Australia's Minbos soars on signing term sheet for funding package for unit

Minbos Resources

06/12/2024 24:50

** Minbos Resources  MNB.AX  jumps as much as 14.6% to
A0.094, highest since Feb. 21
    ** Fertilizer supplier signs term sheet with Banco BAI for
$12 mln term loan for its unit
    ** Says proceeds will be used to build Cabinda Phosphate
Fertilizer Project before the 2025 planting season
    ** Around 3.9 mln shares traded vs the 30-day avg of 1.5 mln
    ** MNB has fallen 15.5% this year, as of last close

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))