Ann: Pre-Feasibility Study Update, page-73

KRogers,
KLL's PFS only covers the area A (stage 1?) which is the western side of their lake system. I also don't believe it includes the entire western lake as another company holds the tenement over most of it??? So they haven't announced any data for the rest of the project, although they seem to imply in their PFS it will provide the same cash flow etc. So it may not help them in the future when they combine their 200km long project into one.

Also, they never explicitly explained what area the PFS covers! You had to research to find out, which of course is a poor reflection on management. When management need to revert to 'smoke and mirrors' the red flags are flying.

It's for this reason I believe KLL is a dud. It may and can produce potash but will never amount to much based solely on its current project. On the other hand the second area could prove to provide the same cash flow but why use smoke and mirrors if management believe this.

AMN is even worse. The southern section of the lake has no potash. They did an entire drilling program and didn't release the results. So they have a tiny strip in the middle. At least KLL are close to farmers. They could truck straight to them but a world-class project that doesn't make! That makes a small family run business that needs to de-list