daytrades jan 14 afternoon, page-39

MNB worth keeping an eye on. Targeting phosphate in Angola/DRC. Company was set to receive first round of drill results this week and spend a week or so processing them and then release them to market. They will also be calculating JORC compliant figures for each deposit as they drill them out. Their targets have been previously drilled(45000 metres) and will be open pittable. As well they are finding extensions along strike and at depth.

Tightly held company and board includes Peter Richards who was CEO of Dyno Nobel until recent takeover.

Project is located 30 km from port with road access. Historical metallurgical testwork produced a concentrate of 34-36%P2O5.

Transport costs are around US$5 a tonne.