SCOPING STUDY

Province Resources (ASX:PRL) has emerged from its “quiet execution phase” with a broad operational update on its ​​HyEnergy Zero Carbon Hydrogen™ Project this morning, and should also be supported by clean energy tailwinds in the mainstream media this week.

We currently think Minbos Resources (ASX: MNB) is the most undervalued stock in our portfolio, given their progress since we first invested. MNB recently released a Scoping Study, which estimated an after tax Net Present Value (NPV) of between US$159 and US$260M.

We have recently made a large, long term investment in Minbos Resources Ltd (ASX: MNB), a $11M capped company that has a world-class phosphate ore project within the Cabinda Province of Angola, which has just released a highly positive Scoping Study.