry Holding (Group) Co., Ltd. of Chengdu, China, jointly announced a more than $2-billion, 10-year agreement under which Sichuan will purchase at least 500,000 metric tons of potash annually, or 25% of the projected output of Prospect Global's American West Potash field in Holbrook, AZ.