Minbos raises $3.4m for Angola phosphate study
JOHANNESBURG (miningweekly.com) – To fund a bankable feasibility study at its 50%-owned Cabinda phosphate project, in Angola, ASX-listed Minbos Resources has entered into a subscription agreement with investment company Green Services Investment to raise $3.4-million, through the placing of 680-million shares at $0.005c apiece.
The placement would be conducted in two tranches, with the first consisting of the issue of 268-million shares, aimed at raising $1.3-million.
The second tranche would comprise 412-million shares, aimed at raising the remaining $2.1-million, as well as the issuing of 385-million options at an exercise price of $0.01, expiring December 30. Including the options, both tranches would raise $7.2-million.
Minbos CEO Lindsay Reed highlighted that the strong support from Green Services was encouraging. “This significant investment underlines the potential value of the Cabinda project,” he added.
With a ten-year mine life, the 391.3-million-ton project was spread across the southern part of the Republic of Congo, the north-western part of Angola and the western part of the Democratic Republic of Congo.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation