notice of general meeting, page-12

Based on 10c/km.tone for road, and 4c/km.tone for rail, the transpiration cost from mining site to the port in Darwin is something like:

200km x 0.10 + 1000km x 0.04 = $60/t

I reckon MAK is afraid of disclosing the hefty transportation cost to the market, and waiting for higher and higher phosphate rock price.

Need $100+/tone to get this project moving. Otherwise, it is like a billion tones of dirty.

Maybe MAK should develop the marine phosphate project first. Of course, it will lose the seaborne advantage.

It give me an impression that the company is doing thing in wrong step, trial mining first, and feasibility study late??? Besides, the trial mining is more or less digging some dirty, and shop it to India.

Let's hope sustainable higher phosphate rock price.