"Together with showing evidence of a $10mill working capital facility and signing the binding offtake agreement with Carrinho, Minbos needs a further US$7mill (after raising $A$6mill in this cr) to raise, as its preconditions to draw on the IDC loan."
So obtaining a further AUD$11m and confirming the Carrinho agreement - both within the next nine weeks?
Realistically, do you think this is sufficient time to navigate the process of securing an Angolan bank loan? (considering the company has only just initiated this process). And if not, what is the plausible alternative? (considering any future placement would presumably be priced at sub-5c)
MNB Price at posting:
6.4¢ Sentiment: Hold Disclosure: Held
(20min delay)