Technically speaking, MBC's chart looked good because of the huge volume breakout about two months ago. Last week's breakout of the pennant was less encouraging because it lacked volume and indeed it failed to hold-on to new highs. Looks like it needs more time to set up a move.
MBAC is focused on core objectives including the exploration of potential deposits, generating cash flow, preserving capital, maximizing cash balances and maintaining maximum flexibility across its various interests, including its development stage and near development stage projects. MBAC is committed to prudent and disciplined growth and will continue to improve the value and returns of its various projects. It will also continue to focus on controlling costs and ensuring effective management of capital expenditures.
MBAC is well positioned financially to fund its strategic growth plan where expansions, improvements and development of existing assets are expected to drive production toward MBAC’s objective to produce approximately 540,000 tonnes per year of SSP during the second half of 2012.
A vital and indisputable link exists between phosphate rock and world food supply. Phosphate rock is the source of phosphorus used to make phosphatic fertilizers, essential for growing the food needed by humans in the world today and in the future. We modeled the depletion of the known reserves and reserve base (which includes reserves) of phosphate rock based on various scenarios for increasing population and future demand for phosphate. Using these scenarios, the presently known reserves will be depleted within about 50 years.
-- James R. Herring and Richard J. Fantel, in Natural Resources Research (1993) |
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