Over the years I've been involved with quite a few "African" companies listed on the asx, nearly always the so called African risk makes the funding too expensive.
Having said that, we'll have good cash flow, there are other options such as pre-selling the product.
In any case they have said they have partners lined up from the explosives side, so the possibility of going it alone may be a moot point.
On the P4 side, it sounds to me like they are just trying to get a piece of the action rather than just sell the phosphate. Our Chinese investor has very deep pockets and I wouldn't at all be surprised to see this project fast tracked. I think for a small company like Minbos, even a 33% share would be massively rewarding and take most of the risk away.
MNB Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
