There are triple anchors holding the SP down at the moment:1:...

There are triple anchors holding the SP down at the moment:

1: Fertiliser prices and hence RP price in the doldrums

2: Strong Aussie dollar. At US56c to the dollar even a RP price of $US90 makes this look pretty attractive when mining costs are largely in Aussie dollars. With the dollar threatening parity with the US dollar a RP price closer to $150 and above would likely be needed.

3: HUGE Post SPP hangover. Given much of the turnover in a stock like MAK is trading churn I suspect that most of those sell order sitting north of the current SP are hangover and I'll bet there are plenty more sitting on the sidelines waiting to sell into a decent rally. Just the suspicion that there are lots of sellers waiting out there will lead potential buyers to hold out for a lower price.

Sounds strange, but as with Gold - a bit of a retreat in the market (that usually hurts the aussie dollar and hence improves viability) would probably be the best thing for MAK.