Ann: UCL: Namibian Phosphate Project - Resource U, page-6

re: Ann: UCL: Namibian Phosphate Project - Re... It wouldn't cause the JV to fail, because the project requires capital, and MAK will be able to raise it (or earn it) faster and more quickly than either of the other two.

Getting the project going is the most important thing that counts for UCL or BON, so one should not lose sight of that. If the terms are fair and the price is right, then everyone will be happy. Correct pricing is what happens in a competitive situation, which is what we seem to have here.