g)Additional requirements for capital The Company must have sufficient capital to fund the construction of a phosphate fertilizer plant for its Cabinda Phosphate Project, as well as to fund the feasibilitystudies for its Capanda Green Ammonia Project, alongwith other working capital requirements. At the reporting date,it has cash and cash equivalents of approximately $4.6M. Any additional equity financing will dilute shareholdings, and additional debt financing, if available, may involve restrictions on financing and operating activities.
If the Company is unable to obtain additional financing as needed, it may be required to reduce the scope of its operations and scale back its development programmes as the case may be. There is no guarantee that the Company will be able to secure any additional funding or be able to secure funding on terms favourable to the Company.
Page 18 of the 2023 annual report issued last month.
MNB Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
