Answered again
So your game plan asphalt is to call me a liar several times , say I'm despicable, and refuse to admit when your wrong, while at the same time saying to me that I am refusing to answer a question I already answered.
Do you imagine that by constantly repeating this, while at the same time referring to what you said as some kind of well intentioned slightly misleading expression, that people will forget that you, in my opinion deliberately mislead the board with intentional false statements about a JV.
Maybe you feel if you say it enough times people will think Your telling the truth?
Who knows.
You stated that the rcf document referred to a JV being explored between EPO and RCF.
No such document exists.
Now, that on its own is nothing terrible.
We are all capable of posting something with good intentions, thinking, "I'm sure I remember it that way", and then later realizing we were wrong.
The mark of an honest and humble person, is not never being wrong, because we will all get something wrong regularly, But it is instead the ability to just say "I'm sorry, I made a mistake".
Now the reason that I think you deliberately misled the board, is that when the truth about the document was pointed out to you, instead of saying you made a mistake, you tried to avoid it or showed fragmented clippings of the document to "prove" you were still right.
Anyhow, I will answer your question for the 2nd time by posting it again, and this time underlining my answer so you can not accuse me of refusing to answer. And I will also post links to the 2012 document that doesn't mention EPO and is about rcf hiring a financial advisor, and i will also post the 2013 document that refers to the consortium negotiating an offtake agreement.
I will underline and/or highlight in bold my answer so as to help you see, and understand it.
Your question was this "If the probability of funding is SO UNREASONABLE and SO UNLIKELY, why do the Rashtriya chemicals and fertilizers Ltd(RCF) hire an advisory service ?????"
Here is my answer
Now which one of RCF's documents are you referring to asphalt, the one where you claimed falsely that it talked of a JV between EPO and Rashtirya or the one that doesn't mention EPO at all?
The answer to your question is this...
The document that you are referring to that does not mention Epo was from around the middle of last year, and it invited tenders for an advisory service to evaluate an investment in a potash junior.
This occurred so as to hire a Financial Advisor to evaluate the possibility of an investment in a junior potash company. Because that's what large companies do, they seek experienced financial advice to see how they could do it and if the idea is feasible or practical.
Now it is curious that this occurred in 2012.
Then in 2013 another document surfaced with no mention of any investment in a junior potash company, and instead referred to a consortium of companies led by RCF negotiating an offtake agreement, with nothing mentioned about purchasing any stakes or shares in Epo.
So my OPINION on the matter is that Rashtriya may have gone cold on the idea, especially when it realized that parting with any of its roughly $110 million of available cash wouldn't get it very far when dealing with a massive $3 Billion mine capex.
Now add to that the recent news release by K&S stating that their capex had increased to $4.1 Billion, and it is again my OPINION that interested potential strategic partners are starting to look at the management teams and costs of the $3 billion mine plans and go "Hey, if K&S has a 2.8 million ton mine plan and an exceptionally experienced potash mining management team and they can go $800 million over budget, what will happen if we invest in a junior company that's management has never designed or built a potash mine before? How much can their project go over budget?"
Now add in my OPINION that when a financial advisor points out that a $36 Billion company like POTASH CORP pays average interest rates above 5%, and then explains in detail to the potential strategic partner the amount the interest payments on a $3- $5 Billion mine build would add to total costs, I think cold feet might be the order of the day.
Again
If I can recollect correctly this is the 3rd time the legacy project has had it's capex revised upwards.
Wpx's management recently stated this "On this last note, it’s worth noting that Milestone is very similar in terms of its size and its commercialization costs to the Legacy potash deposit, which is now under construction."
So the question is, would Epo's management see their mine as similar "in terms of size and its commercialization costs to the Legacy potash deposit"
Correct me if I'm wrong on this but aren't the deposits of Wpx, Epo and K&S all primarily sylvinite?
And isn't the mine plan for all 3 to reach full production at 2.8 Million tons?