It may the case that Wonarah is economic (on paper) but until...

It may the case that Wonarah is economic (on paper) but until they have an off-take agreement - the project will be mothballed. I expect that the annoucement will indicate as much. The key words will be 'conserving cash' and focus on the other projects (you know, the ones that have been quiet for years but are now the potential 'company makers'...). Maybe they are finally figuring out that people aren't buying the 'mining in 2010' line anymore!

I hold MAK because if they don't waste too much money over the next few years and can stay afloat, then Wonarah will be very valuable as fertiliser demand increases dramatically in 3+ years.

I'd be happy to hear off-take agreement in the annoucement, but I think that is a very slim possiblity.

Cheers all, and don't get too discouraged by what I think is inevitable in this announcement...