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Migao Profit Ebbs; Details on Supply Deal Awaited
Sep. 08, 2011 05:05PM PST
Potash InvestingReuters Africa reported that the absence of information on Migao’s (TSE:MGO) potash supply deal caused share prices to fall.
Reuters Africa reported that Migao’s (TSX:MGO) profits were down on maintenance shutdowns.
The market news is quoted as saying:
Even as the Toronto-listed company’s earnings slipped, its sales improved as it shipped higher volumes of potassium chloride, or potash. Migao uses potash to produce higher-margin crop nutrients such as potassium nitrate and potassium sulfate.