re: phosphate plays Mak is the only asx listed phosphate play I...

re: phosphate plays Mak is the only asx listed phosphate play I would invest in long term. They have a good chance of producing for a couple of years before(if) prices start to fall. The deposit is of a quality that once all infrastructure is in place they should be very competitive even if RP price falls in 3-5 years time. They will have a competitive freight advantage over Morocco. The key will be getting the rail link to Wonarah sorted down the track, once that is in place, very few rock phosphate operations would be able to compete with Wonarah. None(that I have seen) of the RP/DAP operations coming on line over the next 5 years have a RP deposit as good as Wonarah (better grades, existing infrastructure).

I would even have concerns about investing in Legend as imo they have a lot to sort out. If the future out look in for rock phosphate prices to fall projects like Legend will have a hard time raising funds.