Minbos Resources Limited has upsized its previously announced placement by A$2.0 million following strong investor demand, bringing the total funds raised under the placement to A$6.0 million.

The enlarged placement will provide additional working capital as Minbos progresses the Cabinda Phosphate Project toward first production. Proceeds are principally earmarked to support the transfer of the Mining Investment Contract and Mining Licence, satisfy conditions precedent to the first drawdown under the Banco de Fomento Angola financing facility, and establish working capital facilities for mining operations, fertiliser inputs, and inventory.

Additional funds will be applied toward grade control, mine mobilisation, the commencement of mining, and ongoing grower and customer trials. Demonstrating internal support, the board and management have committed to an additional A$150,000 under the placement.

Minbos will issue an additional 133,333,333 placement shares at $0.015 per share, along with one placement option for every one placement share subscribed for, on the same terms and conditions as the initial A$4.0 million tranche announced on 20 July 2026. The issue of the placement shares and options remains subject to shareholder approval at a General Meeting scheduled for mid-late September 2026.

Minbos advanced the Cabinda project toward construction and operational readiness in July 2026, with completion and dry commissioning targeted for the second quarter of 2027.

Read the full announcement: Placement upsized to A$6.0M following strong investor demand