First Phosphate Secures US$530,000 Prepayment to Advance Quebec Phosphate Project

First Phosphate Corp. ( (TSE:PHOS) ) has issued an announcement.

First Phosphate Corp. has secured an initial US$530,000 lump-sum prepayment from an existing offtake partner under an amended long-term phosphate concentrate supply agreement, providing near-term funding to advance its Bégin-Lamarche phosphate project toward a feasibility study and eventual production decision. The company is currently executing a 30,000-metre drilling program, expected to conclude by April 2026, to upgrade its mineral resources and finalize the geological model that will underpin that feasibility decision, with the prepayment refundable if it elects not to proceed; in parallel, First Phosphate has issued 240,132 shares to the Pekuakamiulnuatsh First Nation under a collaboration agreement, underscoring its ongoing engagement with Indigenous stakeholders in the development of its Quebec assets.

The most recent analyst rating on (TSE:PHOS) stock is a Buy with a C$1.59 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. is a Canadian mineral exploration, development and cleantech company focused on building a vertically integrated, North American mine-to-market supply chain for lithium iron phosphate (LFP) batteries. Its flagship Bégin-Lamarche property in the Saguenay–Lac-Saint-Jean region of Quebec hosts a rare igneous phosphate deposit that yields high-purity concentrate with low impurities, targeting end markets such as energy storage, data centers, robotics, mobility and national security.

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Technical Sentiment Signal: Buy

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