Minbos Resources (ASX:MNB) - CEO, Lindsay Reed
CEO, Lindsay Reed
Source: Minbos Resources
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Minbos Resources (MNB) ends the week in a trading halt while it plans the details of an upcoming capital raising
  • The company will remain in the halt until December 14 or when more details are released, whichever occurs first
  • On November 23, Minbos announced an upgrade to the mineral resource estimate for the Cabinda Phosphate Project in Angola
  • The updated MRE reads 8.4 million tonnes at 29.6 per cent phosphorus pentoxide and MNB now plans to release an ore reserve in Q1 2022
  • Shares in Minbos last traded at 13.5 cents on December 9

Minbos Resources (MNB) has ended the week in a trading halt while it plans the details of an upcoming capital raising.

The company will remain in the halt until December 14 or when more details are released, whichever occurs first.

Minbos is yet to disclose how much it intends to raise or what it will use the funds for once received.

On November 23, Minbos announced an upgrade to the mineral resource estimate (MRE) for the Cabinda Phosphate Project in Angola.

The updated MRE is JORC 2012 compliant and reads 8.4 million tonnes at 29.6 per cent phosphorus pentoxide.

Minbos now plans to mine phosphate rock from the Cácata deposit before focusing on Porto de Caio, where a granulation plant will be built to produce enhanced phosphate rock granules.

Minbos will use the updated MRE for open-pit mine optimisation, design and economic analysis to generate an ore reserve for release in Q1 2022.

Shares in Minbos last traded at 13.5 cents on December 9. The company has a $62.86 million market cap.

MNB by the numbers
More From The Market Herald

" Carnaby Resources (ASX:CNB) ends week in a trading halt

Carnaby Resources (ASX:CNB) enters a trading halt as it plans an upcoming capital raise.

" Askari Metals (ASX:AS2) plans to raise capital for lithium purchase

Askari Metals (AS2) has entered a trading halt as it plans an upcoming capital raise.
Telix Pharmaceuticals (ASX:TLX) - CEO, Christian Behrenbruch

" Telix Pharmaceuticals (ASX:TLX) planning capital raise

Telix Pharmaceuticals (ASX:TLX) enters a trading halt while it plans an upcoming capital raise.
Alice Queen (ASX:AQX) - Managing Director, Andrew Buxton

" Alice Queen (ASX:AQX) halts trade ahead of fresh capital

Mineral exploration company Alice Queen (ASX:AQX) has entered a trading halt ahead of a proposed capital…