RE: large capex30 Dec 2018 09:26
A series of Ed McDermott tweets (@edmcdermott12) from the 4th Dec - share price was 3p at the time:
#EML while I’m very disappointed with the current share price, I am pleased with the speed and precision of the operational development. Our scoping study is superb and we are well funded till 2020. #Potash
It has been anti-climatic and I think it comes down to investors believing that future capex requirements are going to require big equity placings. A project of this scale with this level of IRR it’s a very good fit for banks to project finance.
EML funded into early 2020 which Hayden has stated in interviews and RNS. The team achieved project financing for Highfield on a lower IRR (at the time). I have confidence Khemisset is a very financeable project and of national importance in Morocco.
Hayden is an exceptional CEO, I believe his knowledge of the Potash market is second to none. He is not short of job offers and wouldn’t be running EML if he didn’t believe it was significant. This is not advice or recommendation to buy, hold, sell etc. Always do research.
Re future items there are many to look forward to. I can’t discuss specifics but the Scoping study is just the beginning of development. Potash is a favourite of a number of major miners, Potash miners achieve similar ratings to chemical co multiples