Millennial Potash (OTCMKTS:MLPNF) Stock On Radar After Key Update

Potash is an alkaline potassium compound, which is a major constituent of fertilizers and also plays a major role in the agricultural sector. Brazil, which is one of the biggest agricultural nations in the world and many other nations are now facing potash shortages.

Trading Data

On Wednesday, MLPNF stock surged 11.61% to $0.3460 with more than 2.65K shares, compared to its average volume of 3.07K shares. The stock moved within a range of $0.3100 – 0.3460 after opening trading at $0.3100.

Millennial Potash’s (OTCMKTS:MLPNF) Banio Potash Project Could Become A Major Potash Supplier For The Southern Hemisphere

That brings us to the subject of Millennial Potash (OTCMKTS:MLPNF), a company that acquired the Banio Potash Project in Gabon not too long ago. Those nations are now looking for potash suppliers which can provide the component at lower transportation costs and stay undisturbed by geopolitical issues like the Ukraine-Russia war. That had been one of the major reasons that many of those nations had faced the shortages.

It is believed that Millennial Potash could in fact prove to be a suitable alternative for those countries. The coastline in Gabon is rich in potash deposits and presents a major new opportunity for the worldwide potash supply chain. Russia had been the biggest supplier of potash but the disruption brought about by the war had disrupted supply chains considerably. Belarus, a Russian ally, is another major potash supplier. In this situation, Millennial Potash could be a company that may find itself in a unique position.