"When would be a better time to buy if not after the end of the...

"When would be a better time to buy if not after the end of the down trend?"

A safer entry would be when IDC loan gets approved. Based on recent sp reactions, I am putting the sp when IDC news materialises around .12-.14. Still good enough as an entry point given that a large portion of the risk gone.

But for those who firmly believe in a IDC loan approval, any time now is a good time.

It is a possibility (not likely but not impossible) that the company will be radio silent from here for another 2-3 months and then come back with some terrible funding news, which will likely see its sp drop back down to 8c or even less. We have seen this happen several times (the radio silence pattern) so I'd say it's still premature to rule this scenario out completely.

Let's not forget that as of now not a single cent has been received so the entire $26m is currently at risk, not just $12m.

Next Investors themselves have also not escaped the pain of delays from MNBthemselves, so they well learned the lesson and haven't forgot to point out the short term risk of funding in their write up.

"For MNB’s phosphate/fertiliser project the short term risk is “Funding risk”.MNB has a relatively small CAPEX funding gap that needs to be filled and so will need to try and secure additional funding to complete construction works and get its project into production.There is a risk that the final funding package takes longer than expected to secure OR isn't secured at all which forces MNB to pivot in its development strategy.Any delays from a funding perspective could impact the time it takes for MNB to get to first production (and revenues) from the project."