Australia's Minbos Resources hits 3-yr low on $14 mln loan facility

Minbos Resources

02/10/2024 04:20

** Shares of Minbos Resources  MNB.AX  fall as much as 21.4%
to A$0.045, their lowest since Jan 13, 2021 
    ** Agricultural chemical explorer set for largest intraday
pct drop since April 15, if current trend holds
    ** Co executes $14 mln loan facility agreement with
International Development Corporation of South Africa
    ** Says funds to be used to develop Cabinda phosphate
project in Angola
    ** About 8.8 mln shares change hands, 21.7 times the 30-day
avg of about 407,000 shares as of 0310 GMT
    ** YTD, stock down 53.6%, including current session's moves

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))