Perhaps let's (at least myself) not look for GA as it will be another 5-8 years (if it even completes), especially when funding for phosphate has not even "finalised".
Immediate concern is higher discount rate (10 year Treasury yields is approaching 5% so no way a project by a company of this size and in a land like Africa expects 10%). Phosphate price may or may not rebound next year (if it does, great, but there's no guarantee), but discount rate is 100% higher than originally envisioned.
Perhaps let's (at least myself) not look for GA as it will be...
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