Yes pretty ugly at present, across all markets. So long as NMDC continue forward, buy into the project (which buy-in price shouldn't have anything to do with SP) & secure debt funding for Wonarah, then we still get to build a fert plant together in the NT over the next 2-3yrs. Latest profercy reports is forecasting DAP $680-690/t FOB in the near-term. That would support a rock price north of $200/t FOB. They also report India is about to run out of DAP and they're going into a high demand period & its at the same time China's 110% export tax kicks back in. Hopefully grain prices can hold onto most of their price strength to keep farm economics positive & supportive of fert application for increasing yields to capatalise on strong returns.
Good luck to all.
Cheers
Yes pretty ugly at present, across all markets. So long as NMDC...
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