Ann: Cabinda Phosphate Finance and Sales Update, page-768

As usual, the two downrampers are spamming the thread with posts that take the focus away from both the recent update and how the sp is responding.

"Sales interest for Cabinda Phosphate fertilizer continues to increase following the commitment of funds by the Angolan Sovereign Wealth Fund1, the commencement of Phase 1 construction by Arliz2 and the revised term sheet from Banco BAI.3
• Firm interest has been received for both export and domestic sales commencing next year and extending for three years. Domestic interest includes distributors and food aggregators"

"The Company has consulted with IDC and Banco BAI throughout the sales process and both institutions have expressed support for the quality of customers, broad customer base and inclusion of both domestic and export markets."

"Fundo de Garantia de Crédito (“FGC”), has indicated it will provide Banco BAI with a credit guarantee for the facility at additional cost to the borrower of 2% interest. Banco BAI will now invite FGC to participate in the loan facility negotiations that are currently underway, as both will be signing parties to the loan agreement."

"International Development Corporation (“IDC”) US$14 Million Debt Facility Targeting first drawdown by July 2025, subject to final Conditions Precedent being completed, further updates include:
• Angolan Sovereign Wealth Fund US$10 million equity subscription has satisfied the Condition Precedent for an equity investment.
• Once signed, the Banco BAI Facility will satisfy the term loan facility Condition Precedent.
• The offtake Condition Precedent is currently being updated by the IDC in line with the Company’s sales and marketing strategy to diversify away from a single customer strategy to a broad base of export and domestic sales, with the 120,000ktpa expected to be satisfied from a mix of export markets and domestic distributors and food aggregators."

Sp since the update has climbed from 3.7c to 5.3c currently. Up 43% but still only a market cap of $51mill versus a DFS, after tax NPV to Minbos of around A$300mill at current TSP prices, leaving a very big ( 6X ) upside potential to positive funding news.