minemakers trading at about 2.2c a tonne, page-10

MAK trading at all time lows. Trading under SPP @ $0.43.

$91m Market Cap @ 40.5c. $44m in Cash. 1.8 billion resource of phosphate making them the top 6 in the World by country. Stage one production in 6-7 months time if it goes according to plan. Funding available, environmental studies all set. Negotiations with potential customers in place. i.e. India.

We are so close to production. What a battle it have been for MAK. We have survived the GFC. Good job directors. I see MAK having incredible value, cost a little high, but historical phosphate prices and the ever growing population is likely to ensure the viability of sales contracts and positive cashflows once production is up.

The Investment leaders like George Soros, Jim Rogers seems to have an eye for agriculture. Lack of expansion of farms due to cut back in loans for expansion of output will likely impact supply in the near future. It works in cycles, people will pay with higher food prices.

All the best to all holders

LM