Australia's Minbos Resources soars on securing investment for Angola project

Minbos Resources

13/11/2024 23:51

** Shares of Minbos Resources  MNB.AX  rise as much as 30.2%
to A$0.069, posting their largest intraday pct gain since
late-June 2021
    ** Stock hits highest level since Aug. 29
    ** Agricultural chemical developer signs subscription
agreement with the Angolan Sovereign Wealth Fund for $10 mln
    ** Says funds will be used for the first phase of
construction of its Cabinda phosphate project in the country
    ** More than 2.1 mln shares change hands vs the 30-day avg
volume of 715,000 shares
    ** Stock down ~33% YTD, including current session's moves

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