Insights

Minbos Resources (ASX:MNB) share price pushes higher on project update

The company’s shares are on the rise…
The post Minbos Resources (ASX:MNB) share price pushes higher on project update appeared first on The Motley Fool Australia. –

The Minbos Resources Ltd (ASX: MNB) share price is rallying after the Australian-based phosphate miner provided an update on a multi-stakeholder event.

At the time of writing, Minbos shares are up 3.41% to 9.1 cents apiece. However, it’s worth noting that its shares climbed as high as 10 cents during the first hour of market open.

What did Minbos announce?

In the release, Minbos advised it successfully showcased its fertilizer plans for Angola and the Economic Community of Central African States (ECCAS).

Held in Luanda, Angola’s capital, the high-level meeting affirmed the company’s Cabinda Phosphate Project as national and regional importance.

Attendees included Angolan government ministers, along with representatives from the Angolan presidential office, Angolan Sovereign Fund, non-government organisations and more.

The presentation consisted of the Cabinda Project, mining potential, Futila Granulation Plant, fertilizer blend, market development and local employment opportunities.

The International Fertilizer Development Centre (IFDC) provided an overview of the Angola Fertilizer and Farm Productivity Program (AFFPP). It’s expected that the IFDC will drive Minbos’ offtake and deliver fertilizer of 200,000 metric tonnes for Angola small holder farmers within the first 5 years.

During the meeting, it was conveyed that the Cabinda Project was strongly supported by the Angolan government.

Minbos CEO, Lindsay Reed commented:

What is now clear from subsequent meetings, was that that our showcase was a watershed moment for the Company and the Project, a moment for which Government support coalesced behind both our plans and that of the AFFPP.

It’s now clear that Minbos has the support of the Government (Angola) to produce not only Rock Phosphate Fertilizer, but to execute a range of Agri-business opportunities.

Through all of the challenges that developing a project during a pandemic has thrown-up, it’s clear that our Project and that of our project partners at the IFDC are having a real impact and gaining real momentum.

Minbos share price summary

Over the last 12 months, Minbos shares have enjoyed fruitful returns of more than 360%. In 2021 alone, the company’s share price has gained close to 150%.

Based on today’s price, Minbos has a market capitalisation of roughly $43.1 million, with 464 million shares on its books.

The post Minbos Resources (ASX:MNB) share price pushes higher on project update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Minbos right now?

Before you consider Minbos, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Minbos wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Southern Cross (ASX:SXL) share price booms 6% as profits nearly double
MA Financial (ASX:MAF) share price surges 10% on record first half results
Top brokers name 3 ASX shares to buy today

Why the Incannex (ASX:IHL) share price leapt 9% today
How the Humm (ASX:HUM) share price responded last earnings season

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!