MNB

1.67%

6.1¢ minbos resources limited

Ann: Continuation of suspension, page-14

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rolley02

243 Posts.

142

02/03/24

08:59

Post #: 72708186
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Originally posted by chuk: ↑

While the stock is in suspension, contrary to what some might think, that doesn't delay the project. Capital raising funds for the originally planned amount were due during the week that just ended so most of it will have already been banked during the week.
While the company had previously completed some site work, the company now has the cash that it needed to begin the more significant construction work. With the suspension possibly lasting another week, it's quite possible that when the suspension is lifted, the company will not only will reveal the details of the cr together with the reason for the suspension but they might also be able to add news about construction work.
The cr has already given the company the bridging finance that it needed ahead of the IDC loan settlement to avoid further delays.
Some holders might sell when the suspension is lifted, thinking that the sp might pull back towards the cr price. That might have been a reasonably safe bet to take if we weren't expecting more news to closely follow the cr. The more good news that is released with the cr, the better for the sp. I'm hoping to see construction news in the mix - either regarding work already in progress or work that is about to start.
While some anticipated the cr and kept the sp from increasing more quickly, the reason for the suspension is likely to be a positive left field event that catches the market off guard. How the sp might react to that is going to be interesting to say the least.
Following the resumption of trade, we should be expecting news on the IDC loan and we should see regular updates on construction progress. That would help support the sp in the short term but more importantly, progress and no further significant delays will be very important to the sp for the rest of this year.
I know that Lindsay has been working very hard to resolve the outstanding funding needs and get this project into construction. Most of that work on funding is now done. I have very little doubt that he will keep working hard to get this project into construction in the third quarter this calendar year. With major plant components on site waiting to be assembled, It's only a six month construction process and that will go quickly.

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Sounds positive. Can I ask, when was the last time that you spoke to the company and / or the broker running the CR?

MNB Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
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Last 6.1¢		Change 0.001(1.67%)		Mkt cap ! $53.59M

Open	High	Low	Value	Volume
6.2¢	6.3¢	6.0¢	$97.62K	1.591M

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No.	Vol.	Price($)
3	130000	6.0¢

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Price($)	Vol.	No.
6.3¢	70027	1

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No.	Vol.	Price($)
3	130000	0.060
2	82729	0.059
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1	10526	0.057
7	128940	0.055

Price($)	Vol.	No.
0.063	70027	1
0.064	181029	1
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0.066	160000	2
0.067	20000	1

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Ann: Continuation of suspension, page-14

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