Prospect Global Resources Inc fka PGRX

[Steuvin]

"...but I feel their [Passport's] project's capex is just too high for the current market."

It is very interesting that you say that. The spokesman for Passport told me a month or so ago that Passport is thinking of proposing a smaller project (around 1 /12 million tons per year instead of 2 1/2 million tons) in order to bring the capex down.

Maybe you are right that the developmental work Prospect is doing will pay off for its shareholders. Maybe I have been focussing too much on Prospect's debt and not enough on its potential. We'll see.

It would be fine and dandy with me for Passport and Prospect to merge and for the shareholders of both to get rich. Still, all things considered, Passport looks to me like much the better bet of the two.

I have been wrong before--lots of times.