Ann: Audio Broadcast , page-9

Having out of MAK for a couple of years (except a quick trade early this year), I have the advantage of not falling in love with it.

Why AD made such high risk move on a troubled gold mine? The logic might lie in the flagship phosphate project in NT is not a viable project right now. At $120/t operational cost, the project is marginal profitable at the best. Even at $150/t phosphate rock price, it is still comparable to iron ore business. Bulk commodity, but with much smaller market. Have you ever heard of a iron ore company with operational cost at $120/t yet? Or a company has to transport its iorn ore over 1000 km rail, and 200 km road?

AD knows that MAK has to wait, waiting for $400/t phosphate. Could it happen? Who knows? The only problem is that it has happended before. Usually it is tough to happen again.

While waiting, why not play a few hands in Casino? This is how he venture into BCD trap.

Well, back to Namibia Ocean bed phosphate rock project. I don't know if the technology is there, or not. Have you guys know any company has dig it out of ocean? How about the environmental impact? Would any government approval such mining methods?

It is my weekend thoughts. Feel free to critize.