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Re: justin_a_lyesse post# 11753

Saturday, 01/31/2015 8:02:42 PM

Saturday, January 31, 2015 8:02:42 PM

Post# of 12338
Justin, correct, I didn't know that 30% decrease taking place. That worries me. Also I was not at the meeting because I do not live in Canada or USA and at moment Shanghai is city where I live. Also I am not coming from English talking area so excuse me that occasionally in my posts I can't use appropriate words to express feelings behind it but this time it looks like my feelings were described well. Yes I am disappointed. Not have intentions to sell my shares but thinking to add more on present prices to average down. Honestly speaking afraid to do so due to recent developments, due to Farhad has promised so much but not much has come. What has happened with London listing for example? Would like to let you know, I have master's in engineering and at moment one of engineering site leads for a multi billion project in China so very well aware what it means to suspend a FEED study. Also to come with SOP part of project at this stage of MOP project is if nothing else unprofessional. It implies that management was not aware of SOP possibilities till now?? I doubt it but if that's the case we should sell our shares immediately. Think that SOP part is a spin that Farhad using for unknown reason to us. Hope it is not in order to buy patience. What I believe is that infrastructure is not ready yet for a project, Ethiopian market is not ready yet for MOP or SOP, potash price is still in long term bear trend, supply exceeding demand and IMO not many institutions will agree to finance the project soon. All that is very favourable to ICL and not favourable to us. Knowing all what I have mention and buying shares a year ago sounds contradictory. I decided to buy once Farhad stated will go for financing (stated in final stage at that time) and construction in parallel with developing market in Ethiopia and once infrastructure finished Allana will be already ready for production. Usually buying just before financing is best entry point. It was stated if remember well that construction will be completed mid 2016. One of the reasons to buy Allana shares was low cost of potash. Sounds strange but my logic behind was that only Allana can be profitable project with such low potash prices. Sometime less is more. To say one more time, IMO project is great but mngmnt not with the huge accent on Farhad. Every few months he announce bombastic news and than nothing happens. Very unprofessional IMO. Also for me very unlogic how you as investor can cheer and suport recent mngmnt moves. At the end what is your opinion regarding possible buyout by ICL? Would they possibly offer 0.7usd per share (close to 0.9 cad) or that price is to optimistic? Also ICL stated that CAPEX will be considerably higher than originally planed, if I remember well and that they will stick with of take agreement only? Thanks in advance for comments

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