All the value here is about building a phosphate business,...

All the value here is about building a phosphate business, rather than one particular catalyst
1) smp - won't produce much profit but will establish Avenira in the market place
2) lmp - allows Avenira to be a medium size rock phosphate producer as well as excess supply for an ihp plant
3) ihp plant Senegal - allows Avenira multiple income streams plus additional value in benefited products
4) ihp plant wonarah - allows Avenira to have diverse income streams and market places across the world

If management can deliver on the above then Avenira would be in an envious position however currently the market doesn't think much of this story.

All the core assets are there it's just about politically, technically and financially bringing it all together.

Progression on ihp is key.