Ann: Presentation - Path to Production for High Margin Muga Mine, page-2

Solid presentation (except for the date range issue in the SP chart).

Makes you wonder what would happen to the price of MOP if all our mines come into production. There will be over-supply into the market which would force higher costs producers out. I don't have the data handy but from memory, our Muga mine will be lower cost than most of the Canadian producers which will be sure to cause a stir.

One analyst wrote of the next generation of potash producers (DNK and HFR are very close to my heart- lol) that the greatest risk is a takeover and SH never realizing the full potential. I have to say, it's looking more and more likely that industry consolidation will occur and we'll be stopped out from producing under the HFR name.

An offer will surely come as soon as approvals are in place.

All IMO.