UNDERVALUED

The Most Undervalued Stock In Our Portfolio

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.

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Please note: Raisebook is a related entity of S3 Consortium Pty Ltd as defined in Section 9 of the Corporations Act 2001.

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