Minbos Resources Limited Announces Update to Definitive Feasibility Study At Cabinda Phosphate Project
outsized impact on product pricing. The granulation flow sheet was designed to be flexible allowing for different products and formulations to be produced. An external review of the flowsheet by the IFDC concluded that the
current plant is capable of producing beneficiated phosphate rock-based products with minor modifications. The mass and energy balances can be simply calculated and will verified in a pilot plant trial scheduled in early June. Updating the DFS requires updating the production flowsheet which can be repurposed to switch from granulation to Phosphate Rock beneficiation campaigns with relatively minor changes The engineering calculations will be completed in the coming weeks and will be confirmed in the next pilot trial scheduled for the second week of June at the IFDC Headquarters. This trial will produce 7 tonnes of product for agronomic demonstration trials in Angola later this year. The engineering component of the revised DFS can be completed in approximately 3 months and the Company will provide an update on the market component after technical discussions with new potential customers. Meanwhile, the Company will continue to build its Phosphate Plant through its EPCM contractors.