Minbos Resources (ASX:MNB) has raised $890,000 through an oversubscribed placement to progress technical and commercial aspects of its Cabinda phosphate project in Angola.
The company placed 178 million shares at $0.005 each, a premium to the company’s 30-day VWAP.
Proceeds will be used to acquire partner Petril Projects’ 50% share in the Cabinda project.
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