Stripping out the "new" shafts isnt without cost, the old shafts...

Stripping out the "new" shafts isnt without cost, the old shafts will probably need significant maint capex sunk to bring them up to modern needs and probably increases the risk because im assuming this mine is flooded so when they pump it out things might be a bit hairy.

US$520m is not possible to fund for a company of this size... even US$150m would be very difficult.

I think you would struggle to find MoP deposits being bought by larger companys simply because they are common.... and frankly the hoping another company makes a takeover approach rarely works for any commodity. You have to be able to advance the project or you have 0 leverage... there are multiple other potash/phos companys with similar economics that are more advanced that have been stagnent for a very long time.

@Snakedance You should welcome both sides of any investment thesis. In 2 years you will be able to look back at my comment and say oh man that guy was right, he actually did know what he was talking about.