Kontrarian Korner - Farhad Abasov, Chairman of Millennial Potash

Yesterday I had the Chairman of Millennial Potash, Farhad Abasov, on the podcast for the first time. Our conversation focused on the company and their Banio Project, which has the potential to be a very large asset that produces for many decades. We also covered his outlook for fertilizers and potash, the plan and timeline for the company over the next couple years, and what investors can look forward to as they continue to advance the project. You can find out more about Millennial Potash on their website. Podcast Summary* The background on the company and the project, and what their team looks for when they are looking at assets.* His outlook on fertilizers, and specifically on potash.* How food security and supply chains are becoming a bigger focus for powerful countries like the US.* How their team thinks about political stability and jurisdiction in Gabon.* The massive size of the project (over 1,500 square kilometers, or half the size of Rhode Island), and the thickness (grade) of their drill intercepts.* The importance of having USDFC in their corner for financing, and some of the other parties that are waiting in the wings when the time comes to build the project.* His rough framework for financing the project through a combination of debt, royalties, equity, and potential offtake agreements.* Port infrastructure and logistics, and what will have to be built when the project comes online.* How they think about potential acquisitions, and what it will take to actually get to production.* The expected timeline for the rest of 2026 and 2027, including the drill program in progress.* Where things stand as far as the cash level and the balance sheet.* The long term upside, and why he thinks the Banio Project will produce potash for decades.* Book Recommendation: Civilization by Niall Ferguson.Kontrarian Korner is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.kontrariankorner.com/subscribe