Ann: Cabinda Phosphate Finance and Sales Update, page-885

July 2023 - offtake MOU

Commenting on the MOU, CEO LindsdayReed: “It’s hard to underestimate how important this offtake agreement is forMinbosand our plans to be Angola’s largest supplier of fertilizer. Angola is undergoing a fundamental economic overhaul as the Government seeks to diversify its economy away from Oil and Gas and has agriculture firmly in its sights, with boosting crop yields inextricably linked to food security. ThisisaprouddayfortheCompanyaswebeginour developmentandproduction journey. To have so much of our initial production spoken for by one major partner, allows us to plan for new stages and wider customer engagement.

We look forward to working in partnership with the Carrinho group and the Angolan Government to ensure that our Cabinda Phosphate Rock fertilizer is applied where it can help. .We share their vision and commitmenttoAngola to contribute tothefoodandnutritionalself-sufficiencyof all Angolan people. Asthe marketinAngola continuestodevelop,welookforwardtogrowingourbusinesswith groups like Carrinho with the knowledge that Angola’s agricultural market is in its infancy and,as ourfertilizer liftsyieldsfor smallholder farmers,theirappetiteforourproductwill continueto grow.”

How many bought in on this along with $25m cornerstone Loan MOU and Angola Rising late 2023 - production 2024



Obtaining sales agreements is not an easy feat and todays news proves this imo

Hence the need to read disclaimers

and now SWF secured 22% of resource and MNB still has no sales agreements and or funding confirmed


@chuk

You were told many times to tone the ramping down