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MNB

4.76%

4.0¢ minbos resources limited

Ann: Final Design Complete for Cabinda Phosphate Fertilizer Plant, page-24

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Tcb007

20,726 Posts.

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31/03/22

12:36

Post #: 60547616
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Originally posted by riverflows ↑

I think it's fair to say now that MNB has been late on the DFS, TWICE.

It's very concerning, given how management casually brushes off the fact that they have been late this second time in the report, merely mentioning that DFS and FID will be available "in the coming months". In some companies, "the coming months" may mean forever.

I do know fertilizer prices are "to the moon", among many other things, but for a small cap, management integrity and keeping promises that they make are as key as what the company sells to the market. If they are late twice on DFS, this casts doubt on their ability to stick to their "estimate" on timelines, which means the date that MNB can actually start producing might be further away from the timeframe that they promised.

I think it's worth starting to take what MNB says with a grain of salt here.

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I would like to think the delay is due to the company exploring near term opportunities to feed into the DFS. We all know prices have surged in recent months - we have a huge deposit & many years ago they looked at exporting. Chuk's post is an interesting one and I'm sure the company has been inundated with inquiries since prices started to really take off.

https://hotcopper.com.au/posts/60487302/single

The most important part for me is that Lindsay is in Angola full time.

Last edited by Tcb007: 31/03/22

MNB Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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