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Focusing on the Dallol Potash Project in Ethiopia

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Message: Re: grm9727 would you be interested
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Mar 27, 2014 12:01PM
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Mar 27, 2014 12:10PM
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Mar 27, 2014 12:44PM

I have a few questions that would be great to have answered by someone face to face (easier to get a sense of the conviction behind the answer, plus Richard doesn't like me):

1. RE: Financing loans. A specific question about the two loans (AfrEximBank and ADB) that are public domain. Specifically the question to ask is if those two loans of approximately $567 million US and $50 million USD, as disclosed by AfrEximBank and ADB, are still in play and at the same amounts.

One convenient "coincidence" is that $567 million (AfrEximBank) + $50 million (ADB) + $25 million (Equity Tranche 1 and 2, ICL) = $642 million - the total financing amount required for the mine, including contingency.

2. RE: Debit/Equity Financing. They have already stated they are looking at 65/35. I guess the question is, are they looking at other ratios or models as well? In other words, was that just the "under-promise" expectation but they are actively seeking alternative ratios?

3. RE: Equity Financing. If ICL extends financing loans to AAA, and ICL owns a part of AAA, could the proportional percentages of financing loans hypothetically be considered equity financing in their 65/35 model?

4. Has AAA considered paying for promotion by Blackstone? :P.

Don't actually ask this, I'm just appalled that WPX gets a speculative run on that garbage, amateur analysis and promotional tripe.

As you can probably tell, dilution is my main concern - I have total confidence this thing will be built barring a complete disaster (terrorist attack/war, act of god or a collapse of potash prices to $150/share).

3
edx
Mar 28, 2014 11:19AM
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