there's a pink gold rush for potash, page-8

DDzx

I respect your view very much and believe you are generally on the money.

But those comments are incorrect.

I believe mngmt have done a lot of excellent work too, but its their strategy that seems at fault.
They could have raised $50m at $2.50 not $1.75. The previous chairman had the deal in the bag. However they went for a dual listing in Canada, which has achieved nothing as far as I can see. Except a more dilutory raising.

Also hearing that elements of PFS taken to almost BFS standard. Why? they will never use debt.

I totally believe in the commodity and the project, but realistically Im concerned the present mngmt are using an old playbook in a new world. As a consequence they have ceded considerable leverage. This means they are going to have to give up more to get the funding.

Still believe we will make good money, but market conditions aside may have been better.

Biggest mistake was when MD started talking abt funding requirement and not short payback.

The drought conditions in the northern hemisphere may just be the trigger to cover mngmt sins.

Yes im being critical and yes they have done lots of work, but also made some mistakes. Lets not gild the lily eh

This will succeed in spite of mngmt not because of!!