Ann: UCL: Sandpiper Phosphate Resource Upgrade , page-13

re: Ann: UCL: Sandpiper Phosphate Resource Up... seals, i think both your and yellowcake posts have some points but both have things i don't agree with. maybe find a middle ground.

rio left wonarah when rp prices were %30/t. a lot has changed since then. you are showing significant basis regarding being negative about wonarah. both project have their adavantage/disadvantages. and both would be economic at much lower rp prices than current. wonarah just needs a rail link. and yellowcake simply just doesn't like sandpiper and probably is not fully bought back into to mak.