The last AGM in May 2023 voted for the company to be able to...

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.