PERTH (miningweekly.com) – ASX-listed Fertoz has increased its property holding in Canada after being granted the Mt Lyne project area by the British Columbia Department of Energy and Mines.
The Mt Lyne property would form part of Fertoz’s greater Fernie phosphate project, with the company saying on Tuesday that it was a low-cost addition to its portfolio of projects and potentially expanded its existing direct application rock phosphate supply option.
“Fertoz continues to focus on long-term growth through the acquisition of near surface phosphate targets on or near infrastructure, with the potential for low-cost development,” said Fertoz MD Stephen Keith.
“We are pleased with the significant increase in size and potential of the Fernie project through the acquisition of the Mt Lyne property at minimal cost. This property adds to our potential supply options as we continue to focus on our stated objective of selling 10 000 t of rock phosphate this calendar year from our British Columbia projects.”
The Mt Lyne project is about 15 km north of Fertoz’s Crows Nest property, and covers 2 453 ha of land.
Fertoz was currently securing Organic Certification for direct application phosphate rock, undertaking more farming trials and arranging the crushing of mined rock to sell to local farming establishments and fertiliser manufacturers.
“The 2016 calendar year is shaping up to be a transformative year for Fertoz as our sales and marketing partners assist us in moving Fertoz to a cash flow generative business by supporting our sales and marketing efforts, and product positioning in the large agricultural markets of Canada and the US,” said Keith.