the ian middlemas factor, page-21

Brickworks - Treasurehunter is spot on re the Phosphate.

I have pulled some information from a presentation that was given to me by my broker:

In summary - AGR are looking to confirm a JORC resource of 30 - 50mt @ av grade of 10%.
Scoping to develop a plant producing 500ktpa with capex costs of $100 - 150m
Cash costs: - $50 - $60pt
Sale Price: - $250 + pt
NPV based on 30 - 50mt is $250m

Pls have a look at the Santana phosphate project owned by MBAC - it will give you a good understanding of the value of Phosphate projects in Brazil..

Also the second Potash hole is in the final stages - pls have a look at the recent announcement by RVD on the TSX - amazing grades and zone width - as previously mentioned if AGR hits anything like this there will be a re rating in SP.. Let me know if you have any questions - happy to help.

Regards
Valdez