The world has changed a lot since the MAK deposit was found by RIO (20 years ago?).
For one thing, we have climate change and all the uncertainty that involves. However one other thing has also changed - the population of the world is now 20% higher than back then (if not more), so we had either get 20% more agricultural productivity or someone will have to go without.
On that last point, crops by their nature suck the nutrients out of soil, so those nutrients must be replaced if future crops are to be a) as productive and/or b) to grow at all. Of course, fertilizer is one method to replenish soils, so the only question over MAK's value is whether or not MAK management can get started ASAP. I must say though that it does look, from recent announcements, that MAK management are aware they need to move quickly - and I believe most investors share this view, as reflected in the MAK sp.
All IMHO of course...
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