agree champ,its called investing yeah?That means looking forward...

agree champ,

its called investing yeah?

That means looking forward to where we'll be when it counts, what the demands for fert, and rp will be in 12m.

An offtake with some funding arrangement would be ideal.

Plenty of asian buyers probably not wanting to be held to ransom, next time morocco decide to control the prices north.

Demand,,,,has there been a 47% demand destruction? And to what short term effect? in that, you dont fertilise this year, you have to make up for it next year.

Unless we have seen a 47% fall in demand, and no one could possibly say that even if we have, that it is sustainable, that with the rest of the world at full production capacity, someone, who hasn't bought from the rest of the worlds limit supply, must, MUST buy from morocco, and pay their price.

Investing, thats about buying cheap stock, that will be re-rated by the development progress.

Phils and nevs arguments, if to suggest of a fatal flaw, to run for the hills, on fear of RP collapse.

And that is a valid POV, and up to each person to decide, what direction they beleive the long term sustainable rp levels will be, to determin fatal flaw or not.

I will add though, looking over the BON t/o document, that MAK has a number of second projects that justify its current MC.

several hundred million tonnes of i/o, monia flourite, being the leading two.

I think from memory, there was something like 50/t profit on the flourite, sound right??

We arent a one trick pony, and the acquasition of BON, will provide an even cheaper OPEX play.

There are many positives, in holding mak.

Good luck with their decisions, and welcome them back if their perspective changes.

Very easy with the human emotion to see things from different angles, and arrive at a differnt decission.


cheers