Hi openminded,Some thoughts for you, which are by no means...

Hi openminded,

Some thoughts for you, which are by no means exhaustive & no particular order:

1. MAK is highly leveraged against increases in DAP & RP prices, which have been gaining pace & still have a way to go IMO. Particularly if Nth African/Middle Eastern unrest escalates and delivers a significant supply shock to the market.

2. Favourable & IMO realistic NPV of $1.82 in report prepared by Intersuisse. Refer report: http://www.minemakers.com.au/downloads/110113Minemakers-Intersuisse.pdf

3. Massive high grade deposit at Wonarah presenting decades worth of high quality feedstock for MAK's planned DAP, phos acid & fert production facilities onsite & in Darwin which is near cheap & reliable supply of N thru NT gas. Resource upgrades anticipated as Wonarah deposit is open to the north, south, east & west of known deposit.

4. Logictics issue of Wonarah to be overcome by value-adding combined with rail spur from mine site to TC to greatly reduce freight cost, particularly relative to extra income generated thru selling higher valued product. Significant cost reductions & efficiency gains. All this starts to become a reality once equity & debt funding is secured for this ramped up plans.

5. Imminent ann re strategic Chinese investors/partners which will deliver funding requirements for greater plans. New partners will also most likely deliver the ongoing purchaser(s) for our various finished products. IMO the dilution is more than offset by the significant value-add and certainty it brings.

6. JDCPhosphate Dry Kiln technology agreement delivers sole rights for Aust & poss Namibia to MAK, as well as a strategic interest in JDC itself, which could turn wet-acid process on its head price-wise & environmentally. Testing has so far been positive and most suitable to our NT & Namibian resources which both have high silica (sand) content which is needed for this process.

7. EIS & subsequent approvals all in place in NT & shouldn't be a problem in Namibia.

8. CLC to sign Mining Agreement 24/25 Feb in scheduled signing ceremony. refer to Qtrly Report:
http://www.minemakers.com.au/downloads/MAK2010DecemberQuarterlyActivitiesReport.pdf

9. Additional upside thru other tenaments; tin, tungsten, fluorspar etc in Tassie involving a de-merger & listing of TNT incl IPO during this year, plus salt target in NT, IO in SW WA, and a poss 39% equity position in BCD if BCD mtg on 14/2 goes as planned.

I have been a LT holder of MAK & seen the SP lows of 19c after Rudd ann'd the RSPT and have never lost faith in their various projects. The head-winds have been significant thru the GFC & resultant destruction of fert demand/application of 2009, but as you can see that has done a full turn-around & everyone wants in on the fert-story. BHP tries to buy Potash Corp and fails & will get to & roll out Jansen. RIO is now talking fert-sector. These big guys see the potential & want in.

With the global food crisis of 2008 back with a vengance and stoking civil unrest in developing nations, everyone is beginning to again take notice again of the ag-sector incl fert sector.

IMO MAK is extremely well positioned to take of advantage of all this thru becoming, with Chinese assistance, a global fertiliser company with multiple & well-placed production & distribution centres.

As always DYOR

Cheers