$38 mill for wonarah, page-27

The two articles indicate two things:

1. The Indian government want to secure phosphate
2. $38M would be a bargain price


"India is the world's largest phosphate importer and depends on foreign suppliers for meeting 90% of its demand. India's main suppliers are North African countries like Morocco, Egypt and Tunisia with large deposits of rock phosphate.

However, few mines in these countries are up for sale. The fertilizer industry has been demanding government support through sovereign guarantees and special equity vehicles for setting up joint ventures and acquisition of assets overseas in raw material/feedstock-rich countries for urea, phosphates and potassic fertilizers."


Darwin-Singapore is a lot closer than Peru-Singapore. Food for thought. Maybe MCA phosphates are in talks?

$46M for a 30% stake of 540MT @ 18.5%.

Of course we don't know the overburden or local opex in Peru so a a direct comparison is difficult but the raw numbers scream out $38M is too cheap.

Neither do we know if the MCA plant in Singapore would run on Wonarah Rock.