Most people will agree that PLS is as solid as a rock, (so to...

Most people will agree that PLS is as solid as a rock, (so to speak).

I have held PLS for a lot longer than I have SYA.

I saw first hand what they had to endure in order to survive and it was not all that different to what SYA is going through now.

PLS is a $9 billion dollar company and has about $1 billion in cash on hand, approximately one ninth of their value.

SYA has a market cap of $315million with $90million cash on hand, a bit under a third of their value.

On that metric, you could say that SYA is in better shape.

Then we look at the cost of production vs realised price for selling spod and we don’t look so good.

I would be worried if nothing was being done to address that imbalance.

The good news is that something is being done, in fact a lot.

We should revisit this in two quarter’s time to see where we stand.

It is my belief that production costs will have come down, the realised price of spod will have increased and we will have proven our mineral resources have grown.