Ann: Correction - Exercise and Lapse of Options, page-23

I just can't see how the extra cost of shipping for the world's number 1 supplier of phosphate is going to make phosphate prices go down in the long term.

Maybe they are offering a discount to customers as you say, but I can't see this being a long term viable solution.

Further restricting supply and increasing the cost of delivery will mean that phosphate prices will have to go up.

GLTA!