China and India are key growth markets for potash; currently, farmers in both countries only use half as much potash in their fertilizers as American farmers. In this photo, a farmer carrying fertilizer walks on a farmland on the outskirts of Anshun, in China's Guizhou province.
This month, China fertilizer firm Migao has had to deal with earnings results that did not meet expectations, and the fallout from the Sino-Forest short-selling drama. The combination of bad news has sent shares tumbling about 40 per cent since the end of May. However, insiders are buying. Since June 10, six insiders have bought in the public market. Notable purchases included chief executive officer Liu Guocai picking up 135,000 shares between $3.73 and $4.01. Newly appointed director Wu Jianmin bought 200,000 shares between $3.71 and $3.95.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.