Seems hard to believe it could go even higher. I can scarcely...

Seems hard to believe it could go even higher. I can scarcely believe those nice generous-hearted Moroccans have even let it get so high, given their altruistic aim to seemingly put every aspiring RP miner out of business before they even start helping alleviate the world's RP problem!

What I don't quite understand is why Morocco is always quoted as being in effect a price leader when in fact its share of global RP production at 20% is hardly dominant. Maybe they are the biggest supplier of uncommitted product, or are able to increase production slightly and charge what they like for the surplus on in effect the "spot" market?

Whatever price RP eventually reaches one has to allow for eventual retracement to establish a long-run price as the supply matches or even exceeds demand. Just how much and when is the Billion dollar question. In MAK's case the very worst case is probably a mere doubling in share price over the next 2-3 years and at best it's instant retirement for anyone with more than 50,000 or so shares. I like those odds and there is no better advanced phosphate play on the ASX IMO.