The latest announcement is out from PhosCo Ltd ( (AU:PHO) ).
Lion Selection Group Limited has committed to a $1 million sub-underwriting as part of PhosCo Ltd’s $5 million rights issue, marking a strategic investment in PhosCo’s Tunisian phosphate projects. PhosCo has secured full ownership of the Gasaat Phosphate Project and has signed a mandate letter with the European Bank for Reconstruction & Development for a potential $5 million investment, which will aid in a bankable feasibility study. This development signifies a major transformation for PhosCo, which has regained its Chaketma project interest through legal action, and positions the company to leverage its advanced phosphate assets in a strategic commodity market.
More about PhosCo Ltd
PhosCo Ltd operates in the phosphate industry with a focus on large-scale phosphate projects in Tunisia. Its primary assets include the Gasaat Phosphate Project, which has a significant mineral resource estimate, and the nearby Sekarna project. PhosCo aims to attract interest from phosphate fertilizer industry players.
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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