the biggest advantage of stb

If anyone has not read the latest announcement from another ASX potash player here it is.

http://203.15.147.66/asxpdf/20110609/pdf/41z42wx7v0cnct.pdf

Important things to take note of:
-STB is targeting 2-10mil pa production whilst ELM is aiming for 1.8mil pa.
-ELM operating cost of $99t, one of the lowest in the world due to cheap labour, shallow resources and close to port. STB should have similar if not even lower costs due to open pit and close to Asia.
-ELM has a capex of 1.7B, how this came out is unknown and biggest problem for ELM. STB should have lower capex due to shallower mines!

With all these advantages, we are still trading at a heavy discount comparing to peers :)