- Minbos Resources (MNB) enters a trading halt ahead of a capital raise
- The company has not disclosed how much it will be raising, however, it did say an upcoming “significant” investment and a strategic cooperation agreement is in the works
- Under the halt, MNB shares will be paused until Tuesday, July 12, or when further information about the raise is released to the market
- On the market, MNB shares last traded at 13.5 cents on July 5
Minbos Resources (MNB) has entered into a trading halt ahead of a capital raise.
It is not known how much the company is aiming to raise but it did say the announcement will come with a “significant” cornerstone investment and a strategic cooperation agreement.
Under the halt, MNB shares will be paused until Tuesday, July 12, or when further information about the raise is released to the market.
Minbos is a phosphate fertiliser and nutrient company that is focused on developing a nutrient supply and distribution business that stimulates agricultural production and promotes food security in Angola and the broader Congo Basin.
Recently, the company signed a memorandum of understanding with global green ammonia production leader Stamicarbon to conduct a technical study for the Capanda Green Ammonia Plant in Angola.
The technical study will assess a mixed production profile of 300,000 million tonnes per annum of green ammonium nitrate products.
On the market, MNB shares last traded at 13.5 cents on July 5.