Dicko, any buyer would have to partner with Allamanda, which you...

Dicko, any buyer would have to partner with Allamanda, which you would have to say has not been a good JV partner at all, MNB has been screwed over at every turn

management would want to be 100% sure the Angola licenses are going to be renewed and soon before they sell Kanzi otherwise they may end up with nothing.

I cant believe the company could issue shares at 0.3c if they arent renewed soon, why they did this latest funding deal is beyong me, what happened to the Lind facility? this was on much better terms. CPS Securities must truely have this company by the balls IMO

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Morning Kruiser,

I understand it's been a frustrating time for LTH.

I guess I am looking at things from a different angle as a new holder.

As i said before you can't change the past but looking at the anns in Sept, made it clear to me that MNB was a compelling BUY with BOD looking to derive value for shareholders.

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3rd Sept Ann

“Minbos taking African phosphate to production”

http://www.finnewsnetwork.com.au/Display.aspx?Site=FNN307

Now your comments above..

"management would want to be 100% sure the Angola licenses are going to be renewed and soon before they sell Kanzi otherwise they may end up with nothing."

Do you really think the company would go on record and state they were going to production by 2015 if they thought licences wouldnt be renewed ? Especially after the performance of the sp over the last few years ?

This takes us nicely onto...

27th Sept Ann

As a result, Minbos’ share price has declined steadily to disappointingly low levels and I know our shareholder base has been concerned at this trend.

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So they have gone on record and acknowledged shareholders concern about current sp levels.

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I wish to assure shareholders that a prime focus of the Board during the year has been sourcing suitable funding to meet the immediate needs of our key phosphate projects in Angola and the Democratic Republic of Congo.

The Board is currently structuring a series of financial instruments that we believe will enable us to fund our equity share of our Angolan project as a priority.

I am VERY EXCITED about proceeding with this project, with the goal of taking it into production, which will of course generate cash flow for the Company.

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So again confirming their plan of going into production and commenting "very excited"...

Again would they state this if the licences weren't going to be renewed ?

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27th Sept ann...

Cacata is awaiting the renewal of it Exploitation Permits before proceeding with the bankable feasibility study (BFS). The Government of Angola is processing these under the country’s new mining code, with this process taking longer than initially anticipated. However, the project is well placed and we expect the renewal process to conclude in October 2013 with funding being finalised shortly thereafter and the BFS moving forward.

We look forward to an exciting year ahead.

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"well placed"

"we expect renewal process to conclude in October 2012"

"funding finalised shortly after"

"We look forward to an exciting year ahead."

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Think it's clear the company has it in hand and it's just a case of when.

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Your comments above..

"I cant believe the company could issue shares at 0.3c if they arent renewed soon, why they did this latest funding deal is beyong me, what happened to the Lind facility? this was on much better terms. CPS Securities must truely have this company by the balls IMO"

The date of the funding wasnt announced, the 22nd August stated "shortly"...so if we say end of Aug beginning Sept, this gives us 3 months (December) before the $250k gets converted at the lower sp but looking through all the above they expect it this month

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27th Sept ann ...

Our key focus in the DRC has been negotiating with our joint venture partner Allamanda to restructure the Joint Venture (JV) in a way that is more amenable to external funding and to transfer the exploration licences into the JV company, Phosphalux SPRL. While these discussions are ongoing, I can report that we have made substantial progress on the project.

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"While these discussions are ongoing, I can report that we have made substantial progress on the project."

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Now this bit got me intrigued after we had the 30th Sept ann a few days later.. telling us they were to divest this asset..

So substantial progress has been made with the JV partner... hmmm that would require a lot of talking and negotiating..

so the question is ... why, then a few days later MNB announce they have given JV partner first refusal on the project..

MNB must have discussed this prior to the ann announcement.. to which the company has again gone on record stating they are looking to find value from this asset..

27th Sept ann

We recently announced a resource upgrade to JORC Indicated status of 58.5Mt at 14.2% P2O5. We have completed a first stage logistics study that has concluded that barging and trans-shipping our product on the Congo River is a possibility and further detailed studies would be the next step. We have also completed a preliminary environmental review that would accompany the scoping study in a Mining Licence application once the licences are transferred.
The Board is continually reviewing its options to derive value from this project.

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"The Board is continually reviewing its options to derive value from this project."

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Then.....bang...

30th Sept Ann

MINBOS TO DIVEST IT SASSETS IN THE DEMOCRATIC REPUBLIC OF
CONGO(“DRC”)

Minbos Resources Limited (“Minbos” or “Company”)(ASX:MNB) will focus on the development of its outstanding Angolan phosphate assets after announcing its intention to divest its assets in the DRC.

Minbos has taken the first steps in the sale process,serving First Right of Refusal on its joint venture(“JV”) partner Allamanda Trading Ltd, asset out in the articles of the JV company Phosphalux SPRL.

Allamanda has until 1 October 2013 to respond to Minbos as to whether it wishes to exercise its right on the terms offered by Minbos.

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Ann announcement on the 30th Sept giving our JV partner a day to decide if they want first refusal on the asset ?

Are you kidding me ???

1 day ??

As stated earlier...discussions must have been in place for sometime IMO..