Ann: Offtake Agreement with Angola's Largest Food Aggregator, page-104

I find it frustrating we have to self source information about what the company is doing - eg the AgFood presentation where we learnt about Carrinho, or @phw1712 ’s post where we saw the interview saying the opening ceremony is Nov 11th, but 1st production early next year with product not really needed till the planting season in Oct 2024. The last official release re timing of the phosphate plant was buried in the Annual Report dated 31st March, giving Q4 2023.

Even the last offtake announcement left us short. What the market wanted to know is how you are going to finance this project - but we are non the wiser unless you join a few dots.

Despite the above, Lindsay does like giving hints such as the Deutche bank facility @PrivateRob posted.

I’ve pasted further information on this below and the link.

Just as Lindsay basically told us who the offtake would be with at the AgFood presentation, he has now put this dot point into the announcement which at first glance seems insignificant, but as PrivateRob pointed out is possibly very significant.

Read the excerpt below - my bolding.

"This transaction is the first Individual Loan Agreement (ILA) finalised under the Framework Export Credit Agreement (FA) signed in May 2019 between Deutsche Bank, BDA and Angola’s Ministry of Finance (MoF) to fund private investment projects in the country. The credit line, arranged by the bank’s Structured Trade & Export Finance (STEF) team for the Government of Angola, aims to finance agriculture, agri-industry, fishing and general industries with the aim to guarantee a greater supply of goods, services and employment, creating new opportunities for the population."

https://country.db.com/news/detail/20230412-deutsche-bank-and-sace-support-local-food-production-in-angola?language_id=1#:~:text=April%2012%2C%202023-,Deutsche%20Bank%20and%20SACE%20support%20local%20food%20production%20in%20Angola,in%20the%20Republic%20of%20Angola.