I guess it's something you don't want to guess wrong. Being such...

I guess it's something you don't want to guess wrong.

Being such a important commodity for sustaining life its best not to rely on companies reserve estimates, and just make sure there is plenty of the stuff, imo. Some estimates suggest peak Phosphate could be reached in 50 to 70 years. It's highly probable, imo, many projects may not see the light of day due to prohibitive infrastucture limitations or isolation. It's about how much around the world is economically viable and that's something they just can't guess.

It was around the time that Peak Phosphate was thought to be be 50-100 years, I think, in 2007 prices went to above $400 tonne, highlighting the sensitive nature that can surround the commodity. It now seems to have found some support at around $100. Any more reports highlighting any possible shortages, imo, could cause another rally. It's probably a good thing RUM is getting the ball rolling at this time than coming into producer stage, imo.