Post by
zebra4o1 on Feb 15, 2015 11:42am
Minemakers: a PhosCan mini-me
Sorry if this has already been discussed - haven't been following this board lately. What is it about phosphate companies? Just checked up on Minemakers, and they now look like another Phoscan - but with only $20 million in cash. And of course, their market cap is about $20 million. Their sit- and-wait story is a little bit better then Phoscan. They are waiting while a US company develops an 'enabling technology' that will make their phosphate deposit economic. They have a great deposit - but it is in remote central Australia, so transportation costs are a bit of a problem. Just like Phoscan, their management team is busy evaluating numerous mining opportunities. On another topic: Any chance that Phoscan might invest in Focus Ventures? Focus needs a $3.5 million license payment soon for their Peruvian phosphate project.