Economics will improve significantly when they start focussing business plan on main game of carnallite recovery - and debt finance. What they have presented so far is close to a worst case.
Long way to go and patience required but this is a 10-30 bagger if they get ducks in row over next year. Fundamental tail wind here is the Chinese need the product and will debt finance a project like this in Eritrea.
But sp still stuck languishing at just over 2x cash backing. Company needs to put out a new presentation to explain economics and potential.
STB Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
