FW Thanks for the update on reserves of phosphate rock.It is far...

FW Thanks for the update on reserves of phosphate rock.

It is far larger than I anticipated, but RUM in my opinion could become a producer because it has a cost advantage in being closer to China reducing transport costs.

Also its reserves are huge and very close to the surface reducing CAPEX compared with many others.

Although there may be numerous reserves around the world hopefully China would prefer to deal with RUM if there is a cost advantage. Only time will tell.