Minbos Resources (ASX:MNB) enters trading halt – The Market Herald

0

Find out more about this capital increase

Be the first with news that moves the market

  • Minbos Resources (MNB) stops trading ahead of capital raise
  • The company didn’t reveal how much it will raise, but it did say a “significant” upcoming investment and strategic cooperation deal is in the works.
  • Under the halt, MNB shares will be suspended until Tuesday, July 12, or when further information about the increase is released to the market
  • On the market, MNB shares last traded at 13.5 cents on July 5

Minbos Resources (MNB) has ceased operations in anticipation of a capital increase.

It’s unclear how much the company aims to raise, but it said the announcement will come with a “significant” investment and a strategic cooperation agreement.

Under the halt, MNB shares will be suspended until Tuesday, July 12, or when further information about the increase is released to the market.

Minbos is a phosphate fertilizer and nutrient company focused on developing a nutrient supply and distribution business that drives agricultural production and promotes food security in Angola and the wider Congo Basin .

Recently, the company signed a memorandum of understanding with the world leader in green ammonia production 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 year of green products based on ammonium nitrate.

In the market, MNB shares last traded at 13.5 cents on July 5.


Source link

Share.

Comments are closed.