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Minbos Resources Limited (ASX:MNB)

ALERT: Price-sensitive ASX Announcement for MNB
Current share price for MNB : $0.016 -0.008 (-33.33%)+
Announcement
Release
21 Jul 2026 8:38AM
Price at Release
$0.024
Full Release
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Summary
Minbos Resources Limited is progressing towards the initial drawdown of a US$5 million debt facility from Banco de Fomento Angola to support the Cabinda Phosphate Fertilizer Project. This forms part of a larger funding package with the Industrial Development Corporation of South Africa, totaling US$21 million. With shareholder resolutions approved to secure a credit guarantee, draft loan documentation will follow once finalized. The funding, expected to be available by August 2026, targets procurement and priority expenditures to advance project commissioning.
Key Points
  • Minbos Resources Limited is working towards initial drawdown of a US$5 million debt facility.
  • The debt facility is provided by Banco de Fomento Angola for the Cabinda Phosphate Fertilizer Project.
  • Shareholder resolutions were approved to finalize a credit guarantee from Fundo de Garantia de Crédito.
  • The BFA facility will complement a US$16 million project finance facility from the Industrial Development Corporation of South Africa.
  • Total project debt funding will amount to up to US$21 million.
  • The funding will support project development, including procurement of long-lead equipment.
  • A site inspection of the Subantando facilities has been requested by FGC.
  • BFA will issue the draft loan documentation once the FGC guarantee is confirmed.
  • The company targets BFA funding availability in August 2026 for initial drawdown to support priority project commitments.
  • Minbos Resources Limited will continue to update the market on progress.
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.