Have you compared the share price performance of Minbos with the majority of small cap companies on the ASX since 2021? Apart from a few that have had big discoveries or positive events, many are near all time lows.
Don't get me wrong, I'm not impressed and still seething about the recent "spitting in shareholders' face" cap raise. Management over promising and under delivering has many loyal shareholders and the market weary. Aside from that , the company has been trying to co-ordinate a complex sequence of events that has proven difficult for this management's skill set. Carrinho offtake agreement has proven elusive and is hurting us big time.
In my opinion, the government's interest in this project is the endorsement that will see this happen without too much more dilution.
No doubt, many risks still remain, and that's why our market cap is sitting where it is. Begin construction and I'm confident that we will see a big re-rate.
As for your claim about record cash burn, at least throw in an IMO because that is definitely not fact.
Here's hoping for some big news next week.
MNB Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
