Ann: Cabinda Phosphate Finance and Sales Update, page-787

Thanks Blocker, I have now corrected the post.

The Baron is making so many assumptions, the fact remains Minbos does NOT have a single signed customer for its phosphate, the major offtake agreement with Carrinho also fell through.
Why would Brasil buy from A tiny little company like Minbos that doesn’t even know when its plant will be completed which is already 12 months behind schedule refer to Angola Rising presentation December 2023.
The market is at all time highs and Minbos can’t crack 5.5 cents.
The big worry must be a CR that could be necessary to cover admin and staff costs for a six month period which would require $12mil.
Even at 5.5cents with a 30% discount it would mean a issuance of under 4cents.