ridiculed v dammed, page-29

What I have seen with other $1 plus stocks that become penny dreadfuls is they often downgrade the resource reserve or grading estimates or sometimes even discover there is nothing in the ground to mine at all.

Also what regularly happens is by the time they become penny dreadfuls is they are forced to raise capital just to survive or pay down debts at all time lows causing massive dilution from which the share price can never recover.

MAK does not have these problems we have cash and our rock phosphate has not gone anywhere. Management is in a position to mop up a large chunk of cheap stock putting long term holders in a superior position should the IHP demo plant sort out the issues holding up production. The opportunity is here now to turn this negative into a positive for all MAK investors.

I think the market got extra worried by talk of looking at other ventures while we wait for conformation on IHP.

I see the opportunity sitting here in front of us now trading below cash backing, go in boots and all and initiate the buy back and show some confidence in what we have all invested in imo.