Ann: Quarterly Cashflow Report , page-20

No I don't hold MAK but do watch them closely. The main reason I haven't bought them before is that I don't rate most of the projects they hold. In fact their phosphate is their only asset I'm interested in and think the rest are a distraction to them rather than a virtue. Now that they have floated off the tin assets MAK becomes more interesting to me, if it looks like they will be able to get a Direct Shipping Operation going from Wonarah within say 12 or so months then I will probably buy some.