RWD Peer Analysis, page-109

as was suggested in an earlier post, SO4 numbers look suspect.
Hartleys agrees - see bottom of page 6/ top of pg 7
http://australianpotash.com.au/wp-content/uploads/2017/03/APC-20170327-External.pdf

Interesting that the note pushes APC as having the lowest capex hurdle. But how do you justify the capex on a 12mT specific yield resource? It has the worst capital intensity of the peers.

If you don't like APC's metrics, it's hard to like SO4's. KLL hasn't much to earn the runs on the board so far and we have questions over AMN's numbers.

This leaves DNK and RWD at the front of the pack.