MNB - MINBOS RESOURCES LIMITED

[melua]

Down to 2c. What went wrong?

[NPH]

Disgraceful. Peter Richards should hang his head in shame for letting this happen on his watch.

[NPH]

He underwrote the late 2011 rights issue to the tune of $200 000 at 28c. An investment now worth just $14 000

 

Before that he spent close to 50k buying on market in the 30-40 cent region. Ouch

[melua]

Some shareholders would have lost more than that. Chump change to him.

Is there any hope for the stock? Your figures looked compelling.

[NPH]

Monument Mining is buying CEN for 18 million

 

The Angolan projects are superior to CEN's assets.

 

MNB's share of the Angolan projects is 50%.

 

Then there's Kanzi in DRC, whatever the outcome there is.

 

But what happened to the strategic partner process?

 

The assets are some of the best in the junior phosphate sector, but issues in the DRC and management of the company so far has decimated shareholder faith.

[NPH]

Peter Richards bailed. Disgraceful.

[melua]

What happened to this? Haven't been following after I was told to give it a wide berth a long time ago.

[nipper]

and , eight years on.... still plugging away at phosphate; seem to have narrowed it down to Angola

Quote

Minbos Resources Limited (MNB) is an exploration and development company with a world class phosphate ore project within the Cabinda Province of Angola

The Company focus during the Quarter continued to be developing a nutrient supply and distribution business that stimulates agricultural production and promotes food security in Angola and the broader Congo Basin.
HIGHLIGHTS
Cabinda Phosphate Project  
• The Company delivered an updated JORC 2012 compliant Mineral Resource Report for the Cabinda Phosphate Project with a total Measured, Indicated and Inferred Mineral Resource of 8.4 million tonnes at 29.6% P205.
• Mine optimisation and mine design work is well advanced with an Ore Reserve estimate for the Cácata deposit expected in the first Quarter of 2022.
• HCV Africa and Grupos Simples have completed the EISA and EIA reports for both the Cácata Mine and Futila Granulation plant which are now being translated for submission.    
Capanda Green Ammonia Project  
• The Company submitted a Letter of Intent (LOI) to the Angolan Ministries of Agriculture and Fisheries, Energy and Water and Mineral Resources and Petroleum outlining a proposal to develop a Nitrogen fertilizer facility using Green Ammonia produced from hydroelectric power from the Capanda Hydroelectric Dam.
• The Ministry of Agriculture and Fisheries has confirmed to Minbos its intention to grant the Company the land necessary for establishing a Green Ammonia and Nitrogen fertilizer facility from the Capanda Hydroelectric Dam within 10km of the Capanda Hydroelectric substation.
Corporate  
• Minbos raised $6.0 million through a strongly supported Placement to new and existing sophisticated and professional investors.

........................

some pertinent comment (perhaps)

plugging away

[nipper]

July 2022  ... A material equity raising (including a significant cornerstone investment) and strategic cooperation agreement.

A two tranche placement, the first $14.45 million under the company’s existing placement capacity and priced at 11¢ a share with room for $5 million in oversubscriptions.

Potential investors were told Minbos had locked in $15 million of cornerstone commitments. Of this, the term sheet said, $10.5 million was from an entity controlled by the chairman of Shanghai Putailai New Energy, the world’s largest battery anode producer.

Minbos planned to use $17 million of the placement for its Cabinda phosphate project, while $2 million would go towards working capital and $1 million towards green ammonia technical and market assessment studies.

In tandem with the share placement, Minbos said it had executed a non-binding term sheet for a US$25 million debt facility with Long March Capital to cover the remaining capital costs of the Cabinda phosphate project.

[nipper]

from a news sheet: Wise Owl email:

On Friday we provided an update on what is fast becoming one of our favourite companies ; Minbos Resources (ASX:MNB).

We originally Invested in MNB for their phosphate (fertiliser) project, not knowing the world would be facing a global food crisis just 2 years later with phosphate prices now at record highs.

It also turns out that lithium iron phosphate batteries now make up 44% of the electric vehicles market in China and nearly half of all Teslas made last quarter had phosphate in their batteries.

MNB has started building its phosphate mine, and the development funding question mark that had been weighing on the share price has almost been fully removed after MNB recently announced a significant financing deal.

The founder and chairman of the world’s biggest battery anode company was the largest investor in this deal.

Also: from Next Investors

It’s phosphate ; and MNB has a lot of it

MNB has rapidly evolved over the last six months now riding not one, but THREE of our favourite long term macro investment themes