ELM focus is the Brazilian market. The potash deposits in the east of Africa have a number of challenges eg infrastructure, water The Congo potash is viewed much more favourably by the bigger players, but still pretty speculative. In the present capital constrained world, investment and return on capital are critical. ELM project remains the best deposit outside the Canadian and Central Asian known plays. Things will become clearer post PFS in August. The question mark on financing is driving the marginal investor out. If its not Brazil coming to the party, hope there is a plan B (China/India???) Worth noting that with Brazilian imports rising and domestic projects not measuring up they must continue buying on spot market as they are not dictated to by the cartel. A deal with ELM makes sense either JV or offtake, just depends on who is holding what cards at the time. Despite what HC posters say, I reckon mngmnt are doing much positive work behind the scene. Go thru the quarterlies and see how much work has been completed. They are very focussed on the outcome. Until then we are as prone to the whims of the market as everyone else.
K2P Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
