Starting to look at some international comparisons. Came across...

Starting to look at some international comparisons.

Came across Crystal Peak Minerals in the US

Resource size: 30mT SoP
Production target: 300,000 t/pa
Capex: US$378m
Mkt Cap: US$75m -> ~A$100m

Crystal Peak has lower resource size, higher capex, yet is double RWD's mkt cap
Another example of RWD trading cheap.

Crystal Peak's latest presentation from 2nd March 2017 shows none of the other Aussie potash hopefuls except LD for the lowest capex cost - see pg 10

http://crystalpeakminerals.com/site/wp-content/uploads/pdf/CPM_Investor_Presentation_2017_Q1.pdf

Interesting that EMR is invested in Crystal Peak , they have invested in HFR I think?

Also 65% of the project is expected to be funded via debt, so should minimise dilution.