MNB minbos resources limited

Ann: US$10M Subscription Agreement signed with FSDEA, page-4

  1. 4,584 Posts.
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    This is actually better than the original agreement.

    US$10m for 22% of Phobos (which holds the Phosphate project) values 100% at US$45.5m or A$69.4m
    We presently have a MC of around $46m - so a 50% premium on our present value.

    Based on our SOI it works out to the 8c a share originally proposed.
    However it's just for the Phosphate, we keep 100% of the Green Ammonia, P4 and any other projects we decide to embark on.

    I'd expect tranche 1 shortly so they can start construction, the announcement implies construction will start with tranche 1 - no waiting for BAI, IDC etc.

    WE WILL START CONSTRUCTION SHORTLY !!
    Last edited by Red Baron: 14/11/24
 
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