Good information but India cannot wait until a mine is built in order to do business with Encanto. As for the off-take discussions, why were the terms of the proposal made public prior to signing a deal?
In an age where secrecy is paramount, especially as pertains proprietary information, i.e, the future pricing of Encanto's product, why did India tell the world -- including Canpotex -- the terms of the proposal?
With that information, the established larger potash community will now be able to raise the stakes for Encanto by bidding lower than 8% below market pricing -- something I believe larger players would most certainly be willing to do in order to keep Encanto from building its mine. This seemingly flagrant breach of confidentiality could prove to be a bonehead move for Encanto if an established player with deep pockets steps in with a sweeter deal.
Such disclosure is good for India, since they're trying to negotiate the lowest prices possible, but Encanto should have insisted that the terms of the deal remain secret.
Meanwhile, for whatever reasons, Encanto seems tentative in its pending disclosures to shareholders. Hopefully, my concerns won't amount to a hill of beans, but I long ago concluded Mr. Walchuck isn't the sharpest pencil in the drawer. Hopefully, the company will survive and thrive in spite of its questionable moves. JMO as always :) Hope we get some positive news soon.