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MINBOS RESOURCES LIMITED (MNB)

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ASX, Legal & CGT Status

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Our website ranking of MNB: rating 3
(3 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000MNB9
Address: Unit 5, 254 Rokeby Road, Subiaco WA 6008
Tel:  +61 8 6219 7171Fax: +61(0) 8 6270 4614

Date first listed: 18/10/2010

Sector: Materials Industry Group: XMJ
Activities: Phosphate Exploration

News & Events

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The suspension of trading in the securities of Minbos Resources Limited will be lifted immediately following the release by MNB of an announcement regarding the details of a capital raising.

15/04/2024

Minbos has received credit committee approval from the IDC for a US$14 million (~AU$21.5 million) debt facility, on usual commercial terms (Appendix A). The Company has received firm commitments for an AU$6.1 million capital raising with strong support from new and existing sophisticated and institutional investors (Appendix B). Key components of the phosphate fertilizer plant are already in Cabinda. The factory site is cleared, fenced and ready for construction. The Company expects Phase 1 construction works (earthworks, civils and drainage) to commence within two weeks of executing the Phase 1 construction contract with the preferred contractor. The Company is planning all project activities to ensure the major phosphate customer has the majority of its fertilizer requirements for the 2025/26 growing season and in their warehouse by the end of December 2025. To achieve this sales target, construction must start no later than July 2024 to facilitate first production in Q2 2025. The Company's securities have been in suspension while it completed the IDC debt approval process and an associated capital raising.

15/04/2024

The company releases a notice of proposed issue of securities .

15/04/2024

The Company continues to work on finalising the capital raising and therefore will continue the existing suspension until this work is complete. The Company now expects that it will be able to announce to ASX the results of the capital raising on or before Monday, 15 April 2024.

08/04/2024

The Company continues to work on finalising the capital raising and therefore will continue the existing suspension until this work is complete. The Company now expects that it will be able to announce to ASX the results of the capital raising on or before Monday, 15 April 2024.

08/04/2024

The company lodges its Annual Report to Shareholders.

28/03/2024

The Company has since continued its suspension with the expectation it would recommence trading prior to market open on Monday, 25 March 2024. At this stage, the Company continues to work on finalising the capital raising and therefore will continue the existing suspension until this work is complete. The Company now expects that it will be able to announce to ASX the results of the capital raising on or before Monday, 8 April 2024.

25/03/2024

At this stage, the Company continues to work on finalising the capital raising and therefore will continue the existing suspension until this work is complete. The Company now expects that it will be able to announce to ASX the results of the capital raising on or before Monday, 25 March 2024.

14/03/2024

The Company has continued its existing suspension and now expects that it will be able to announce to ASX the results of the capital raising on or before Thursday, 14 March 2024.

08/03/2024

The Company has continued its existing suspension and now expects that it will be able to announce to ASX the results of the capital raising on or before Friday, 8 March 2024.

01/03/2024

The securities of Minbos Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MNB, pending the release of an announcement regarding the details of a capital raising

26/02/2024

The suspension of trading in the securities of Minbos Resources Limited will be lifted immediately following the release by MNB of an announcement regarding an Offtake Agreement.

19/07/2023

MOU represents a significant milestone, the first offtake for Cabinda Phosphate Rock signed with Angola's largest and most influential agro-industrial group. Fertilizer supply agreement for up to 869,000 tonnes of Cabinda Phosphate Rock over the first 7 years of production (to 2030), representing 66% of stage-1 production over the corresponding period. The MOU includes a proposed pricing mechanism, pegging the relative agronomic effect of Cabinda Phosphate Rock fertilizer to the price of Triple Super Phosphate. The pricing mechanism is in line with the assumptions used in the Definitive Feasibility Study. Carrinho has a 1Mtpa. grain and oil processing facility in Benguela, fed by a network of silos in the Huambo and Huila Provinces. It is backed by a Sovereign Guarantee to support the development of the Benguela Facility and providing smallholder farmers with fertilizer and training, enabling them to supply grain and oil seed to the facility. The MOU provides for Minbos to supply Cabinda Phosphate Rock to Carrhino's Benguela facility, through the Port of Lobito, beginning in the 2023/2024 growing season. Other key components of the agreement include a technical collaboration with Carrinho and Minbos to optimise the use of the Cabinda Phosphate Rock, including sharing field trial results, involvement in future trials and cfor demonstrations with small and large-scale commercial farmers. The MOU is subject to successful Carrinho-Instituto de Investigação Agronómica (IIA)-Minbos field trials to affirm the suitability of the Cabinda Phosphate Rock as a fertilizer. Minbos does not consider this to be a material risk given that it has already demonstrated the suitability and efficacy of Cabinda Phosphate Rock as a fertilizer in the Minbos-IIA field trials. In April 2023, Carrinho and Deutsche Bank closed a 10-year/€57 million lending facility to support the building of a 4,000 tonne per day fully automated soybean and sunflower crushing plant. The Board of Minbos recently toured the Carrinho facility in Benguela, one of the most complete industrial parks in the world with 17 factories processing rice, wheat, corn and refined oil to produce more than 20 consumer goods.

