Argonaut client note released, page-4

Finally, starting to get some recognition and media space!

In ********* email this morning. *.com

MinBos Resources Limited (ASX: MNB)

Hart’s final pick in the fertiliser space is Minbos Resources who have a phosphate deposit in western Angola.

The Cácata phosphate resource currently stands at 6.9Mt at 30% P₂O_5.

The company plans to mine Phosphate Rock from the Cácata Deposit and transport it to Porto de Caio where a granulation plant will be built and operated at the industrial site to produce Enhanced Phosphate Rock (EPR) granules.

On the 10th of March 2022, the company announce that DFS design had been completed on the Cabinda Phosphate Fertiliser Plant, which has been designed with an initial production capacity of 150,000tpa with the capability to expand up to 450,000tpa.

Based on current estimates, commissioning is expected in H1 2023.

“The new plant has access to stable and cheap grid and hydro power, water, gas & diesel and is close to the Ports of Caio and Cabinda for regional shipping,” Hart says.

“The company has received governmental support and can supply local African markets with ammonia based fertilisers.

“First sales are expected in 2023. Russia currently supplies 80% of the world’s ammonia, so a local manufacturer with a plant that can produce a variety of fertilisers suited to African conditions should be well received.

“With a market capitalisation of $86.7m and tight conditions in both the fertiliser combined with cheap power inputs, Minbos Resources is poised to enter the market at a good time.