Australia's Minbos Resources soars on extraction of first phosphate ore at Angola project

Minbos Resources

29/10/2026 04:34

** Shares of Minbos Resources MNB.AX surge as much as 23.3% to A$0.018, their biggest intraday pct gain since May 27
** Shares hit their highest level since September 18
** Phosphate developer says first phosphate ore extracted from Cacata deposit at Cabinda phosphate project in Angola
** Co says mined ore is being stockpiled on site as feedstock for Subantando fertiliser plant planned for Q2 2027
** More than 11 million shares traded so far, about 3x the 30-day average
** YTD, stock down 22.9%, including session's moves 

(Reporting by Subhalakshmi Dey in Bengaluru)
((Subhalakshmi.Dey@thomsonreuters.com;))