Aguia Resources Limited (AU:AGR) has released an update.
Aguia Resources Limited is poised to enhance the economics of its Tres Estradas Phosphate Project in Brazil by leveraging existing processing facilities, which could lead to significant capex savings of over 75%. The company is in advanced negotiations to finalize terms for a lease or purchase agreement, which could see production start by mid-2025 and aims to fund up to 70% of project development costs with a renewed loan, minimizing shareholder dilution. The project aims to supply the local market, which currently relies solely on imported phosphate, with a projected annual output of ~300,000 tonnes of organic phosphate fertilizer.
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