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Focusing on the Dallol Potash Project in Ethiopia

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Message: ICL

Jimmy J.... You bring up a good point in that ICL does have the right to match on the MOP side. My bet is Allana is trying to get ICL to take the SOP as well and maybe a much higher buyout if they are moving this direction. I don't think ICL will want to share the deposit and split it off with another fertilizer company.

We do know others are looking heavily at the SOP... The question is ...will ICL allow the SOP to go to others. My bet is no ICL will take it as the wheels are in motion... ICL doesn't like the dead sea issues and have already stated they will be increasing their interests abroad. They have started a program in Ethiopia to develop the potash and threy are cozying up to the govt.

I woudl expect ICL will be involved in the MOP and SOP providing all looks good with the SOP PEA... All speculation at this time.

Good discussion.

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