Brazil Potash (GRO) is a pre-revenue potash developer aiming to replace 25% of Brazil's potash imports with domestic supply via the Autazes project. GRO's Autazes mine targets 2.4M tonnes/year, boasts high-grade ore, logistical advantages, binding offtake agreements for 91% of output, and strong management. I value GRO at $14/share on projected $1B EBITDA, conservatively discounting to a $7/share price target; current price is $3.65, offering ~100% speculative upside.
Roth MKM analyst Joe Reagor initiated coverage on Brazil Potash Corp. GRO with a Buy rating and a price target of $17, citing the company's undervalued Autazes potash project.
A Canadian company mining a key fertilizer for grain crops in Brazil's Amazon region is set to have its shares traded in the U.S. starting on Wednesday.