potash , page-30

Early opex estimate was $85-150/tonne.

Early capex estimate was %30-90 million.

The first scoping studies were 20 - 30% above these due to rising labour and material costs. The project is said to be particularly sensitive to the reagent cost so they initiated a second scoping study to address these issues investigating cheaper processing options which is due this half. (Management seems pretty steady). This was at a time when potash prices had halved and at the time the project was considered marginal. Prices have obviously improved since then so if they improve their costings this project could be very robust. Going by what they've stated in the past it would sound as though it would be profitable in todays circumstances. It has considerable transport costs over imported product.