Ann: Minbos to Pursue Yellow Phosphorus Potential in Stage 2, page-37

Hey Spozzie. Nah HongFang was just correcting a post where I had written about the various projects MNB had, and I had said "Ammonia project will take 48 months to build?". HF was just correcting me, it's 32 months to construct GA, not 48 months.

And yea, I agree, the Phosphate project is scheduled to be commissioned and commence production in 8 months and will have the greatest impact on SP in the short term. It's really all about securing offtakes and the 25m USD debt facility to get the phosphate project over the line.

The battery components in the form of 100,000t/pa of phosphate for LiFePO4 batteries, as well as the recent development on Yellow Phosphorus (YP), and further phosphate mineral resources rely on this initial 25m of debt being released to MNB to complete the phosphate plant. That to me says there is a very good chance of the debt being released very soon to ensure completion of the phosphate plant on schedule, because these investors will want to progress onto the next stages/projects in the pipeline as soon as possible.

If these other projects (GA and YP) can be developed in the background and not impact significantly upon the completion of the phosphate project, the SP is really going to take off.