What is Happening to the Highfield Resources Share Price?

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What is Happening to Highfield Resources Share Price?

Shares in Highfield Resources Limited [ASX:HFR] have enjoyed a significant tailwind lately. In late January they traded at 78 cents. Last week they traded over $1.75.

Why Did This Happen to Highfield Resources Shares?

Highfield is developing potash projects in northern Spain. Trevor Hoey described it like this in the Australian Financial Review on March 16:

‘Highfield is poised to become the first ASX-listed company to take a potash project from discovery to production…

‘Two announcements are due; the scoping study for the group’s Sierra del Perdon asset and the all-important definitive feasibility study for Highfield’s flagship Muga project.’

The first announcement mentioned in the AFR article happened on April 7. Investors were pricing in a positive announcement. The stock price peaked on that day.

What Now for Highfield Resources?

Since the announcement on April 7, the stock has sold off. It had enjoyed a significant run up to that announcement, so it’s no surprise there has been a pause as investors consolidate recent events.

An interesting stock to watch for further developments.

Callum Newman
Editor, The Daily Reckoning

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Callum Newman

Callum Newman

Callum Newman is the editor of The Daily Reckoning and Associate Editor of Cycles, Trends and Forecasts. He also hosts The Daily Reckoning Podcast. Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with. Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect. To have Callum’s thoughts and insights on the current state of the currency, commodities and stock markets delivered straight to your inbox, take out a free subscription to The Daily Reckoning here.

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