Ann: Continuation of suspension, page-37

The last AGM in May 2023 voted for the company to be able to raise up to 25%, instead of 15%.

Wouldn't surprise me if they issue the full 25%.

Slight rounding on these number:

197,000,000 (25%) @ 7c is $13.79 million AUD.
197,000,000 @ 7.5c is $14.75 million.
197,000,000 @ 8c is $15.76million.

It's going to be significant dilution no matter at what price, or the amount of shares issued. But If it brings in a partner, gets the phosphate plant built on time, then so be it. Advancing the GA project (commence PFS) soon would be a big plus too.

I can handle the dilution if it means +20c SP by the end of year.

Ideally in 12-18 months time I'd love to see decent profit rolling in from Phosphate sales, and pour those $$ into advancing the GA project.

Say if MNB is profiting a modest $25million/year by calendar year 2025 or 2026, that should open the door to being able to get a decent sized loan to pay for a share of the GA project via debt? Profit could be higher or lower than $25mill.

Numbers purely hypothetical, but if sales/revenue/profit are good into 2025, could be a strong position to access a decent amount of debt to get the GA project built, whilst retaining a large share of the GA project.

That's why I'm here anyway, if things fall the right way I hope to see something like this scenario playing out.

Not financial advice, DYOR, just speculating on how I hope to see things play out.