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Minbos Resources Limited (ASX:MNB)

ALERT: Price-sensitive ASX Announcement for MNB
Current share price for MNB : $0.029 0.014 (93.33%)+
Announcement
Release
27 May 2026 9:18AM
Price at Release
$0.015
Full Release
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Summary
Minbos Resources Limited has signed the final security agreement under its US$16 million loan facility with the Industrial Development Corporation of South Africa Limited (IDC) in Luanda, Angola. This marks a significant milestone for the company and allows for the submission of the first drawdown request, which amounts to 30% of the facility, approximately US$4.8 million. These funds will be directed towards the final invoice payment for Phase 1 civil construction and mobilisation costs for Phase 2 construction at the Cabinda Phosphate Fertilizer Project. The BFA term sheet for an additional 5 billion kwanza has also been completed, ensuring full funding for the construction. This step is pivotal for the recommencement of the Cabinda Project's construction activities.
Key Points
  • Final security agreement signed with IDC in Luanda, Angola.
  • First drawdown request submitted for US$4.8 million.
  • Funds to cover Phase 1 final invoice and Phase 2 mobilisation costs.
  • Completion of BFA term sheet for additional funding.
  • Significant progress for Cabinda Phosphate Fertilizer Project recommencement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.