A potash project requires a resource with the chemistry, + size...

A potash project requires a resource with the chemistry, + size of resource of such a quality to attract finance to develop the project.

Reward is a company with limited funds and human resources and has to have clear priorities to achieve a path to development.

Ruane locked up the likely potash areas in Australia in Reward before most people had even thought of potash as a mining story in Australia. This included salt lakes + buried evaporites

It seems clear that LD was the correct way to proceed as it met all the necessary criteria - the other plays are possibilities and they are in the Reward portfolio if required as second + third strings.

Ruane had the strategic vision to secure the best potash properties and then proceeded to put his limited resources into the best one - LD.

It is obvious that was the way to go.

Now he has to put his limited funds into the next level of plays.

The level of 20-20 hindsight on this thread is exceptional.





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