cash-backing equal to market cap, page-25

Am surprised at how little effect the sale of Sandpiper has had on MAK's SP. You can only assume that there is very little confidence left in the story.

Going to need to clearly outline their strategy for Wonarah and it will have to be believable given the quarterly costs shareholders will be expected to shoulder, nearly $3mill just on admin!!

Treading water gobbling up wages is what shareholders will not want to see. This time round, a lion's share of existing financial reserves must be spent to continue progressing Wonarah or else the market will continue to steer clear.

Positive lurking is unrest in the Middle East phosphate producing nations because of a lomming grain supply crunch in the 2nd quarter of 2013.

Waiting for an entry based on the board's next moves ...