three phosphate properties, page-27

IPL , MAK, and RWD, have led the way in poor market conditions. That's what a boom sector can do.

I think that STB and GCR will be next to take interest as people look for exposure to lower MC plays so they can achieve what the holders of MAK and RWD have, and continue to achieve following IPLs example.

When you only have a handful of plays in a boom sector, the market will turn it's attention to companies in the peripherals, and the greater the run the likes of IPL, MAK, RWD have, justs adds fuel to the altitude which these sidelined companies will ultimately have.

All good, I hold MAK, STB, GCR.

cheers