Ann: Cabinda Phosphate Fertilizer Project Funding Update, page-150

Good to see a 21% increase in our share price today on good volume albeit thanks to our fellow shareholder Next Investor plug.

Personally, I don't like the repetitive excuse of the construction contractor. Reality is, without all of the finance being secured, nothing is getting built and delays will mean more cash burn.

I'm sorry for harping on about it but even when they did this recent raise with the ridiculous options which contributed to our fall from grace, a similar small offering to retail would have gone a long way to all holders having more trust in management.

Today's piece by Next Investors reiterating MNB is expecting to complete construction and produce by May 2025 is significant. It would be a major miss if it is unable to secure the required funding package.

I can't help but think and hope like many holders that this NI piece was released after discussions and the request of the MNB management. Let's hope it's the Carrinho offtake being announced soon as that is probably the biggest endorsement which would assist in triggering the remaining CP's.

Definitely need imminent news to take advantage of the momentum generated by the NI article.

Fortescue scaling back their Green Hydrogen ambitions should also be a tail wind for our green ammonia potential. He scaled back because of the electricity costs and we have the cheapest electricity in the world. I'm still a little baffled as to why a deal wasn't reached for our green ammonia prospect and also with the Fortescue and OCP partnership this year.

I may seem a little negative in this post but I'm still holding all of my shares and I am just hoping Lindsay is able to repay the faith of many of the Minbos shareholders who have supported the company.

Production in 2025 is just so important.