Minbos has claimed they have syndicates of investors, interested parties, have approached numerous banks etc however nothing happens. If the project was that good they would not need African cash, something is seriously wrong if they can’t get adequate funding. The Chinese pulled out, now it’s maybe an alternative co-investor that will complete the fairytale. They have dug themselves into a hole that they are struggling to get out it’s panic time promised so much to shareholders and now they have to accept heavy dilution or go bust.
MNB Price at posting:
6.7¢ Sentiment: None Disclosure: Not Held
