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Pin to quick picksEmmerson Media (EML)

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Share Price: 2.35
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Potash developer Emmerson announces final mine access, with low costings on budget and on track

Highlights of the detailed interview with Hayden Locke, Emmerson CEO by Donald Leggatt, Head of Investor Relations at London South East

* Hayden Locke 'very happy' with such a low mine cost, confirmed at $34M, as it is one of the major costs of any potash project globally and 'makes this project an absolute standout'.

*This is up to 95% cheaper than Canadian potash mine comparables which use shafts. Khemisset will use decline access.

*Main difference is that Khemmiset declines are through salt and a short distance from road access

* "It's pretty rare for the Feasibility Study number to be less than the Scoping Study number" according to Hayden. More detailed engineering means the costs tend to creep up. * Expect the full Feasibility Study "any time between now and the end of June, with no delay to the H1 guidance expected" advises Hayden.

* Coronavirus "has had some impact on our ability to work, but not so major as to miss our deadlines".

* A new mine location reduces costs, has smaller decline and lower surface area * "We still talking to strategic partners and because of our positive cash position we are not in a rush to do anything" explained Hayden.

Related Emmerson Media

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