Australia's Minbos Resources rises on fertilizers supply deal with Angola firm

Minbos Resources

19/07/2023 01:52

** Shares of Minbos Resources Ltd  MNB.AX  rise as much as
34.8% to A$0.155, highest since May 4
    ** Exploration co signs a binding memorandum of
understanding with Grupo Carrinho, Angola's largest
agro-industrial group, for supply of fertilizer
    ** Says deal includes supply of 869,000 metric tons of
Cabinda Phosphate Rock over the first 7 years of production
    ** Stock posts biggest intraday gain since June 2
    ** About 2.1 mln shares change hand at 0040 GMT compared to
30-day average trading volume of 823,983 shares 
    ** Shares of co are up 16.2% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))