Australia's Minbos Resources gains on loan facility in South Africa

Minbos Resources

17/10/2023 01:39

** Shares of Minbos Resources  MNB.AX  up 13.4% at A$0.11,
set for best day since July 19, if gains hold 
    ** Fertilizer and nutrient co says it received an indicative
term sheet for $14 mln loan facility from the Industrial
Development Corporation of South Africa (IDC)
    ** Says, co is confident it can build its Phosphate
Fertilizer Project at a significant discount to the budgeted
capital expenditure
    ** Adds, engagement with IDC may also provide other
commercial opportunities
    ** MNB stock at its highest level since Sept. 19
    ** Stock down ~2% YTD as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))