Ann: Investor Presentation - First SOP Production and Update, page-8

Gibbaz you are most likely correct right about it putting a brake on the rerate but you have to ask yourself in 12-14 months will it really matter as over that time is when the real rerate is going to occur. If they get it out of the way now we will have a significant bump in sp when we get the announcement that we have delivered the first shipment to K+S. This is the beginning, holders shouldn’t chew their fingernails off over a small cap raise which over the life of the project will be pretty inconsequential. Well done to the management and all shareholders!