Member Info for 99icecream

A couple of additional points.

The difference between my numbers and Beyondthesea's. "KMP reduces process water consumption by up to 60% (total water by 50%)". Therefore total water consumption = 70m3/hr, process water 56m3/hr.

The hourly water requirement is 70 Cubic Metres per hour and thats about 56 Cubic Metres Grey / 14 Cubic Metres Potable.

BTW if the local committee are looking for money for potable water to partially or fully offset the water use, this is probably going to be in the form of funding boreholes and/or short pipelines to distribute water locally.

https://www.eib.org/en/stories/morocco-water-scarcity#:~:text=Critical%20need%20for%20modern%20water%20supplies&text=In%20the%20Fez%2DMekn%C3%A8s%20region%2C%20local%20officials%20raised%20about%20%E2%82%AC,is%20one%20of%20these%20projects.

In general the plan is for populations near the coast to be served by desalination and for inland areas to be served by Dam water / bore holes.

https://smartwatermagazine.com/news/smart-water-magazine/morocco-unveils-ambitious-desalination-project-targeting-14-billion-m3

The 5 x 500 k trades look like sells. They are in GBX and probably reported late (hence unknown). That's about 4 million shares traded today of which 2.5 million sells and 1.5 million buys approx.

They are traded in ZAR not GBX. The 9:20 trade is 100k at 0.73 ZAR. The 9:28 trade is 27k at 0.74 ZAR.

You can see the details on the London Stock Exchange website. This website can't interpret the trades, hence Unknown.

Sloopy Joe - I don't think your comments about potable water are relevant. However, it could be the case that CRUI have a problem with the use of grey water, after all it can be used for irrigation, which is important also. If that's the case then they may want to "tax" the use of grey water and put the proceeds towards improving the collection and distribution of grey water. The other area where there could be concerns is in the greater need for trucking, of Ammonia and Phosphate to; and Struvite away from, Khemisset. Again there may be "tax" involved to improve the local roads.

IMHO JazzyGeoff has this about right. EML have been told that the current proposal is not acceptable without improvements, but they do not have the detail yet as to what changes the CRUI might require. Anything short of acceptance is clearly unfavourable as it will cost EML money and maybe further delays. EML clearly had to inform the markets as soon as they were aware of the CRUI's verdict as the information would probably leak onto the markets otherwise. Until we know more, we do not know if the market reaction is overdone or not.

These are deals that are reported late, either deliberately (in the case of large deals) or due to system problems. These deals are flagged as unknown as it might be misleading to compare the (late) deal price to current buy and sell prices. An example today is the 8:34:32 trade of 335,739 shares (probably a buy) was reported after the 9:00:51 trade of 170,000.

While we are waiting you might be interested in the book "China's Vulnerability Paradox", recently published. The book is about how China wants to dominate the various markets where it imports "strategic resources". It has a chapter on Potash.

https://academic.oup.com/book/56144?login=false

I'm sure we have discussed the water issue at length before on here. You do not need desalinated water for producing Potash. Grey water is ideal and in plentiful supply. That does not mean that Grey water is not of value, as its ideal for irrigation. The water needs of the KMP are about the same as Two and a Quarter 18 hole golf courses. Morocco has approx 40 of these golf courses aimed at tourism.

I have no idea what sort of improvement in the MRE will occur in the short term. The KMP process involves recirculating brines so that a larger recovery of KCl is possible. It also allows the use of the Magnesium in a high-valued, slow release, fertilizer. Struvite is highly valued as the slow release means that more is absorbed by plants and less is washed away (causing pollution issues is streams/ rivers etc.)

A some point, further drilling will allow an addition increase in the RME as previously neglected (Carnalitre rich) areas are surveyed.

You have a few inaccuracies here.

Carnalite is not harder to mine, it just contains less KCl than Sylvinite (a mixture of NaCl and KCl) and its harder to separate (pure Carnalite is approx 25% KCl ).

They won't be mining Struvite. Struvite is Magnesium Ammonium Phosphate. The Magnesium is the only part of Struvite is to be mined by Emmerson (it is about 9% of pure Carnalite).

Matador78 - You may be correct, its certainly a possibility.

However, it seems to be obvious that EML and OCP should be exploring areas of co-operation (synergies) regardless. Also, if EML do end up selling Khemisset to OCP, the only way to extract the maximum price is to have a viable alternative.

Small buys on JSE (100k or so) little selling. At this rate JSE will trade at 4p before LSE trades at 3p !

Iron Ore prices up significantly again today, October futures + over $9

IMHO - Any competent CFO would not join EML ahead of the ESIA approval. Attempting to "spin" this as a cost saving measure is a poor idea.

6,000 shares were sold at ZAR 0.76.

I can't understand why there is such a difference between the prices in Johannesburg and London.

All a bit Schrodinger's cat !

Bid / Ask is about 2.90 / 3.00 equivalent, only about 600k traded so far.

The large buyer probably assumed that if he showed his trade to the market they would offer to deal at a higher price than 2.5p. If the buyer did not trade the offer price would then be raised by the market makers as they know that there is a larger buyer. Going to the auction allows the buyer to offer to deal directly with the whole market at 2.5p.

The market makers are required to deal at their quoted prices (or better) for up to a limit (currently 300,000 shares for KP2). So the 1.86 million buyer used the auction to get the 2.5 p price. This was then followed by two further trades at 300k each also at 2.5p.