recording of confernece, page-36

sm,

i agree.

is it correct to say that $400/tonne of phosphate is for 32%.

if so, then if mak decide to go the dso path at say 20% (average) they will receive $250/tonne.

surely it wont cost more than $150/tonne (capex/opex) for benification.

so it would be advantages for people to not consider dso as the preferred option because the additional capex and opex required to get to 32% will be returned in spades thanks to the extra $150/tonne received for the product.

dso may be ok in order to get an early start to production and cashflow but it certainly isn't a longer term option if phosphate prices remain robust over the long term.

maybe i am wrong but im sure someone will correct me.

cheers