Minbos Resources

Website: www.minbos.com
Primary ticker: ASX:MNB
Stage of development: Exploration, Development
Primary minerals: Rare Earths, Phosphate
Project to promote: Ambato

Live financials

Minbos is an ASX -listed exploration and development company focussed on industrial minerals projects in Madagascar and Angola. The company has an option to acquire 90% of MRE Mining which holds two Rare Earth Minerals exploration permits in central Madagascar covering 440 square kilometres. The company has a 50% joint venture interest in Mongo Tando Ltd which recently had two phosphate licenses revoked in Angola. The company is exploring options to re-enter the projects in its own right.

Management Profile

Lindsay Reed, CEO

Lindsay Reed is a Mining Engineer with 30 years experience in exploration, development, operations and corporate finance. Lindsay has worked in minerals sands, copper and tin operations obtaining a Mine Managers Certificate. After completing an MBA he worked as a resource analyst in the Australian equity markets. Since then he has started and managed a number of resource companies with projects in a range of commodities in Australia, Africa and Asia.


Damian Black, Director 

Damian Black is a Director at Asia Principal Capital Operations Pty Ltd. He previously worked as an Associate Director (Corporate) at CPS Capital Group and at Tolhurst Ltd. Mr Black has been employed in corporate finance and stockbroking since 2006. Mr Black graduated from Curtin University in 1999 with a Bachelor of Science in Physiotherapy and also completed a Graduate Diploma in Applied Finance and Investment at FINSIA in 2005.


What is your rationale for attending 121 Mining Investment?

Minbos will be promoting its Rare Earth Interests in Madagascar on the back of geophysical survey results scheduled for late January with a view to exercising its option over the project and completing more drilling this season.

Minbos hopes to be in a position to provide an update on its phosphate interests in Angola and discuss potential corporate restructuring to separate the assets.

What recent news would you like to highlight to investors attending?

Termination of Mineral Investment Contracts Angola 30 November 2018
Drilling at Ambato Completed 18 October 2018
Africa Downunder Presentation 30 August 2018

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Exercisment of Ambato REE option

6 Months:

Ascertain invovlement in Angolan Phosphates

12 Months:

Restructuring of share capital and projects.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Exploration risk in Madagascar will be managed with a staged program to identify, prioritise and explore targets. Tenure risk in Angola will overcome by seeking participation in a new ownership structure.

What do you think makes your company such a compelling investment?

Company is trading at a little over cash backing with a tight top 40, experienced board and management with exposure to Rare Earths in Madagascar and Phosphate IP in Angola with potential for corporate restructuring to release value.

Analyst Insight – provided by Independent Investment Research

Minbos Resources is an ASX-listed exploration and development company, with interests in phosphate ore within the Cabinda Province of Angola and Rare Earth Elements in Madagascar.

The company has an option to acquire 90% of MRE Mining which holds two Rare Earth Minerals exploration permits in central Madagascar covering 440 sq km. The company has a 50% joint venture interest in Mongo Tando Ltd which recently had two phosphate licenses revoked in Angola. The company is exploring options to re-enter the projects in its own right.

Intermittent sampling at Ankazohambo identified bastnaesite mineralisation over a strike length of 2.4km. Historical trenching at Ankazohambo across strike has returned up to 50m of elevated REE mineralisation. A total of seven REE prospects have been identified to date in the license package including Ankazohambo.

Data processing and interpretation of Minbos’ airborne geophysics has shown that radiometric anomalies have a strong correlation to rare earth occurrences at Ankazohambo, as confirmed by 2018 drilling. Two additional radiometric anomalies have been delineated at Ankazohambo – one approximately 800m in length on the eastern ridge at Ankazohambo, and the other approximately 1.5 km in length on the western ridge. Three radiometric anomalies have been identified in the western area, the largest being Marovoalavo in the south, which is uranium-poor suggesting mineralisation is predominantly bastnasite.

The company’s phosphate assets are located in Angola. Minbos held a 50% interest in the Cabinda Phosphate Project, which incorporates an approximate 2,000 sq km exploration permit covering all the known phosphate occurrences in the Cabinda Province. The remaining 50% was held by private company, Petril Phosphates. The project contains one development project – Cacata, and five advanced exploration projects – Mongo Tando, Chibuete, Ueca, Chivovo and Cambota.

All of these projects lie within 50km of the coast and within 0.5km of the established road infrastructure providing an excellent economic basis for the Project. Minbos has delineated a substantial resource of 449.8Mt at 9.8% P2O5. Within this resource, two high-grade projects have been identified at the Cacata and Kanzi Deposits.