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PhosCo Ltd ( (AU:PHO) ) has issued an update.
PhosCo has reported maiden Mineral Resource estimates for the KM and SAB deposits at its wholly owned Gasaat Phosphate Project in Tunisia, totalling 20.2 million tonnes at 20.5% P2O5, with most classified as Indicated. These new deposits feature low strip ratios and are located close to the proposed processing plant, which is expected to improve early production economics and cashflow.
With the inclusion of KM and SAB, Gasaat’s global Mineral Resource inventory has increased to 166.6 million tonnes at 20.6% P2O5, of which 92% is in Measured and Indicated categories, underpinning future feasibility work. Mine planning and metallurgical test work are well advanced and will feed into an updated scoping study, as PhosCo seeks to capitalise on rising global demand for new fertiliser sources.
More about PhosCo Ltd
PhosCo Ltd is an ASX-listed resources company focused on developing phosphate deposits within the Gasaat Phosphate Project in Tunisia. The company aims to build a large-scale, long-life mining operation supplying phosphate, a key fertiliser input, to nearby export markets and end users in the broader North African phosphate mega-province.
Average Trading Volume: 268,123
Technical Sentiment Signal: Buy
Current Market Cap: A$70.82M
Learn more about PHO stock on TipRanks’ Stock Analysis page.