Ann: Capanda Green Ammonia Project Update, page-80

You probably should have told us to get a room - but I'm glad you didn't go that far!

This project only has a capex requirement of around US$50 million. That is a very big advantage in this market compared to the more typical resource project capex requirements in the hundreds of millions and even billions of dollars (e.g. NRZ).
What's more is that half of that US$50mill has already been sourced and expended with major plant components delivered on site and only half of that capex remaining to be sourced. Of that remaining US$26mill, the company has found a lender, the IDC for US$14mill.
I.e. remaining capex of US$12mill - yes plus working capital. Compare that to others that need hundreds of millions or even billions of dollars. What you have is a very positive situation but we have one very persistent poster trying to paint that very positive picture as a negative. If this is a negative, I would never invest in another company, listed or unlisted. Of course, that is not the case.
Even the fact that MNB has sourced the US$14 mill is now painted as a negative by one poster because MNB would be supposedly at the "mercy" of the lender. The IDC is a credible government lender aiming to encourage investment, not rip any one off. Terms offered are quite favourable. Would that poster prefer a cr for that US$14mill? What exactly would that poster think would be a positive development? Maybe he would prefer to buy a company that is fully funded, fully constructed and producing and not having any significant upside left in the sp. Cash in the bank would work too.

Considering the first year's production is likely to generate around $50mill net profit on my numbers and probably much more using the DFS numbers adjusted for upgraded guidance and that the project has an after tax and base case NPV of over A$310mill (before the upgraded guidance) versus the US$12mill remaining capex (plus working capital) and an offtake customer signed to take the majority of production, there is a lot to like about the likelihood of closing the finance. These things can take longer than anyone would like but that doesn't change the likelihood of success.