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The latest announcement is out from First Phosphate Corp. ( (TSE:PHOS) ).
First Phosphate Corp. has filed its Preliminary Economic Assessment (PEA) Technical Report for the Bégin-Lamarche Phosphate Project in Quebec. The report, dated January 17, 2025, outlines a potentially viable case for open pit mining, projecting an annual production of 900,000 tonnes of phosphate concentrate and 380,000 tonnes of magnetite over a 23-year mine life. The project boasts strong financial metrics, including a pre-tax NPV of $2.1 billion and an IRR of 37.1%. It benefits from excellent infrastructure and logistics, including road access and proximity to the Port of Saguenay. However, the PEA is preliminary, and success depends on securing necessary consents and permits.
More about First Phosphate Corp.
First Phosphate Corp. is a mineral development company dedicated to extracting and purifying phosphate for the Lithium Iron Phosphate (LFP) battery industry. The company focuses on producing high-purity phosphate with a low carbon footprint, aiming to integrate directly into the supply chains of North American LFP battery producers. First Phosphate owns the Bégin-Lamarche Property in Quebec, Canada, which contains rare anorthosite igneous phosphate rock that yields high-purity phosphate material.
YTD Price Performance: 38.18%
Average Trading Volume: 113,325
Technical Sentiment Consensus Rating: Strong Sell
See more insights into PHOS stock on TipRanks’ Stock Analysis page.
