Expanding a little more on my post from yesterday.With the...

Expanding a little more on my post from yesterday.

With the initial Trading Halt, the company said:

“...release of an announcement in relation to a capital raising. “

With the Suspension, the company went further and said:

“.. pending the Company finalising the details of its capital raising and the release of an announcement regarding the capital raising. “

They tacked that end bit on for a reason, which fits in perfectly to what @jibbybagger said in his post (refer my last post).

We’ve been suspended 4 days now, it doesn’t take the company 4 days to redo the placement to include this “fertiliser major”. IMO this fertiliser major is looking to strategically invest a fairly large amount into Minbos, possibly a similar sized investment to the syndicate’s investment in 2022 (they took $15m of the $25m placement). The Syndicate’s investment in the last placement was accompanied by a Strategic Cooperation Agreement (SCA) to develop P4 and Green Ammonia including a $25m debt term sheet and a 100kt pa offtake.

Now I’m not saying it’s going to be the same as the above, but with the time taken, IMO there will be some sort of SCA, MOU etc regarding one or more of our projects. As I said I’m thinking tied in with an offtake with these S African customers, who in turn are connected to the IDC providing our loan. Or it could be to do with the GA project, IMO unlikely to be P4 considering the big names in the Syndicate.

This will be the last Capital Raising for Minbos as we’ll be cashflow positive fairly quickly with the Phosphate project. This is the last chance for an entity to buy a decent chunk of shares to be part of our story, possibly even giving them a seat on the Board. Speaking of which, the Syndicate will be well aware of what is going on (they have a Board seat), who knows they may even counter offer.

The suspension is until commencement of trade tomorrow, wonder if they’ll get it sorted by then or if we’ll need to extend the suspension.