In the very short term, this US situation is probably holding back Mnb to some extent but beyond the very short term, there are some potential positives too. I heard a bond fund manager say something that made sense. Some money will be pulled out of smaller US banks and deposited into larger US banks., to the benefit of those larger banks. I would think that would then benefit the DJIA and S&P500. Also bond prices took a dive on all of this meaning interest rate expectations are for slower hiking and a lower peak, sooner. That would be of more significant benefit to markets. So it's not all negative for markets. In any case, I am heavily invested here and holding on, largely because of the very low capital requirements of the phosphate project, especially relative to expected earnings. That makes funding this project much easier despite what is happening in the US. The strong ESG credentials certainly help too. Later, the strong expected cash flow and big green credentials of the green ammonia project, as well as its huge competitive advantage, over other green ammonia projects, will also make that project easier to fund. I ended up selling my NRZ last year (in time to make a good profit thankfully) to buy more Mnb because NRZ had astronomically higher capex needs and was a fossil fuel based fertiliser. Mnb seemed a much better choice and it is certainly turning out that way.
MNB Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
