Minbos Resources: Commencement of BFS for the Cabinda Phosphate Project
Interview with CEO, Lindsay Reed, to discuss: Minbos strategy for 2016; Details of the $3.4m placement; Highlight the key targets of the BFS; Update on the port development near the Project; Update on the Phosphate market; and Update on Angola. Analyst Comment:Whilst the start of work was slower than we originally anticipated due to previous financial constraints, the recent $3.4m placement means that Minbos can hit the ground running, with initial results of the BFS due to be released later this year. We also note that the placement was at a 150% premium, which was a terrific result and highlights the significant value that the new shareholder saw in the project, as premium placements are rare at the best of times, but in the current environment are unheard of. We believe given the high grade (DSO potential) and infrastructure that already surrounds the project, Minbos has potentially one of the best undeveloped phosphate projects globally today.
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