the how of marine phosphate mining

For those needing an understanding of how mining of marine phosphate, off Namibian coast, would be achieved, I thought the following article my be of some help.

http://news.smh.com.au/business/phosphate-sea-mining-simple-bonaparte-20080905-4al7.html

Having digested all posts today regarding the Scrip Offer, I'm of the view that this is a sound strategic move by MAK.

One or two posters have suggested that this sort of move should have waited until the MAK sp was in the $2 or $3 mark, when dilution would not have as big an impact.

Well, the issue with that line of thinking is that the reason why the MAK sp would by of that order is because of increased world demand for RP. And..........with increased world demand, OTHER RP players(Mosaic, OCP, etc. etc....) would ALSO be interested in acquiring productive tenements.

Much better, IMO, for MAK to be making this move now, knowing that the world economies are on the improve, as indicated by the Baltic Dry Index (go here: http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND ),
than waiting till later when they would surely be competing with others to get their hands on this resource.


Cheers to all.