In case you missed the AAA conferencecall. How does AAA management compare with EPO's ? Are you happy with the communications you are getting about the vote and everything else?
- 4 potash beds
- M&I 673 18.5%
- Inferred 5xx 19.98%
- No M&I before
- No Karnalite before
- Sylvinite 98million 38%
- Kantite 284 M&I 19.76
- I 271mt 20.30%
- Karnalite 78m 18.76
- 90m 18.60%
- Lower karnalite 212m 12%
- 130 11.3%
- Based on 40%
- Moving to east and infilling in the southwest
- BFS almost immidetialy
- Best funded fertilizer junior. $60million bank
- Several proposal from GLOBAL banks
- European government railway come close to property
- 2mt/y or more
- Consider production of SOP 25-40% premium
- Production by 2014
Question period
- Looking at how to protect shareholders
- Road already in place, waiting for the railway to be finished.
- Shortestroad through the desert, working with ministry to get funds to get thatroad fixed and overhauled. Not usuable right now.
- More infill drilling on the left side. Hole 24 finished
- Tighter drilling. 6 infill holes recommended.
- Iiroc working on the February events. Legal is working on contacting iiroc about yesterdays events
- Haven’t had negative feedback about the new resource from high networth/institutional investors
- To finish full feasibility and all exploration, require between $15-20 million
- Finance with debt and equity 60%/40% debt/equity
- Partially offtake & financing
- Other part strategic investing
- 3rd part from market
- Most financing will be done next year
- Mostly focusing on sylvinite and kainite
- Sylvinite up top high grade. Kainite SOP
- Carnalite last to be targeted
- Sylvinite is comparable to sask
- Kaintite is average
- Carnalite is fantastic grade
- Individually “fantastic”
- Kainite can be selectively solution mined, have to do some more testing.
- If open pit its definitely mineable.
- Fairly comfortable “that it will be soluble”
- Lower production cost for sop than competition because salt is already built in.
- SOP production more than MOP, but marginal profit better than MOP
- One of the Fastest GDP growth country in the world (top 5)
- Major ethnic group represented within the government
- Various Chinese groups (fertilizer companies, mining funds)
- Product destined for india and china
- BHP used our camps, still use them sometimes. Finished their own camp
- Start their own program later this year
- Will continue to work with bhp
- Cash from ifc and LLM will be used for exploration/feasibility
- Drill in the east before they think about acquiring samaria
- Rather use money for production than land if land is not needed.
- Geophysical work for water, succesfull, drilled water wells. Have no worries about water
- No power, use diesel generator. Will be cheapest and fastet right now
- Power lines are about 100km away.
- 2 roads being built, longest one first. Being graded and paved
- Target port in Djibouti, has enough room to built potash handling facility
- ARGENTINA:
- Close to vale property
- Friendly jurisdiction
- Peter has started program there already
- Got a consulting group working on it already
- Argentina has potential to become a “large project”
- Heat is challenging inEthiopia, but they created a small paradise.