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.
Emmerson (EML)