Fox River Secures Ontario Funding for Phosphate Project

Fox River Resources ( (TSE:FOX) ) has shared an announcement.

Fox River Resources has been awarded up to CAD$218,500 from Ontario’s Critical Minerals Innovation Fund to advance process test work on its Martison project. This funding supports the conversion of merchant grade phosphoric acid into purified phosphoric acid, crucial for the LFP battery supply chain. The initiative aligns with Ontario’s strategy to strengthen its critical minerals supply chain, bolster economic growth in Northern Ontario, and support the agricultural sector with essential fertilizers.

Spark’s Take on TSE:FOX Stock

According to Spark, TipRanks’ AI Analyst, TSE:FOX is a Neutral.

Fox River Resources receives a low overall stock score due to significant financial challenges, including the absence of revenue and ongoing operational losses. Despite positive technical indicators suggesting upward price trends, the lack of valuation metrics and earnings data limits a comprehensive assessment of the company’s potential.

To see Spark’s full report on TSE:FOX stock, click here.

More about Fox River Resources

Fox River Resources Corporation is a company focused on the development of the Martison Phosphate Project, located near Hearst, Ontario. The project hosts a high-grade, large-scale igneous phosphate deposit, which is significant for supplying phosphate fertilizers and purified phosphoric acid for the LFP battery supply chain.

Average Trading Volume: 34,333

Technical Sentiment Signal: Buy

For an in-depth examination of FOX stock, go to TipRanks’ Overview page.