I think this complexity is why the market hasn't assigned a value to this project yet. If left alone, MNB 100% wouldn't be able to pull it off (the current phosphate project is significantly simpler and it already took us this long with numerous delays and changes in plans).
When it becomes significantly more concrete and feasible (via PFS, DFS, and securing reputable partner for funding/production/operation/etc.), the market will take it more seriously. Hopefully that will be announced soon, from what Lindsay wrote earlier.
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- Ann: Minbos Signs EPCM Contract for Cabinda Phosphate Project
Ann: Minbos Signs EPCM Contract for Cabinda Phosphate Project, page-89
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