After a two-day climb that saw share prices leap 86% earlier in the week, Pan American Fertilizer (TSX:V.PFE
, Stock Forum
) is again among the market’s biggest movers, notching an 18.18% bump from $0.11 to $0.13.
The company announced the appointment of Dr. Rob Rennie
as new Executive Chairman Wednesday, which was the day of highest activity, taking the stock to a 90-day high.
In September, V.PFE announced a letter of intent
from Agro Industrial Campos Nuevos S.A. for 70,000 tonnes per annum of industrial grade low-sodium Calcium Sulphate, adding significantly to its stated push to provide fertilizer to the South American market.
The products sold by the company are specifically aimed at restoring fertility to over-farmed land with no chemical after-effects.
In an interview with Stockhouse
in February 2013, CEO Randy Wright pointed to unsustainable growth as his primary concern for the year.
“Right now there is a lot of interest in our company and our products, meaning there is an opportunity to grow very large and rapidly,” he said. “Controlled growth is a challenge as we do not want to grow so fast that we are unable to sustain ourselves, and we also don’t want to send the wrong message by backing away from key opportunities.”