Redcorduroy,I like your analysis. End of August seems...

Redcorduroy,

I like your analysis. End of August seems reasonable.

From an email from AD, I know that he wants to get an idea of the blends of phosphate grade that will be possible from the various deposits that make up Arawurra and Wonarah. The data they have now and in the pipeline will establish this, and from that point they will be able to make a definite product offering to prospective customers. The new marketing guy from NZ is on this now, and is meeting with an enthusiastic response from his contacts.

It is the defined product offering that will put MAK in the optimum position to raise cash. I am inferring from this there will be some offtake component (not sure what proportion of overall), but the critical thing is that this point will be achieved soon - i.e. in the next couple of months I believe.