Sponge, absorb and accumulate pattern, page-57

There is no off-take agreement coming soon. If you think there is then you may as well sell up now. A lot of this price action I believe is due to unrealistic expectations.

Mencel released an announcement outlining his strategy, and its to develop the resource as much as possible. Makes total sense to me. Resource plays who are in it for the long haul exercise this strategy all the time.

He has only been in office for 2 months. Whilst he is familiarising himself, the price of rock phosphate continues to climb very quickly.