Couldn't agree more Red, I'm with you based on company...

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Andy Buck

240 Posts.

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28/02/24

10:38

Post #: 72638561
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Originally posted by Red Baron: ↑

“This cr and accompanying news while initially volatile and IMO, unpredictable for the very near term sp, allows construction to begin”

and previously from @jibbybagger:

“Apparently a fertiliser major came in late showing interest, but I don't know any more detail than that.”

Looks like we aren’t trading today,
Reading between the lines, it seems we had this placement over subscribed by Thursday afternoon (price too low?), then at the last minute an entity came along and wanted to participate. To redo the placement, you’d assume this entity came in with a good offer and was a strategically important entity. Some here have guessed it’s OCP from Morocco, my money is on the S Africa offtaker.

In any case this delay seems to be a positive development, hopefully at a higher price than the original placement was going to be done at, meaning the lead broker has to go back to all the participants to see if they will accept the higher price and maybe cut them back if Minbos doesn’t want to increase the total amount. A few here including chuk would know much of the detail as the term sheet would need to be updated to include this latest development.

The “accompanying news” will be very interesting, obviously tied to this mystery participant.

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Couldn't agree more Red, I'm with you based on company announcements, presentations, timing, stage of development etc and what has been reported on the threads. While we can't rely on those posts in most cases, I have enough confidence in those posters to believe this will in fact play out similar to your summary above as opposed to the straight CR that we all thought was going to happen.

Last edited by Andy Buck: 28/02/24

MNB Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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