Cash backed and a major Potash resource, page-27

It's the keys to unlocking major shareholder value. I'm not sure what capex was needed for Oxley - considering if it went smaller scale start up then expanded.

First Oxley -

"Start-up high value potassium nitrate fertiliser operation being considered in Prefeasibility Study along with future expansion into bulk potassium fertilisers

Engineering reviews to determine the go-forward option for the Prefeasibility Study progressed during the quarter for Oxley. The Prefeasibility Study is based on a start-up high value potassium nitrate fertiliser operation with consideration of future expansion into other bulk potassium fertilisers"

But now with Admore - DSO operations are typically low Capex - would generate cash for the capex of Oxley .

What margin on $110/t rock phosphate ?
At surface ?

The key here is look ahead to what how dilution will be minimised - compared with hundreds of million in revenue PA and capex funded by Admore cash flow and probably debt. It's a big prize and the pendulum is swinging with credibility to unlock it. .