Member Info for westie50

JoMac - here's some more posts from EML on twitter today. They're certainly trying to raise our profile.

https://twitter.com/bobbyoflondon/status/1347486687711162374?s=20

https://twitter.com/emmerson_plc/status/1347473514568298496?s=20

https://twitter.com/HaydenLocke5/status/1347517393703219200?s=20

Further to Slurms post earlier, the project will benefit from a royalty holiday of I think 4 years. A typical Canadian project is subject to a $25 per tonne royalty so costs are kept down for us.

Listening to Hayden, financing is a complicated thing and not just sorted overnight. They've been in discussions and looking at options for months and months.

Work mate. At least i have work so can't complain

Haha very bored Kimhappy. Reduced myself to researching EML!!

Sitting in a hotel room bored to tears so thought i'd pen a little of my research notes which might help any potential investors.

Emmerson is a low Capex High Margin play. Capex projected at just over $400m and a planned margin of 55%. The low Capex compares with Canadian potash miners where a shaft mine would come in at $1.1bn+. There are only 9 potash producers globally which account for 90% of world potash production.

Our projected costs are $14 per tonne along a 135k road to port with a $10 per tonne cost to ship too Brazil. This compares to the Canadian equivalent of $105 per tonne to get to the same stage.

There are many plusses for the project but i looked also at the potential negatives. I guess the main current ones are will the permits be granted? and will finance present an issue? On permits, the Moroccan authorities are onside with the project. The project will have a 4 year (I think) royalty holiday. (Canadian royalty is $25 per tonne) The local GDP per capita could be increased by 40%. The bulk of the required workforce will be sourced from locals, so i cannot see a problem with permits. On finance, I come back to the fact we're a low Capex play and we have some of the best men for the job on the EML management team. As an example, Phil Cleggett, a financier is ex Highfield as is Hayden.

I won't bore you anymore but posters will know i'm very bullish about Emmerson as a long term play. This is now my biggest holding.

Yes the completion of financing has been put back to the beginning of Q3 2021, but construction is still planned for the end of this year. The company aim long term to be a mid tier producer and have a potentially world class potash project.

All IMO and I welcome comments/discussions. Evening all.

EML seem hot on the PR this morning on twitter

https://twitter.com/emmerson_plc/status/1346778633147441152?s=20

https://twitter.com/emmerson_plc/status/1346754718681456640?s=20

It's the old juggling act DC, but hopefully a nice problem to have for some of us.

Kimhappy - ah is TP3 still posting? I filtered him long ago as he brings nothing to the board apart from antagonising posters. I'm not prepared to put up with online abuse so i'd politely suggest you filter him as well.

Apart from him, this really is a very decent board. I really enjoy the varied opinions we all have and there is clearly a lot of knowledge amongst posters. Long maybe it continue. Maybe TP3 will change his tune as I assume he's not as thick as he appeared. He could actually bring some decent opinions to the board apart from his usual rubbish. Until I hear that though, he'll stay filtered.

If he is a holder, then surely he has the same aim as the rest of us and that is to make good money from EML.

I’ve got enough for me here for the time being. If Arc comes good then this’ll be the first place I’ll put in more

93 years?? Now that the epitome of a LTH!!

To add to my previous comments, I think Hillview1, a very respected poster, made the point that all permits need to be in place before a finance deal can be finalised.

Hi Trev79 - Yes the company site has financing/permits complete by middle of this year/Q3. I have been listening again to the various podcasts on the site and i think it's fair to say Hayden in his Crux interview was looking at ambitious targets of late last year. that's obviously slipped but hopefully everything will be in place to enable construction to start later this year.

Incidentally the Crux interview is a really good listen for any new investors as he talks detail about the management structure and company aspirations.

Graham1981 I'll admit i was wrong when I queried you a few days ago. I had misread the RNS's. It's good this has been cleared up and hopefully a deal will be forthcoming. I remain very positive here (as i have been for the past 5 years!!)

GGG - Hope you'll make the decision to take the plunge before too long.

As per other comments, a working capital raise in the near term is likely and has been alluded to by GC. Certainly also i'd expect further dilution to take place as part of the finance package. The higher the sp at the point of dilution effectively lessens the amount of dilution, so another positive.

I know i've said it many times before, but what's not to like??

Good point Chisler and i'm not sure I have an answer. I guess you could say the same about all of ones holdings in that it's difficult to understand sometimes why they haven't appreciated as much as you'd hoped.

Re EML, I'm guessing the market will want to see proof this is a viable project. So all permits need to be granted and at that point finance can be progressed. Once a finance package is in place, then we're construction ready and i'd really hope we'd be multiples of where we are now.

I guess short term, there's the possibility of another fund raise which could stunt the sp, but then I wouldn't be surprised to see maybe an off take agreement (that's just my personal opinion).

I'm really guessing though Chisler in answer to your question and would welcome thoughts. I think 24.90p is the estimate for construction ready? (please correct me if you have other thoughts). Anything higher than that could be attributed to price speculation when production starts? I'm really guessing though but would appreciate your thoughts as well. Cheers

http://www.alignresearch.co.uk/cpt-company/emmerson/

A little brief weekend reading.

Lew82. Couldn’t agree more. We do seem to be popping up regularly!! I’d really like Arc to come in soon as I want to place more funds here. If both our holdings come in then I’ll be very happy as I’m sure you will be.

It’s a pleasure to see a knowledgable and cordial board

Evening gents. Very good reading form you all today. Audible thanks for the informative post. Reminds us we have SOP, MOP and salt. Quite something to look forward to.

Edfinvest - great to hear of another holder. We really are still under the radar but the potential will filter though at some point. I'm delighted with the management team ww have in place and agree an exciting 2021 lies ahead.