Ann: US$14m Loan Facility Approved & Firm Bids for Placement, page-280

I still have faith in this business, but one thing bothers me. Given the investment Group Carrinho have made in a huge new processing facility & and the govt mandate that fertiliser must be sourced locally; why has a binding off-take agreement not been signed? I would think that Carrinho is co-dependent with Minbos. I feel as though some parties are willing this to fail so they can scavenge the carcass. Hopefully the Angola banking sector will act on govt encouragement and support the project. For such a worthy project with great economics, it's proving unbelievably hard to finance!