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chisler, we'll see but dont confuse EMLs mcap with size of Khemisset. it'll be the world's 7th largest potash mine and open new markets for OCP by blending with its huge phosphate resources. whatever the outcome, however we get there, in the end of we leave it to the experts.

Most important element here is the OCP deal which is almost certainly being discussed in my view. That will unlock everything else unless the ESIA / Env Permit comes first. I would take a look at M&A activity but lack of similar projects does not yet give any benchmarks. I believe its only a matter of time before Muga Project is taken out and then there'll be "nutricious" read across to Khemisset where I'd say EML is about 6-8 months behind it.

I don't know why you'd try to compare an eye-wateringly expensive nickel laterite project that the entire market knows will not commission on time, budget or commisson without needing further funds, to Khemisset when there are more relevant peers, one of whom has justed started construction and almost 3x EMLs market cap despite being a smaller project. Just saying.

Less than 3 years to full production I recall from investor presentations. I think someone is getting confused with high capital intensity deep shafts projects such as BHPs if talking 5 years+. Just highlights the advantage of Khemisset's near surface, simple resource and proximity to infrastructure. Wanted to add, EML reckons quality juniors should be valued according to peer group, at 30% of NPV at pre-production stage but recognises one prerequisite is attracting quality shareholders to the register.

Personally don't see Khemisset being owned by EML by the time it reaches production so £1.88 might be academic. As for sp, how it behaves is a function of how its currently rated for the project's status and its attractiveness to the international market. Typically you see a lull during the lengthy permitting phase, which we have here, however compounded by a general market sell off. To me, this sp / mcap will rise into completion of main permit phase, customer offtakes and securing project finance. As the project is built, sp further rises toward commercial operations. Hopefully the rest of 2022 contains all the news investors want and brings international market attention to Khemisset.

Unless PIs have suddenly found £100s of grand of free cash stuffed behind their sofas, hopefully we have professional buyers coming in on something tangible given regularity/size of trade blocks.

Decent. Just looks a bit more meaningful with the trade sizes. If it continues, there's merit to the idea there's something behind it that's been agreed at least in principle. I'll be more enthusiastic when we at least reach HFRs marketcap.

I doubt its this news article breathing life into the sp today. Raising awareness is on its own useful but that's what EML and Liberum will be doing anyway. Still, good to buyers coming back in whoever they might be.

The turnips in the main appear as green boxes these days. But the market does seem to picking up for intrepid explorers (that's us by the way!). As much as I can moan about "the market", fact is, there's been no EML specific news to justify anything different. Still confident value will out and macro picture very solid for this project to get built.

I think there's some merit to this. While the co will have submitted its documents and responded to Q&A etc, that doesn't mean EML itself might be proposing changes following engineering work eg using water from the nearby municipal water treatment plant. In the grand scheme, if EML hits its 2022 target then its just one part of the jigsaw. I can wait!

Well, judging by the postings here - whether green boxed or not - there feels a good tick up in interest. Always hard to wait as a PI outsider, but confident we'll get there.

CT - can't remember exactly (laziness), but EML has based its NPV on 13 years but talks of potential to extend NPV to 30+. Beyond that, I don't think there's much point even if you potentially have 100 years. One thing I noticed in EMLs recent presentation was that it compared its metrics to Highfield but in the footnotes, should really have pointed out Highfield used 30 years for its NPV calc yet was only around $200-300m larger. I'll expect a nice tick up to the NPV through re-sighting the declines and value engineering taking place e.g. tailings, water.

Yes, but what I meant was there's room for more than one potentially.

Yes, I'm sure EML is well aware there needs to be an invite and opportunity for OCP to offtake/invest in Khemisset. That doesn't automatically exclude other partners mind. Happy to let the big boys and professional advisors sort this out. Couldn't ask for a better combination of mining jurisdiction in MENA (aside from Saudi) and government level relations.

To add, eml has a few times referred to OCP and most recently in it's presentations, OCPs NPK blending facility. I'm quietly confident something is brewing. As for the CLNs that are intended to be exercised as part of project finance, I'm actually hopeful that we can do better and secure equity at a higher sp given the new world we are in. Finally, looks like another PI bit the dust this morning. Good team beavering away and it's complicated / time consuming bringing it all together. I can wait for Liberum to guide us to the most efficient finance structure, which I hope includes some non-dilutive offtake finance.

Don't know where today's outpouring stems from but I thought RNSs showed we were shooting for all engineering, conditional financing and permits done in 2022? ESIA award looking a little later than I wanted. OCP? I imagine there are talks ongoing that'll be a bit more complicated than splitting the bill at your local curry.

Good stuff getting mentioned at the highest levels. Another confidence tick if it were needed and again highlights the importance of the project. On ESIA timing - is what it is. Done to highest standards etc. Liberum estimated "mid year" a few months ago. I can wait a few days or weeks for something so transformational. Shame about the sp though on a daily basis, the number MMs print is meaningless unless if course you need the money. Personally I expect to see some M&A in the potash space that'll underpin much higher sector valuations.

Nah. Bigger things going on.

Milestones on the company's own timelines are stacking up for Sept-Dec. No issue sitting on my hands waiting for those big parcels to complete. Personally reckon EML will formally trigger construction in early 2023 though will be "shovel ready" this year. For now, just looks like a few PIs that can't afford to hold / hit by cash calls with a bit of the usual MM skulduggery thrown in. PS, HZM I wouldn't have bought at 9p.

Vela is waiting for a bit of good news pump to get a placing away having added the IR guy recently I guess. I imagine PIs are thinking the same hence why they're not buying.