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PhosCo Ltd ( (AU:PHO) ) has shared an update.
PhosCo Ltd has announced a significant phosphate discovery at the KM Prospect within its Gasaat Project in Tunisia. The initial drilling results have revealed shallow, thick phosphate mineralization, which is expected to enhance the project’s development economics by reducing mining and haulage costs. This discovery positions PhosCo to potentially accelerate its development timeline, leading to early production and cash flow. The company is also engaging with local authorities for exploration permits in other areas, indicating a strategic expansion in response to rising global demand for phosphate.
More about PhosCo Ltd
PhosCo Ltd is a company operating in the mining industry, focusing on the exploration and development of phosphate projects. Its primary market focus is on phosphate, a key component in fertilizers, with significant operations in Tunisia.
Average Trading Volume: 204,603
Technical Sentiment Signal: Hold
Current Market Cap: A$27.61M
See more insights into PHO stock on TipRanks’ Stock Analysis page.