2015ASX Announcements

Phosphate Market & Company Update

By February 24, 2015November 4th, 2020No Comments

Highlights

  • On January 23, the company announced encouraging assay results from 26 trenches (in addition to the original 2 trenches announced October 8, 2014) at the Cerro Preto target.
  • On February 5, the company confirmed that 4.3 million shares were issued in the Rights Offering, resulting in proceeds of ~A$170,000 (16.7% take up).
  • Phosphate rock prices have continued to hold up while agricultural commodity prices continued to decline in January. Agricultural commodity prices have started to move up in February.
  • Global fertilizer producer and agriculture stocks performed well over the past month. Junior phosphate and potash explorers and developers were down 6.5% and 8.2% m/m, respectively.
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