PhosCo Ltd ( (AU:PHO) ) just unveiled an update.
PhosCo Ltd has secured 100% ownership of the Gasaat Phosphate Project in Tunisia, marking a significant step towards its goal of becoming a global fertiliser supplier. The project, which is double the size of the original Chaketma project, hosts a substantial JORC Resource and is set to commence a major drilling program. The company has launched a fully underwritten A$5.0m entitlement offer and signed a Mandate Letter with the European Bank for Reconstruction & Development for a potential US$5.0m investment, which will aid in the Gasaat Bankable Feasibility Study. This strategic move is expected to expand PhosCo’s resource base, increase production forecasts, and enhance cash flow generation, positioning the company to capitalize on the growing global demand for phosphate.
More about PhosCo Ltd
PhosCo Ltd is a company operating in the fertiliser industry, focusing on the development and supply of phosphate products. Its primary market focus is on becoming a global supplier of fertilisers, with significant operations in Tunisia.
YTD Price Performance: -5.71%
Average Trading Volume: 77,736
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$19.02M
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