npv$937m vs mkt cap $2m, page-20

There will be no issues with the licences, Angola are spending billions in infrastructure and have cut mining tax to attract overseas investment into their rich mineral deposits..

"Angola, the fifth-largest diamond producer, has cut mine taxes and plans to spend billions of dollars to attract investment into mineral deposits, Geology and Mines Minister Francisco Queiroz said.

“The new law is very clear with lots of security for investors, which gives them certainty, transparency and guaranteed mining rights,” said Queiroz, who drafted the new code. “It has flexibility for companies to join with partners based on negotiation with the government, not imposition, which is a break from the past.”

Fertilizer Market

Australian Stock Exchange-listed Minbos Resources Ltd. (MNB) has an equal share of the Cabinda Phosphate Project with Petril Projects Ltd., a subsidiary of LR Group, and plans to start production in 2015. Vale Fertil Lda., an Angolan division of LR Group, will begin output by the end of next year from a project in the northern province of Zaire, Queiroz said.

The projects will supply 200,000 tons a year to the domestic market export the same amount, mostly to the U.S. and China, as well as to Europe and India, he said. Angola wants to double annual output to 400,000 tons within five years, he said.

“Our study of the international market has shown there is a phosphorus production deficit of about 25-30 percent and we hope to supply 10-15 percent of world demand in 10-15 years,” Queiroz said.

The Cabinda project contains the advanced exploration sites Mongo Tando, Chibuete, Ueca and Chivovo, and Cacata, a site in development, according to a March 15 regulatory filing by Minbos. The area’s exploration target confirmed by Coffey Mining Pty Ltd. is 333 million tons to 538 million tonnes with grades of 10-20 percent phosphate, Minbos said.

http://www.bloomberg.com/news/2013-04-04/angola-plans-iron-ore-manganese-investment-to-cut-oil-reliance.html

If they dont renewal our licences the are going to look silly arent they...

Maybe due to this investment, improving infrastructure, cutting mining tax.... this is what MNB refer to in teir recent ann when they state.."Angola has momentum"

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Whats our capex costs ?

c$100m ?

Uganda: a Chinese company will invest $ 560 million into the phosphate mining

Agency (Ecofin) - The Presidency of the Republic of Uganda announced on 19 September that the company Guangzhou Dongsong Energy Group Ltd. of China will invest at least $ 560 million in the development of a phosphate mine and the production of fertilizer and sulfuric acid in Uganda.

The Chinese company plans to produce 300,000 tonnes per year of phosphate from phosphate to be extracted from the mine in Tororo district, which lies in the fertilizer is Uganda bordering Kenya, adds -the same source.

It also plans to launch a sulfuric acid plant with a capacity of 200,000 tonnes per year and build a 5-megawatt power plant near the mine.

The chairman of Guangzhou Dongsong, Weidong Lv, reiterated the commitment of his company on this project in an interview that he had, on September 17, with Ugandan President Yoweri Museveni.

Weidong Lv also said on this occasion that his company has already received financial support from the investment fund China Africa Fund and the China Development Bank to ensure completion of the first phase of the project in 2015.

He has also said that Guangzhou Dongsong will provide annually 20 scholarships to young Ugandan China to train in the areas of oil and gas, management, agriculture, engineering and mining.

During a recent week-long visit to China, the Ugandan Prime Minister Amama Mbabazi, had invited Chinese companies to invest in infrastructure and mining projects in the country.

http://www.agenceecofin.com/phosphate/2009-13753-ouganda-une-compagnie-chinoise-va-investir-560-millions-dans-l-exploitation-des-phosphates

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We have very strong and roust economics, capex only c$100m this compared to $500m + in Uganda ..

Chinese must be interested in our projects whether it be DRC or Angola

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I'm looking forward to this months news