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Ann: Phosphate Fertilizer Project Update, page-372

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chuk

14,368 Posts.

4173

13/06/24

10:27

Post #: 74292912
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Originally posted by chuk: ↑

"Its quite simple - without funding this is history"

There's a useful piece of information. What project anywhere in the world wouldn't be history without funding?

It's a good thing the project has already COMPLETED $16mill of the total $40mill capex and has already received credit approval for a further $14mill from the IDC. After raising A$6mill in a cr recently, that leaves very little to fund on capex and the company plans on a working capital facility of $15mill through a local bank to fund the project through to revenues mid next year.
US$40mill capex was already a relatively very small amount to fund for a project with an after tax NPV of over A$300mill. Nearly half has been funded and spent already and very little remains to be sourced.

Simple, yes. A very It just takes longer than we would like like all previous completed milestones have.

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That last line should have been; "It just takes longer than we would like - just like all previous completed milestones have."

MNB Price at posting: 5.7¢ Sentiment: Buy Disclosure: Held
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