Recommendation, page-1002

G'day Chuk and all others, I am and happy to say, a new be to MNB, 5 weeks in and 550,000k shares, being a new be there is a lot more I want to know about MNB, so I have read every present and past posts,

Well done Dalry on buying into MNB and thanks for joining the forum. You have a good entry in terms of pricing and timing. Capital raise is completed with IDC and Sovreign Wealth Fund and debt funding with local bank is well advanced. Conversion of offtake agreement with Carrinho from binding MOU is imminent. Other direct sales to larger farms in the area are very likely and discussion is underway for export of circa 200,000 tpa to Fosco in South Africa when the new port construction is completed.

I recently visited the project and was impressed with the competence and enthusiasm of staff and management. They are ready to build the fairly simple processing plant which is prepaid and on site and then start mining. ESG has been well dealt with and the local community look forward to the project starting. I visited the new deepwater port under construction and it is very sizeable with plenty of storage space for bulk commodities. Fosco and the new port are made to match and this came out of the blue as an add on to potential sales as the original concept was and still is for internal consumption. The government has decreed that where product is produced locally it must be used as opposed to imports. Therefore the market is captive for MNB and in any event extensive growing trials have proven that MNB phosphate is more effective than imported NPK fertilisers.

I could go on but hopefully you will find this summary of interest. Finally I must mention the Green ammonia project which MNB is advancing in Angola where very preferential electricity prices to provide power for Modular Green Ammonia production prevail. A non binding collaboration agreement is in place with Talus Renewables and a toll process is being explored whereby Talus could provide the plant and associated Capital for the project.

The priority is however is to move the phosphate project to production.

I hope this helps.