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Exclusive: Hayden Locke, CEO Emmerson plc, a low cost high margin potash investment

Hayden Locke, the CEO of Emmerson plc spoke to London South East about the Khemisset Potash project in Northern Morocco.

Potash is the name used to describe agricultural fertiliser with a high concentration of potassium in it, with most produced in Canada, Russia and Belarus.

The main markets are what you might expect: China, who have their own mines, the US, Brazil and Western Europe. Morocco imports fertilizer currently and its needs are growing. If you take Brazil for example, the delivered to the market price is $360 per tonne. According to Hayden, very few potash mines are developed from scratch as the capital costs can be very high - as much as $4 billion.

At a projected cost of just $400 million CAPEX he says this makes Khemisset a snip and much lower cost than its peers. And there are only 2 listed potash miners on the Junior market for you to invest in. When taking the delivered to market costs Khemisset is in the bottom quartile of costs, so potentially very competitive and close to its end markets of Brazil, North West Europe, the US, SA and Morocco.

Hayden says the business already has between $3-4 million dollars on its balance sheet and needs say $5M to get them to the point of raising the larger sum through a mix of debt, equity and industry funding.



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