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Minbos raises cash for Cabinda

ASX-listed Minbos Resources is looking to raise A$7.3-million in a share placement to sophisticated investors to fully fund the definitive feasibility study and accelerate work at its Cabinda phosphate project, in Angola.

The company has received firm commitments for the placement of 91.25-million shares, priced at 8c each, with subscribers being offered one free option for every two shares subscribed for.