scrip offer for bonaparte diamond mines, page-92

I checked out BON before and they had as of end of December around $3mill. Income from diamond operations has helped but these have now been suspended. Seems maybe that this approach with MAK is one of their few short-term options. If so then picking up BON assets for the equivalent of $8mill isn't a bad deal especially considering diamond mining operations can continue again once prices pick up again.

I agree with some though that it would make more sense to look at buying out BON (for scrip offer) down the track when MAk shareprice is 2-3 times its current price. Would mean much less dilution. The last two events, this BON offer and the recent selling of shares by directors fly in the face of the belief that MAK shareprice will appreciate substantially in the next few months.

Regardless I am still confident of a profitable future for MAK.