dapper,
I suspected the BFS was going to be delayed. Personally I think MAK are using delaying tactics until the can be more confident of the direction of the phosphate price. To me this indicates currently that the project is marginal.
I have said before, I would rather them wait for the right time. Hasn't panned out as well as possible thus far but that's business. Some things are out of your control. At the time MAK decided to follow the phosphate path, it looked like a good move. Hindsight is of course wonderful thing. Too late now, MAK must stay committed to this. I think phosphate prices will continue to rise.
buy side, page-8
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