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Minbos Resources Limited
(Sydney:MNB)
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Rating:43Neutral
Price Target:
AU$0.02
▼(-20.00% Downside)
Action:Reiterated
Date:07/28/26
The score is held down primarily by very weak financial performance—minimal revenue, ongoing large losses, and significant negative operating/free cash flow that suggest continued reliance on external funding. Technicals are modestly negative over the longer term (below 100/200-day averages), and valuation is constrained by negative earnings and no dividend support.
Positive Factors
Low leverage / strong capital base
A low debt load versus a multi‑million equity base materially reduces near‑term financial distress risk and preserves optionality. For a development company this balance-sheet strength supports project financing discussions and gives runway to advance Cabinda without immediate debt pressure, aiding multi‑month execution plans.
Negative Factors
High cash burn / negative FCF
Large negative operating and free cash flows indicate the company is consuming material cash to advance the project without offsetting operating receipts. This persistent burn forces reliance on capital markets or partners, increases execution risk for development timelines, and can pressure strategic choices over the next several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong capital base
A low debt load versus a multi‑million equity base materially reduces near‑term financial distress risk and preserves optionality. For a development company this balance-sheet strength supports project financing discussions and gives runway to advance Cabinda without immediate debt pressure, aiding multi‑month execution plans.
Read all positive factors
Minbos Resources Limited (MNB) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$28.06M
Dividend YieldN/A
Average Volume (3M)844.50K
Price to Earnings (P/E)―
Beta (1Y)1.62
Revenue GrowthN/A
EPS Growth29.82%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,336,113,300
10 Day Avg. Volume1,185,703
30 Day Avg. Volume844,496
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)0.74
Price to Sales (P/S)542.92
P/FCF Ratio-1.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Minbos Resources Limited Business Overview & Revenue Model
Company Description
Established in 2009 and headquartered in Subiaco, Australia, Minbos Resources Limited specializes in the exploration and advancement of mineral projects. Its core focus lies in the identification and development of phosphate deposits. The company ...
How the Company Makes Money
Minbos Resources’ expected revenue model is to monetize phosphate resources from its Cabinda Phosphate Project by developing, producing, and selling phosphate-based products into fertilizer/soil-nutrition markets (either as phosphate rock and/or p...
Minbos Resources Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 43.33K | 0.00 | 0.00 | 95.68K | 0.00 |
| Gross Profit | -210.20K | -265.38K | -224.49K | 12.46K | 0.00 |
| EBITDA | -8.32M | -10.32M | -8.20M | -4.30M | -747.22K |
| Net Income | -7.80M | -9.74M | -7.54M | -4.58M | -804.62K |
Balance Sheet | |||||
| Total Assets | 36.78M | 40.73M | 26.28M | 36.78M | 15.18M |
| Cash, Cash Equivalents and Short-Term Investments | 2.29M | 12.86M | 4.60M | 17.47M | 3.64M |
| Total Debt | 751.03K | 750.13K | 57.90K | 125.23K | 158.03K |
| Total Liabilities | 2.11M | 3.61M | 1.91M | 1.16M | 1.54M |
| Stockholders Equity | 32.00M | 35.78M | 25.94M | 35.63M | 13.64M |
Cash Flow | |||||
| Free Cash Flow | -18.42M | -12.87M | -16.27M | -8.49M | -11.46M |
| Operating Cash Flow | -9.28M | -10.32M | -9.51M | -1.61M | -1.99M |
| Investing Cash Flow | -9.30M | -5.16M | -6.77M | -7.83M | -6.99M |
| Financing Cash Flow | 7.83M | 23.78M | 3.09M | 23.74M | 5.74M |
Minbos Resources Limited Peers Comparison
UnderperformOutperform
Sector (61)
AU:MNB
Minbos Resources Limited
0.02
-0.04
-70.69%
AU:AGR
Aguia Resources Limited
0.02
-0.01
-41.38%
AU:AMN
Agrimin Limited
0.05
-0.05
-54.08%
Minbos Resources Limited Corporate Events
Minbos Advances Cabinda Phosphate Plant as Trials Boost Upland Rice Yields
Jul 31, 2026
Minbos Resources reported a pivotal June quarter marked by the appointment of new chief executive Rob Newbold to drive disciplined execution and prepare the Cabinda Phosphate Project for long-term operations. The company advanced funding arrangeme...
Minbos advances construction and funding for Cabinda phosphate project in Angola
Jul 28, 2026
Minbos Resources has reported steady progress at its Cabinda Phosphate Project in Angola, with Phase 2 structural steel fabrication underway and construction on schedule for completion and dry commissioning in the second quarter of 2027. Minor civ...
Minbos Resources Seeks ASX Quotation for 174 Million New Shares
Jul 26, 2026
Minbos Resources Limited has applied for quotation on the ASX of 174,275,639 new ordinary fully paid shares, with an issue date of July 24, 2026. The application, lodged as a new announcement under Appendix 2A of the ASX Listing Rules, formalizes ...
Minbos Raises A$2.6m in First Tranche of Share Placement
Jul 26, 2026
Minbos Resources Limited has raised approximately A$2.6 million through the issue of 174,275,639 fully paid ordinary shares under Tranche 1 of a previously announced placement, priced at $0.015 per share. The company plans a second tranche of shar...
Minbos Advances US$21m Financing Package for Cabinda Phosphate Project
Jul 21, 2026
Minbos Resources has reported progress toward securing a US$5 million debt facility from Banco de Fomento Angola for its Cabinda Phosphate Fertilizer Project. The funding is structured with a credit guarantee from Angola’s Fundo de Garantia ...
Minbos Signs US$13.8m Contract to Advance Cabinda Phosphate Plant
Jun 22, 2026
Minbos Resources Limited has signed a US$13.8 million Phase 2 construction contract with Portuguese-Angolan contractor Grupo Arliz for the Cabinda Phosphate Fertilizer Plant in Angola. The deal covers all remaining structural, mechanical, electric...
Minbos names Rob Newbold as CEO to steer Cabinda phosphate project
Jun 17, 2026
Minbos Resources has appointed Rob Newbold as full-time chief executive officer, formalising his role after serving as acting CEO since February 2026 and leading day-to-day operations. The board highlighted his two decades of experience across ind...
Minbos Shareholders Back All Resolutions at 2026 AGM
May 29, 2026
Minbos Resources Limited reported that all 18 resolutions put to shareholders at its Annual General Meeting held on 29 May 2026 were passed on a poll, with two of them carried as special resolutions. The approvals included the remuneration report,...
Minbos Secures IDC Debt Facility and Funding to Advance Cabinda Phosphate Project
May 26, 2026
Minbos Resources has executed the final security agreement for its US$16 million loan facility with the Industrial Development Corporation of South Africa, clearing a key hurdle for accessing project finance. The company has lodged an initial draw...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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