rp trading at 1.60 per tonne.

MAK has 100M tonnes of high grade RP...give or take.
MAK has 100M shares fully diluted......give or take.

Equals 1 tonne of RP per share...give or take.

So buy a tonne of $400 RP for $1.60....buy 1 share in MAK!!

PS Hope title of thread didn't cause any heart attacks!

No...RP hasn't dropped to 160 per tonne if that's what some thought I meant!

It's risen from $200 1st quarter 08, to $400 2nd quarter 08, just in case anyone needs reminding.

Current profit margin on your 1 tonne of RP for $1.60 is $300.....give or take.

Look forward to MAK digging MY tonnes up and selling for $300= profit.

Mak trading at gross forward P/E (before taxes/royalties etc...but AFTER costs of $100 per tonne) of 0.2....that's 1/5th of 1 for anyone mathematically challenged.

At a P/E of 1....(producers generally trade at P/E's of between 10 and 40...depending on how quickly market expects they can exand production etc).....Mak should increase by a factor of 5x...or $7.50 a share.

At a P/E of 10....which is still low for a rapidly expanding Co.....Mak price target would be $75.

Take minimal dilution into account ($30M estimated Capex)and you still have a target of $50+ based on "in the bank" profit after taxes etc.....at a conservative P/E of 10.

Big question is will RP remain at high prices?....YT's research suggests it will, as do a lot of others....even Buffett is recommending the Ag sector.

Prices expected to be well supported for at least next 2 seasons (years) at which time, all going well....
ak will be a producer.

DYOR....I'm obviously excited about Mak's prospects...so please correct any calculations errors if you find them.