Eran Friedlander: We?ve been successful in finding phosphate in Brazil already on one of our projects?it is at-surface, high grade mineralization. We plan to take it into production by the end of the year, so that?s where most of the value is going to come from initially.
Eran Friedlander: We know that the first product we are planning to produce is in very high demand in the region where we are located with that specific project.
Eran Friedlander: We have already conditional orders from local farmers to buy our product.
Eran Friedlander: The sale price per tonne ? we are planning to sell it at around $100 per tonne. The closest alternative is selling at a price that is closer to $200 per tonne.
Eran Friedlander: The cost of mining it is around 30% of that sales price so a 70% gross margin.
Eran Friedlander: So the first year we want to capture 30 percent of the local marketplace with is a million tonnes, so within the first three years, we want to reach 300,000 tonnes a year in sales volume.
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