Minbos Receives Second Tranche of Funding for Africa Project; Shares Rise 9%

MT Newswires Live

03/07

Minbos Resources (ASX:MNB) received the second tranche of funding of $2.4 million from Angola's sovereign wealth fund Fundo Soberano de Angola (FSDEA)

to continue the construction of the Cabinda phosphate fertilizer project in Angola, according to a Friday filing with the Australian bourse.

The final tranche of $1.2 million will be received once the company completes the pending insurance renewal and presents supplier quotations for the project to the FSDEA, the filing added.

Shares of the company rose past 95 in recent Friday trade.

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