well, dont look back, just look forward.Forget about the bargin...

well, dont look back, just look forward.

Forget about the bargin you missed at 20c. Ask yourself, is it still a bargin, which is why holders top up all the time.

No-one wants to buy with it then retracing under them. IN maks case, retraces have been very limited to 5-10 %.

Work on PE is probably the best indicator of where the stock will be in 2 years at production.

For their no.1 project alone, assume rock phosphate rises 25% in two years, to 250/t??
At 3 mt pa =3x150 profit = 450 profit.

In a booming sector is a pe of 10:1 reasonable? well, they have the option to ramp production so upside will certainly make this figure conservative.

Thats 450x10 =4.5 billion MC as an company pulling is those profits.

Fully dillute MC approx = SP x 100 = 200 mill

(4500/200 = 22.5 times for project 1. IMO) Even if you halve this figure for a PE of 5:1, its still an 11 bagger in 2 years.

so thats the upside with back up projects to add confidence, and support the SP.

The I/O prospect is significant, possibly twice the resource of Grange resources GRR, mc 350 mill, (grange is targeting 1 billion tonnes of magentite with rio as a major share holder)

I actually bought MAK for the nearology to GRR for the I/O prospect.

Plenty of upside. Other projects, read the presentations, all looks good for mine.

The best argument for MAK is that the market has been embracing it over periods where there have been red on all other stocks.

Look at the IPL chart if that helps. Mak would need to build a dap plant before it could be a true peer to IPL, but is the only company in aus with the resource to consider it.

I think it may consolidate here for a week or so, but with good news continuing to support the whole sector, new money will ask the question "where can we invest in a developing junior in AUS with the resources to become a major?"

IMO, yes, buy, but look for intraday low patterns, 5-10% off highs. Then again, todays highs, could be tomorrows lows, so it's your call. DYOR

Hope this helps.