African Potash in the dark over share price jump

18th Aug 2015 09:56

(ShareCast News) - African Potash noted the recent push higher in its share price and said it was not aware of any reason for the move apart from its announcement earlier this month.The AIM-listed exploration company confirmed that, as announced on 4 August, it is negotiating with third parties to secure sale orders pursuant to its trading agreement with Comesa, which is a free trade union of twenty African countries.Under the terms of the memorandum of understanding, Potash and the Mask Africa Crowd Farm Fund will supply and deliver at least 500,000 tonnes of fertilisers during an initial three-year period and Comesa will receive a commission fee of between 5% and 7.5% from sales."The company is otherwise unaware of any reasons for its recent share price movement."At 1018 BST, African Potash shares were up 4.3% at 1.80p.