"I personally don't know why people reply to downrampers. I am...

"I personally don't know why people reply to downrampers. I am happy with my investments, i never reply to them! "

That's easier to do when they are not doing everything they can to discredit you with lies and out of context quotes!

I'm very comfortable here too. The relentless downramping - mostly from just one poster clearly suggests an agenda. Whether it's trying to buy lower or just venting due to previous big losses from buying high and selling low, who knows - however the arguments are weak and mainly based on advice to sell because others are selling. That argument certainly doesn't bother me and many posters who have stated that they have put him on ignore have shown they see no credibility in those posts.
There have been delays to past milestones but those milestones were reached regardless so delays have not meant increased risk to reaching those milestones. I expect the same for the funding. Completion of funding was expected before now but from the time the DD started on the IDC loan (3 months ago), that process (IDC says ideally 3-5 months) is no where near delayed yet so no negative opinions can be drawn on that loan process to date.
This company has managed to previously raise more than half of the required capital and working capital requirements to take this project from scoping study through DFS and permitting to pre-construction stage. The site is secured and major long lead plant components are paid for and already delivered to site.
Of the total approx US$53 mill capex plus probably well over another $10mill spent to date on plant components and working capital, only $26mill incuding working capital remains and more than half of that is now likely to be drawn from the IDC leaving only around $12mill remaining to source. The company has shown the ability to raise at least US$40mill to date - including the IDC loan.
With cash in the bank for working capital and only US$12mill left to fund a project with a DFS after tax NPV of US$202mill, I can't see any logic to claims that funding is high risk because the mc is $60mill. There is no logic to that argument. If the company had to raise a billion dollars or more, or even hundreds of millions, I could agree - but not US$26 mill and certainly not US$12mill.
This is not a product at risk from competitors. Effectiveness is similar to TSP fertiliser but at a fraction of the cost. Angola has no fertiliser production but desperately needs it. Carrinho has made a massive capital investment and is depending on Minbos' fertiliser to supply farmers to help fill its food processing facilities needs.
I think we are very likely to see finance concluded in coming months, hopefully weeks and production some time this year, hopefully near mid year but anytime this year will justify a much higher mc than $60mill on a project with an after tax NPV of A$307mill if cash flow begins in less than 12 months.
This is now very undervalued this close to production and the recent sell off plus shorter time to construction and production, makes this a much better buy now than it was at anytime over the last couple of years.
2024 is set to be a great year for many small caps after a horrible year for many and while MNB didn't crash 90-95% like some others because the funding and commodity price risks are much lower, the upside after this year's correction is still going to be very large assuming production begins this year.