Ann: Ceasing to be a substantial holder , page-9

Another listed company ( on the Toronto exchange) with a potash deposit similar to ELM’s is Alana potash ( tsx code AAA)

The difference is Alana’s deposit is in Ethiopia vs our’s in Congo

Elemental has a resource base of 580MT of Potash

Alana’s has a resource base of 290MT of Potash and is situated a few hundred km further from a port than that of Elemental.

Yet its current market cap in Toronto is $111m CAD……and ELM’s is $67m ?!?!? Go figure?