Is anyone actually thinking ICL won't take this project out?
The deal is setup in every way for ICL to take out the project. From the warrants (both volume, pricing and duration), to the retroactively priced private placement (that let ICL take a huge chunk of shares and warrants _below_ market price while claiming they paid a huge premium), to ICL technical collaboration (read: ICL will design the mining process so it meets their requirements since they will own it at a later date) to the full off-take which is merely academic since they intend to buy the project.
The only real speculation is:
1. When?
2. How much?
3. Odds of a catastrophic act of god/war/political instability/complete collapse of the potash market.