Interview with Hayden Locke, CEO of Emmerson PLC (LSE:EML)

Emmerson is a potash developer based in Morocco. Emmerson's primary focus is on developing the Khemisset Potash Project in Northern Morocco. Morocco, the gateway between Europe and Africa, is a favourable jurisdiction for both mining and business.

The potash market is dominated by China and is a little saturated. Does the market need another potash story right now? Buyers would argue yes as competition is good for price. The investment market is possibly less sure, but Locke explains why he thinks being a lowest quartile cost producer removes the uncertainty for them. Gold is flourishing, and plenty of other commodities have seen exciting recent events act as catalysts to spur encouraging levels of growth. The potash market itself has a modest 2-3% growth pa and the price has been stagnant.

We are keen to see how the business plan progresses, with the next step being FS and finding a funding solution which minimises the dilution.

However, the fundamental macro story of potash combined with the low capital intensity of Khemisset paints a very positive picture for Emmerson, especially considering most potash projects are very costly. What can Locke deliver in 2020 to add further value to a share price that has been soaring recently?

What did you make of Hayden Locke? 

Company Page: https://www.emmersonplc.com/

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