19/07/2023

The securities of Minbos Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MNB, pending the release of an announcement regarding an Offtake Agreement.

18/07/2023

we understand that on or about this date the company consolidated its shares 1 for 20

19/11/2020

The suspension of trading in the securities of Minbos Resources Limited will be lifted immediately following the release by MNB of an announcement regarding the Cacata Phosphate Concession.

18/03/2020

The Angolan Ministry of Mineral Resources and Petroleum has advised the Company that its tender submission for the Cácata Phosphate Concession, located in the Province of Cabinda, has been classified as 1st (or Successful). The Cácata deposit is located 50km from Porto de Caio, along sealed roads to the newly completed deep-water port, close to existing gas and electricity supplies. In the coming months, the Company will announce its plans for the project including timetables, scope, offtake, approvals and funding. At the opening of the tenders in December, MIREMPET indicated it was targeting the end of February to notify successful bidders, the end of May to negotiate and finalise Mining Investment Contracts with successful bidders, with a view to signing the Mining Investment Contracts in June upon which the mineral rights are formally granted. Under the terms of the tender, it is anticipated that Minbos will be granted the equivalent of an exploration licence over the project area. The work commitments on the exploration licence will be negotiated with the Angolan Ministry of Mines during the next few months and prior to execution of the Mining Investment Contracts.

18/03/2020

The securities of Minbos Resources Limited will be suspended from quotation immediately under Listing Rule 17.3. The securities will remain suspended pending the release of an announcement regarding the tender for the Cabinda Phosphate Project.

16/03/2020

The suspension of trading in the securities of Minbos Resources Limited will be lifted immediately following the release of an announcement regarding the Cabinda Project and the withdrawal of the merger proposal with Petril Phosphates Limited. Security Code: MNB

02/09/2015

Minbos Resources Ltd (Minbos or the Company) advises that merger discussions with joint venture (JV) partner Petril Phosphates Ltd (Petril) have been discontinued as the parties could not come to a mutually satisfactory outcome on certain key terms. The principal terms requiring agreement were the escrow conditions for existing and incoming shareholdersMinbos Resources Ltd (Minbos or the Company) advises that merger discussions with joint venture (JV) partner Petril Phosphates Ltd (Petril) have been discontinued as the parties could not come to a mutually satisfactory outcome on certain key terms. The principal terms requiring agreement were the escrow conditions for existing and incoming shareholders. The negotiations on the merger were complicated by the difficulties of combining a public listed and private company and the different cultures, both in terms of the needs of the various stakeholders but also the different business culture and approach.

02/09/2015

The securities of Minbos Resources Limited (the "Company") will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement in relation to the merger with its joint venture partner, Petril Phosphates Limited. Security Code: MNB

25/08/2015

Deferred settlement trading of the proposed shares (MNBN) and proposed quoted options (MNBO) of Minbos Resources Limited (the "Company") offered under the Company's prospectus dated 10 January 2014 will be suspended from quotation immediately, due to the Company not proceeding with the renounceable pro rata offer. Security Code: MNBN MNBO

17/02/2014

The suspension of trading in the securities of Minbos Resources Limited (the "Company") will be lifted immediately following receipt of an announcement by the Company regarding a capital raising. Security Code: MBN

13/11/2012

securities suspended pending an announcement

09/11/2012

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    28/05/2020Peter Wall50,000,000$0.001$50,000
    23/02/2016Peter Wall10,000,000$0.004$40,048

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Paul McKenzieNon Exec Chairman07/12/2020
    Lindsay ReedManaging Director, CEO01/09/2014
    Steve AbbottCOO02/06/2023
    Blair SnowballCFO15/06/2021
    Frank SiNon Exec Director15/12/2023
    Valentine ChitaluDirector07/12/2020
    Graeme RobertsonDirector07/12/2020
    Ashley LimCompany Secretary

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Peter WallNon Exec Chairman21/02/201415/12/2023
    Dganit BaldarDirector18/03/201615/12/2023
    Nick DayCFO04/10/201715/06/2021
    Bill OliverNon Exec Director02/09/201309/12/2020
    Damian BlackNon Exec Director21/02/201430/11/2020
    Domingoes CatuluchiNon Exec Director20/07/201001/10/2018
    David SadgroveCFO03/05/201704/10/2017
    Stef WeberCFO10/11/201403/05/2017
    Scott SullivanManaging Director, Executive Chairman02/11/201221/02/2014
    David ReevesNon Exec Director20/07/201021/02/2014
    James CarterCFO02/11/201202/09/2013
    Peter RichardsNon Exec Chairman16/06/201006/08/2013
    John CiganekNon Exec Director16/06/201019/03/2013
    Faldi IsmailNon Exec Director17/12/200901/01/2012

    Date of first appointment, title may have changed.