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First Phosphate Corp. ( (TSE:PHOS) ) has issued an announcement.
First Phosphate Corp. has successfully closed the final tranche of its oversubscribed private placement, raising a total of $11.5 million. This funding is part of a larger effort, with the company having raised approximately $40 million since June 2022. The capital will support the company’s ambitious timeline to complete a feasibility study by 2026, secure mining permits by 2027, and establish an operational phosphate mine by 2029. The company has also engaged in a marketing contract to enhance its visibility and has seen participation from key insiders, indicating strong internal confidence in its strategic direction.
The most recent analyst rating on (TSE:PHOS) stock is a Buy with a C$1.15 price target. To see the full list of analyst forecasts on First Phosphate Corp. stock, see the TSE:PHOS Stock Forecast page.
More about First Phosphate Corp.
First Phosphate Corp. operates in the mining industry, focusing on the development of igneous phosphate mines. The company is committed to establishing a North American lithium iron phosphate (LFP) battery supply chain, which is considered crucial for national security in both the United States and Canada.
Average Trading Volume: 248,079
Technical Sentiment Signal: Buy
For a thorough assessment of PHOS stock, go to TipRanks’ Stock Analysis page.