General discussion, page-432

My understanding of the resource is that 30% is the cut off grade and most Ardmore product will be sold at 35% P2O5.

From DFS:
Quality Parameters

o The cut-off grade and mining method provides for a sufficient process plant feed grade to

produce a >34% P2O5 product based on the proposed flowsheet to allow for its potential use in

Australian and New Zealand SSP (20% P2O5) production without the need for blending;

Also Ardmore rock phosphate is very low in Cadmium which attracts a premium.