Ann: Phosphate Fertilizer Project Update, page-119

"Great project, the only ingredients missing are finance and management."

US$16mill of the total capex requirement of US$40mill has already been raised and expensed. That left US$24mill. Of that, the IDC has approved US$14mill. That leaves US$10mill. Angolan banks to fund the small remaining balance and working capital. US$10mill on a project with a NPV in excess of A$300mill is not going to stop this project now. Also around $5-6mill cash in bank.
Agree about the blue sky with expansions and green ammonia. Not sure how much blue sky - have to wait and see what sort of deal is done on the green ammonia but it will add value.

"Chucky you previoudly memtiined high risk rewards those who buy at these levels could see gains to 17cents if there prepared to take high risk rewards. You just dont understand the risk."

Sure I do. I understand the risk and that risk has fallen sharply after the IDC approved the credit and the Angolan banks were given quotas to fill on agricultural loans. Still high rewards but with much less funding risk now.

Come on Carlton, buy a trade again so you can tell us how good the project is again.