RWD Peer Analysis, page-123

There is a clear difference emerging in the potash space.

You have some companies (APC, SO4 and KLL) that are promoting their infrastructure as being able to get them to production first.

Agrimin is sort of in the middle. Because of their remote location, they miss out on the APC, SO4 and KLL comparison. At the same time their exploration work is nowhere as detailed to substantiate the resource like RWD.

Then you have RWD...who have gone all out in defining their resource, but made ZERO investment in promotion.


So what matters?

3 things ultimately i think:

1) Resource life
2) Quality of brine
3) Flow parameters


I still can't see anything yet from the peers that matches RWD and on this basis, peer valuations are hard to justify.