re sprott and todays roller coaster, page-44

"One of the largest risks for a potash junior company is the financing risk."

The capex for STB is $750m, not the $12b that BHP is trying to raise for Jansen.

When Nevsun failed to raise the funds for its project, the Eritrea obtained funds for the company through some international body, which provides funds for under-developed countries.

The mining law requires STB to sell 30% of the project to the Eritrea government at market price. We are not sure what this price would be, but hopefully at least $100m.

If my reading is right, the Eritrea govt will fund its share of the capex, that leaves STB with $450m, less the $100m it picks up from the govt, the net amount to raise is $350m. $350m for a world class, tier 1 project for $350m would be no issue at all.