RE:RE:RE:RE:RE:On the magnesium projectWhere to start. Talk is cheap as Robin has proven more than once. If they had interest for the magnesium they had to structure something. Like many capital intense projects, putting all the pieces together is the challenge. I have said this before and Robin eventually admitted it in last years AGM before the Uralkali news that capital markets were not jumping on board. The commodity and mining sectors have been out off favour for a while as this latest correction in the market creates more uncertainty. Add low potash prices and the amount of time this is taking isn't helping. Getting another partner that will buy the balance of the production that will accept the current delays and put up money is easier said than done. The first $100 Million was easy with projection that could not be delivered. At these prices it is even more challenging.
Potash prices are rising slowly and will take several more quarters before we get a sense they are sustainable and a weak CDN dollar will help. Currently, none of the juniors are doing any better although their declines are less significant. More than that, one has to hope that something can get done soon as costs have been reduced. Admittedly, the longer this takes, the more tightening will be required. Let's hope the other interested party they have been talking with is progressing.