"So many advanced discussion which all come to no fruition"
Past cr's have advanced the project and have funded US$16mill or just under half of the total US$40mill capex with large plant components on site ready for assembly. The IDC loan has been approved with standard pre-conditions for just over half the remaing capex. There is only US$10mill of capex and US$10mill of working capital left to fund on a project with an after tax NPV of over A$300mill. Current discussions with Angolan banks are likely to have the same positive outcome as the IDC loan.
"This has had full govt support since 2015-2016 for the benefit of the Angolan people now 10 years on "
Are you showing your ignorance of the project or just trying to mislead?
For most of that 10 years, Minbos was not the manager of the project and under the previous manager the project was aimed at the export market where competition is stronger, margins lower, there was no competitive edge and phosphate rock prices were at multi decade lows. No one could have or would have advanced that project under those conditions.
Under Minbos' management, the project has gone from 100% export of a low margin, bulk volume, raw phosphate rock product for further processing at buyers fertiliser factories to now predominantly local sales of a finished fertiliser with strong margins, ideally suited to the local soils. Minbos has taken this from a dead project under the previous management through DFS, multiple years of extensive field trials, binding MOU with a much larger offtake partner, to now being just one step away from construction.
MNB Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
