From an initial $10m Cr at 7c with no options to an $6m Cr ( $5m...

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Merchant2000

19,279 Posts.

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25/04/24

09:58

Post #: 73508744
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Originally posted by riverflows: ↑

"Offtakers & Financiers circling: MNB has indicated that discussions have begun with potential project financiers and offtake partners, saying it has “received significant inbound interest from major potential funding partners” owing to its unique characteristics."

This was published 11-APR-2023 12:08 P.M by NI, following the technical study from Stamicarbon.

1 year has passed and we are still in advanced discussions with interested parties. Either discussions with those interested parties take forever, or all the previous interested parties have left the party and now we have a brand new set of interested parties.

Also, regarding the financing for the phosphate, MNB also said it was in discussion around 1 year ago with "several parties".
There can be only 2 cases here:
1. IDC was NOT among those several parties: which means all "several parties" fell through, no deal reached, and IDC came to the rescue in around/before September 2023.
2. IDC was among those several parties: which means 1 year from "discussion" to a final financing decision, give or take.
Regardless of which case above happened, I don't know about securing the remaining financing in the next 3 months, when we are now at the stage of just having initiated "discussions" with Angolan insitutions.

So yes, maybe chuk will keep believing in the "almost there" narrative of the company, but not the majority of us, especially not me.

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From an initial $10m Cr at 7c with no options to

an $6m Cr ( $5m excluding directors ) at 7c with options and no Jayson cornerstone investor and has a board seat

Clearly indicates that no one is interested in this project - couldn't even raise $10m plus at 7c with options

Should have raised capital at any price to commence construction - as shareholders are now face higher risks than if dilution path was taken

$6m will be all burnt in 2 quarters or less as costs now have more than likely exploded with overseas trips and advanced discussions and nice renumeration packages

Yes some still believe anything even though they have been 100% incorrect in every single claim - providing false hope and massive losses to many here

Large holders are now trapped - some here to this day still have not seen one concern or red flag - still sugarcoating - astonishing to say the least

Looks like some here -luck with small lifestyle companies -may well and truly be over imo

DYOR imo

Last edited by Merchant2000: 25/04/24

MNB Price at posting: 6.0¢ Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

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