Spot on Steven,I bought this one for a quick in and out based on...

Spot on Steven,

I bought this one for a quick in and out based on the phosphate hype and jumped off this AM.

Yes there may be phosphate on their ground but is it near surface? Is it of sufficient grade? How much of it is there? And like you say - why didn't RIO peg it?

Its quite simple to me - if you like the phosphate story buy MAK. They are many YEARS ahead of MNM with a proven high grade resource pretty much ready to run.

MNM is a good story and will go places on the coal alone. The phosphate may prove to be a nice bonus down the track but many years from now.