I agree with many of the points from topcall, black hole, loser...

I agree with many of the points from topcall, black hole, loser and defplayer. At the end of the day, the best potash junior is the one that gets built. In the Republic of Congo, Mag had a fully fundable potash project but the financing has been the achille's heal. Mag is once again in negotiation for financing and they are being taking to the cleaners. In comparison to Elm, some have pointed out the regional risk being in Eritrea. However, have a look at the Republic of Congo's neighbour, the Democratic Republic of Congo, which is risky at best.

I have not seen one potash junior that is in the process of building their mine during the last 10 years. KCL was one of the best Saskatchewan juniors and Matysek the CEO and Friedland who is a world recognized financing expert could not raise the funds to build the mine.

STB and AAA in comparison have projects with substantially lower capex's and opex's but very importantly have world class financial investors who have taken substantial equity positions in these companies.

If you did an analysis of all the potash juniors and picked two juniors that have the best probability of being built, in my opinion it would STB and AAA.

Also, if you look at the substantial expansions of the major's potash brown field projects (POT, MOS, Russians) and the possiblity of the building of the potash juniors greenfield projects, there could be millions of tons of potash production coming on line starting in 2015. So, there is a substantial advantage in being at an advanced stage in the project and in being able to build the mine in a timely manner ie. STB and AAA who are both considering open pit.

GLTA,

Sam