"Even sovereign fund - Govt is taking on a huge risk"
You clearly don't understand the meaning of huge risk, especially for the government sovereign wealth fund. The government is very keen to grow its agricultural sector. The government has in place a requirement for buyers to buy local when available. That gives Minbos a solid moat. Minbos's project capex and funding requirement is very low by any standards. Minbos's fertiliser will be very competitively priced, is very low cost to produce and offers high margins. Payback of any debt will likely be under two years. Minbos's fertiliser is effective over four years with water soluble fertiliser almost useless after the first season.
Huge risk? And you accuse others of bias? You are more biased than anyone else on HC that I have seen. While most holders acknowledge the risks, I can't recall you acknowledging a single positive - of which there are so many.
