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2.38%

4.3¢ minbos resources limited

Ann: US$14m Loan Facility Approved & Firm Bids for Placement, page-574

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DavoMagic

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24/04/24

17:00

Post #: 73502439
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Originally posted by riverflows: ↑

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.

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It almost reads like an excuse.

Worrying about capital and yet has anything been constructed so is there a capability problem?? If nothing happens some would be non-the wiser would they??

Just speculating but the plot thickens and it looks like some are batting down the hatches rather than exposing what they can do

MNB Price at posting: 6.0¢ Sentiment: None Disclosure: Held
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