If we had just gone ahead with the $10m raise at 7c (no option)...

If we had just gone ahead with the $10m raise at 7c (no option) we wouldn’t be at 6 cents, the sophs might sell us down to 7 cents but not the present 6 cents. These last minute offers for the GA and Phosphate projects couldn’t have come at a worse time. I don’t believe in coincidences and think they were just pulling our chain, knowing full well a long suspension would weaken our ability to get the original $10m raised. With $10m (US$6.5m) we’d only be short US$3.5m for capex, a working capital facility would not be too hard to organise. Then of course 7 weeks after raising the $10m we’d get the IDC approval (with the CPs) - it would have been welcomed by the market and we’d probably now be above 7c.

Were they just pulling our chain, or was this all orchestrated? Or was it just a pure coincidence at least 2 parties approach us wanting to partner in GA & the phosphate project just as we were closing off the over subscribed placement.

As Chuk said, sentiment is as low as I’ve seen it, could these trolls I’ve had on ignore be part of an orchestrated effort to make Minbos a cheap takeover target or possibly accept a lesser deal. It would certainly not be the first time social media is used to help a party achieve their desired outcome by spreading misinformation, it is almost the norm these days. I just took them off ignore & had a quick look at a few of the posts. They are very professional IMO the chances of them being paid to do this are very high.

Minbos’ investor base is mostly small holders, it doesn’t take too much negativity to affect the share price, unlike larger companies with institutional investors like ASX100 stocks.

I just hope Lindsay doesn’t accept a below par equity partnership proposal.