Ann: Minbos to Pursue Yellow Phosphorus Potential in Stage 2, page-38

We are well overdue for an update on the progress of the phosphate project. As good as the GA and YP projects sound, as others have menioned it is the near term development of the phoshate that is important.

And with the options conversion due date fast approaching, I'm guessing this announcement is imminent. We won't hear anything about funding just yet, surely that won't happen until they have counted the money from option conversions to determine how much funding is still required - that's my logic anyway.

All we really need is some photos showing the progress, and confirmation from Lindsay that all is on track etc, the market will love that ensuring as many options as possible are converted.

The most recent announcements re phosphate were:
23/02/2023 - Significant CAPEX reduction for Phospahte Fertilizer Plant, and before that
19/01/2023 - Cabinda Phosphate Fertilizer Plant Enroute to Angola

We know from our well researched poster's that the ships have arrived at port etc, but how about the company confirming all this and getting the market excited that all is still on track. After all, this will be the cash cow that ultimately funds the future projects (GA, YP and/or any others), but at the moment we are only hearing this from Chuk's awesome posts with regular reminders about upcoming yearly cash flows from the project.

C'mon team, give the market what it really needs and send some photos of the commissioning, and more importantly a nicely worded "management comment" confirming all is on track timing wise, with off take and funding talks well advanced etc (or feel free to announce the offtake agreement frist / at the same time ).