Ann: March 2021 Quarterly Report, page-8

If you look at the big internationals like Mosaic and Intrepid you can clearly see an upswing in share price from mid 2020. Fertiliser stocks have risen. A major problem is the Aussie dollar started to rise against the US dollar at the same time.

The US fertiliser stocks have risen but are a very long way off their 2008/2011 highs. The Aussie potash stock that has been around the longest is RWD, it is worthwhile doing comparative overlays of MOS and IPI v RWD. You can clearly see a junior Aussie potash stock moving with the international majors.

If the majors continual to see gains and the Aussie dollar stops rising, SO4, KLL and the other Aussie potash stocks should move.