Ann: Minbos Investor Presentation - Angola Rising, page-8

I would love to see an update to the cash flow forecasts and NPV based on those new production forecasts but I don't know if there is any need for it and it should be reasonable to expect at least 50% increase in production over the first 4 years to mean better than 50% increase in profits over those first 4 years. Those forecast increases in the table were labelled "Post Carrinho Sales" implying they only reflect the increased expected sales as a result of the Carrinho sales. I doubt it includes anything for export potential to South Africa.
Those new production forecasts are up to 179,000t pa. The presentation tells us to "Watch for additional licenses and exploration upside.－Watch for low capex option to double capacity."
If they secure export sales and increase production to stage 2 capacity in the first 1 or 2 years, then expect the production forecasts to jump again.
This stock was already deeply undervalued based on the DFS forecasts. This new guidance pushes the valuation well up on that DFS valuation.

I will be surprised if this isn't another major low already set. How long before we go back to 17c and how long to break 21c? Next year seems a reasonably safe bet for both to me.