Our research is starting to bear fruit.October is still a couple...

Our research is starting to bear fruit.

October is still a couple of months away, however with Chinese and Indian interest thrown in the mix, public declarations and market interest. I am hoping to see the MAK price supported for the next swing up.

Over in Canada, we have already witness MAK go up 28% from $0.50 to $0.64 close to their 52 week high (note on small volume).

I retain my strong buy position to accumulate on primary support levels varying between $0.35 to $0.45 if MAK do drift backwards in the wait for the JV, MOU. However, recent strength in volumes and media articles in support of a JV is very reassuring. Hopefully we will not see another herd wave selling into primary support levels!! Ouch!!

I would not be surprise to see MAK blast through $1.00 on the news of a JV and funding. In addition, I am in 100% support of management decision to kick out VERTE. Who needs the middle man if you can deal directly with a giant!

All the best to all holders!
o

Note:
April 2011 Morocco Phosphate Rock Price: $182.50/t