UK 07:22 Wednesday, 11 November 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Baobab Resources (BAO) has won a 25-year mining licence from Mozambique’s National Department for Mines for its long-standing flagship pig iron and and-vanadium project in the southern African country’s mineral-rich Tete province. Since both substances are involved in the currently out-of-fashion process of steelmaking and trade at fractions of previous peaks, the stockmarket has hardly jumped for joy, but the company, which has also agreed a new £700,000 funding package with its key shareholder, Luxembourg-based African Minerals Exploration and Development Fund (Amed), prefers to take a more sanguine view.
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Comments
Steve Yelland
Robert- Thanks for the update. Just to clarify, the funding gives Topaz the right to convert the loan into 65% of the Monte Muande JV, not the Tete project which is their key asset here. MM could bring some early cashflow but its not key to the pig iron project.