Forget the Potash. The flow sheet is hard work, the opex high and the capex 100M+ largely because they have an autoclave in the flow sheet. The problem for the opex is the cost of Ammonia.
Until they get a lower cost flow sheet you have to park the potash. No point drilling more holes at this stage till the flow sheet works.
The real value has always been in Cloncurry. They ave done a good job with the exploration in that area. They also have lots of area and JV/farm in options. The geology is really very similar to Crakow and the plan is open cut. They are going to need cash soon though to keep drilling.
AIV Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held
