Ann: Market Update - Zhilyanskoye Potash Project, page-30

Agreed freighter on most part except the financing. KPC will require billions of dollars, especially if Satimola is acquired. That is a huge undertaking especially for a minnow with a 100 mil MC. But they have ticked all the boxes so far to transform themselves into a World class Potash Producer, which when you think about it is an incredible feat. When I spoke to Marcou about 6 months ago he said SH needed a 5 year outlook, so patience will be required by us. Many hurdles to cross before then, firstly get Satimola and then I believe with that world class project tapping into billions$ capital will be easier.

but well done to Madam and management thus far.

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