Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Message: Project approved ?

They are doing everything they can to get this IPO done. I hope Phosphate King is right and the October 26 date holds. I think that David Slager's involvement is our best hope, given Gutnick's abysmal track record. He owns 28% of the company, more than Gutnick controls, and he has a history of activism in his investments. He also has a whole lot of money, which can come in handy for this money sucking enterprise. The upside is enormous if the mine can actually get into production, assuming that phosphate and DAP prices hold up, which they have been doing. If phosphate goes up a lot like it did in 2008 on global shortage fears (quite possible IMHO) then this will be a home run, but the company has to get into production first so that it can start generating revenue and stay alive. Survival is the big question mark, but a successful Paradise IPO will give the company a new lease on life, at least for a year or two.

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