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Focusing on the Dallol Potash Project in Ethiopia

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Message: The breakup of the Potash Cartel by Uralkali

EDX.... You make a good point in that the potash price erosion put most Greenfield in a very bad light in terms of viability.... I have no doubt this was planned.... 95% of these projects could easily dry up including putting pressure on BHP and their project...

The comment about farmers not requiring potash and using other nutrients is an untrue statement. Farmers can try to skip a year and hope potash reserves will be adequate enough to books the crop through with out loss of crop quality and yield, but long term the lack of potassium will reduce crop yields and MEY (Maximum economical yield). In other words applying a dollar of potash will return $1 + in yield and quality benefits.

I do agree farmers will try and move away due to ignorance of the results but they will be forced to utilize potash for the results they will obtain.

Allana is a viable project. We have seen the numbers and this is why ICL has partnered with them. The feed study is a good sign IMO financing is anticipated soon Otherwise it wouldn't have been started.

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