Cash backed and a major Potash resource, page-38

everything occurs in cycles and black swan supply disruptions.

while we should be profitable with a high grade DSO rock phosphate at 110/t US, wouldnt surprise me if the ag sectors follow the just about everything else higher.

"Ardmore is one of the very few undeveloped high-grade phosphate rock projects in the world, and the deal provides Centrex an opportunity to fast-track development of an advanced asset into revenue generation, that will also support longer term development of its Oxley Potash Project. The Ardmore deposit has 302 historic drill holes completed over the outcropping deposit, with drill spacing down to 20 m by 20 m in some areas. The target phosphorite unit is shallow dipping, with the average depths from surface of the hanging wall and footwall contacts being 8.3 m and 12.0 m respectively based on drilling to date, indicating favourable shallow open-cut mining operations. From historical bulk sample excavations at the site down to 10 m using a D9 dozer, the mined material is expected to be “free-dig” without the need for drill and blast. "