I am going with Amazon Mining for potash exposure (AMZ.V, AMHPF). Cerrado Verde is Amazon's advanced project, located in close proximity to Brazil's agricultural heartland. The deposit is at surface and runs for 100Km (75 miles). A scoping study released recently indicates very robust economics for this deposit.
Initially the thinking was that Amazon had the potential to capture a significant share of the local market for potash and they have been working with Agrifirma, Sekita and others on field trials. While this work is ongoing, they recently announced a patent application for a process to convert verdete slate (their raw material) into traditional KCl products. This opens the door to the possibility of Amazon becoming a competitor in the export market and a substantially larger potential target market.
While these developments are going to take time to unfold (a couple of years to get into production of ThermoPotash), look at what happened with the recent financing announcement. The company had to increase the raise twice within 24 hours to accommodate the demand. From what I can gather, the demand was coming from large players in the sector, including Bunge. I suspect that what we are seeing was the opening salvos in what will culminate in a full-scale bidding war. At least...I hope so.
The company has been steadily executing their plan and has built a management team that has the experience to bring this deposit into production. The company has laid out the road map including field trials and a pilot plant. The field trials are in progress.
Another significant milestone set by the company was the goal to achieve a tax agreement with the Brazilian government. That deal was announced this month and took the stock to a new all-time high as the terms are extremely accommodating to Amazon.
It is not without risk but perhaps worthy of a serious look.