i would say the main problem is potash is no longer...

i would say the main problem is potash is no longer bullish

recent major contract was settled at $400/t

some major producers reduced their output

ELM has taken the path of a producer, focusing on BFS, and stopped the path of an explorer

i was playing around with small trades in 2012 but did the big sell when i learned they were no longer drilling, buying back when it crashed

now i am holding at these prices and missed a buy today at 34 by 0.005

ELM has low opex high grade but really need to prove up big super high grade tonnage to be an exceptional player in the current flat potash scene

i think the deposit is good enough the attract a takeover

they really need to prove up the super high grade potash they have at HWS and Douggo to add better value

mgt is erred greatly here

wrong path

regards