DDzxSorry to say but now you disappointed me! (:-< You are the...

DDzx

Sorry to say but now you disappointed me! (:-<
You are the oldest person here chasing this stock before anyone. If you are like this, I can understand now that why ELM is still not more than $3 atm despite having those high grade KCL assay results.

Anyway let's look at your question now.

There is a huge grade difference between sylvinite and carnallite. All of the big potash mines in the World mines sylvinite but not carnallite.

The KCl grade in sylvinite may be between 17%-45%.
Average: 25% is OK.

The KCl grade in carnallite may be between 5%-20%.
Average: 15% is OK.

ELM has very high grades of KCL on EK-01, 05, 04 and 06.

EK-01 .. 4.20 metre thick 38.75% KCl
EK-05 .. 3.08 metre thick 43.45% KCl
EK-04 .. 3.58 metre thick 39.27% KCl
EK-06 .. 4.50 metre thick 45.59% KCl

The KCl resource only around these holes are the company maker grades. The Measured Resource on these holes are 12.84 mt (my calculation). This is huge.

If you look at STB's latest Maiden Resource estimation for the 3 holes, their Measured Resource estimation is only 6.20 mt. This is half of the resource size in our 4 holes, and we have a lot more holes in the area.

STB have no considerable amount of potash on the other holes. I said before that they are stuck in that area and no more to go for potash exploration, so they have made their Maiden Res. Estimation only for 3 holes in a hurry to keep the SP high, but I think it is not working as STB sp is severely coming down. (basically STB has no commercially viable potash resource)

In regards to ELM's Capex, I haven't calculated anything in detail yet. We can stick to ELM's statement for $500-600m for 600kt annual production. It would cost another $100m to expand this facility to 1.2m tons per annum.

The Capex of $600m includes an own port facility, power supply, roads and a camp.

$700m is very low Capex for 1.2k per annum. That is because of high grade KCl, low labour costs (1/10 of Canada), low energy costs (1/3 of World markets), proximity to ports (1300km in Canada, 50km in Congo) and low water cost, and so on.

Cheers