MNB

1.61%

6.1¢ minbos resources limited

Great work chuk, sincerely. All the things you mention would...

First 313 Last

Share
Profile

Follow
ferncol

2,302 Posts.

381

31/05/23

21:31

Post #: 68066738
Share

Originally posted by chuk: ↑

I didn't attend but I spoke to Lindsay tonight after the AGM over the phone. Unfortunately there was nothing concrete to update us with just yet but he was happy to discuss anything that had previously been announced.
Regarding start of production; construction has been delayed beyond what they expected even though there have been some minor preliminary earthworks. However, he did say he is not expecting the delay of the start of construction to affect the timing of production by any significant amount. Inauguration is still planned on 11th of November.
He also confirmed what was previously announced is still the case with regard to funding. They continue to expect to raise the balance as non equity funding. The amount previously announced was US$30mill. Still not expecting to need a cr. He said they don't want to put out an update with what has already been announced and they will make an announcement as soon as things that they are working on get locked in. So while we would like more regular updates, I guess they want something concrete to announce before doing so. If they do otherwise, they get called fluff announcements anyway.
I also asked if there had been any further cost escalations as I had wondered if that might have been a reason for the delays in the start of construction. He said there have been no changes to capital requirements since the US$10mill reduction in capex.
So while I was preparing myself for perhaps a small to moderate cr that wouldn't be too dilutive, it looks unlikely.
I also was allowing for a 1-3 month delay to production and that looks over-cautious as well. Basically whatever the market thinks it's pricing in is probably well overdone. Once everything is announced, the market should be heading back into the high teens and then beyond because nothing has actually changed other than a delay to construction which isn't expected to affect the start of production with any significant delay.
While it's been hard to get hold of Lindsay lately, I would expect anyone at the AGM that managed to talk to Lindsay asking what I asked would have got the same answers.

Expand

Great work chuk, sincerely. All the things you mention would have been co concrete enough to come from the horses mouth weeks ago to steady the farm.

MNB Price at posting: 9.7¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

RHK

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

ASX Market Open: ASX200 to rise for Friday session | July 26

MND

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

HRZ

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

MIN

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

TRP

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

NVA

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

IGO

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Nine's staff strike as Paris Olympic coverage begins

There are more pages in this discussion • 56 more messages in this thread...

First 313 Last

Add MNB (ASX) to my watchlist

(20min delay)
Last 6.1¢		Change -0.001(1.61%)		Mkt cap ! $53.59M

Open	High	Low	Value	Volume
6.3¢	6.3¢	6.0¢	$52.48K	863.4K

Buyers (Bids)

No.	Vol.	Price($)
4	564815	6.1¢

Sellers (Offers)

Price($)	Vol.	No.
6.3¢	451681	3

View Market Depth

No.	Vol.	Price($)
4	564815	0.061
2	102964	0.060
2	48475	0.059
1	12000	0.058
4	139331	0.057

Price($)	Vol.	No.
0.063	451681	3
0.065	8719	1
0.066	200390	1
0.069	257400	4
0.070	239286	2

Last trade - 13.01pm 26/07/2024 (20 minute delay)

MNB (ASX) Chart

Great work chuk, sincerely. All the things you mention would...

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

ASX Market Open: ASX200 to rise for Friday session | July 26

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Nine's staff strike as Paris Olympic coverage begins

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Great work chuk, sincerely. All the things you mention would...

Top Stories

Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

ASX Market Open: ASX200 to rise for Friday session | July 26

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

Horizon firms up ore reserve for Boorara ahead of FY25 Q1 development decision

MinRes jumps 5% as the company meets production guidance – depressed iron ore prices be damned

Tissue Repairs soars nearly 32% on TGA approval for wound healing gel

Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

IGO kicks off earn-in copper drilling on-site Encounter's Yeneena play as it adopts new identity

Capital raisings wrap: Brainchip, Ovanti, Lake and VHM

Nine's staff strike as Paris Olympic coverage begins

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News