[MEDIA] Minbos is developing the high grade (26% P2O5) Cacata...

Minbos is developing the high grade (26% P2O5) Cacata rock phosphate project in Angola. We interviewed CEO, Lindsay Reed, for an update on the progress of their BFS, bulk sample test work results as well as the development of the Porto de Caio which Minbos plan to use to export phosphate concentrate. 

Analyst Valuation: We maintain our belief that the market has overlooked the substantial underlying value at the Cacata project, as we determined an after tax valuation for 100% of the project of US$280m. We discounted our valuation by 50% as a number of our assumptions require confirmation (BFS). This however still results in a valuation of $0.033/share, which is a significant premium to the current share price ($0.006/share). 

This information is intended to provide general financial product advice only. It has been prepared without having regarded to or taking into account any particular investor’s objectives, financial situation and/or needs. All investors should therefore consider the appropriateness of the advice, in light of their own objectives, financial situation and/or needs, before acting on the advice. Where applicable, investors should obtain independent financial advice from a qualified financial advisor before making any decision.