Of course you spoke to him . These were his words ? "( The only...

Of course you spoke to him . These were his words ?

"( The only reason for the wording in the presentation was to cover there arse because while that was being made the election was happening and they were in sure of how long it was going to take for word to come back from the offical. Now that it has all been sorted he did not seem to have a doubt he said worst case scenario is 1-2 weeks. We have heard all that before before with regards to delays ")

This is just a little snippet of how we are being strung along . I dare you to go back Since MNBS asx inception and than let us know if these patterns have not been repeated time and time again.

MARCH 2021 QUARTER PLANNED ACTIVITIES
Cabinda Phosphate Project Definitive Feasibility Study
• The Definitive Feasibility Study for the Cabinda Phosphate Project is nearing completion,
with several outstanding items concluded and the final report being compiled.

12
th April 2022
ASX Announcement

Definitive Feasibility Study
The granulation flow sheet was designed to be flexible allowing for different products and
formulations to be produced. An external review of the flowsheet by the IFDC concluded that the
current plant is capable of producing beneficiated phosphate rock-based products with minor
modifications. The mass and energy balances can be simply calculated and will verified in a pilot
plant trial scheduled in early June." Where is the plant trial update" ?

Updating the DFS requires updating the production flowsheet which can be repurposed to switch
from granulation to Phosphate Rock beneficiation campaigns with relatively minor changes (see
appendix 1).

The engineering calculations will be completed in the coming weeks and will be confirmed in the
next pilot trial scheduled for the second week of June at the IFDC Headquarters. This trial will
produce 7 tonnes of product for agronomic demonstration trials in Angola later this year.
The engineering component of the revised DFS can be completed in approximately 3 months -
and the Company will provide an update on the market component after technical discussions
with new potential customers ( Meaning Capital raise ). Meanwhile, the Company will continue to build its Phosphate Plant
through its EPCM contractors.


Commenting on updating the DFS, CEO Lindsay Reed:

“It has been a remarkable few weeks and months for Minbos with seemingly unlimited new
business opportunities presenting themselves ,. What is clear however is that the local appetite for
our Phosphate is both real and large.
Given the Company was completing a DFS which produced a fertilizer blend of MAP and
Phosphate Rock, we have taken the decision to widen the scope of the DFS to include both
blended fertilizer and beneficiated phosphate rock.
The Company is confident it can achieve similar returns, reduce working capital requirements,
reduce customer outlays and possibly accelerate the timetable to full plant utilisation – all without
delaying the plant commissioning . Plant commissioning ? As far as i know we have not even been informed if early works or construction have actually started . Have not seen any progress reports . Any further updates regarding long lead items and scheduled delivery of said items ?

And has anyone heard about the FNT signing off on the (MOU ) pricing for the electricity ? That has also been delayed . Lindsay informed us shareholders that it was no major delay and it was just a few minor changes and that it "should "be finalised in a couple of weeks . This was nearly 3 months ago . The silence is deafening !

I realise Africa time is very different to what we are accustomed to , but . There is Africa time and than there is Lindsay Reeds Africa time ....