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08/09/22
21:14
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Originally posted by Happysummers:
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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 ....
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well lucky is Friday tomorrow and you can sell your shares to all the top 20 holders and myself. but I do appreciate what your doing but it really does not help the company in anyway you pointing out only there flaws. Also I think getting $25 mill cash pre DFS out weighs all of the above and getting 15 mill from the biggest battery producer in the world says abit I think.