Good points exdiv. The thing that needs highlighting as well...

Good points exdiv. The thing that needs highlighting as well with all of us is the geography of the project. With ELM and STB, you have projects that are located in areas where significant discounts have to be applied (namely Eritrea and the DRC respectively).

With POK, you have a project that is 15km from Intrepid Potash and a key aspect worth noting is that the US is very keen to secure potash supplies (as opposed to relying on the Canadians/ Russians.)

Recent chat has also highlighted that potash prices are fairly well correlated with corn prices (as well as other soft commodities.) With that in mind, we have a combination of micro and macroeconomic factors that could be very supportive.