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Fertoz Ltd

Fertoz secures bulk sample permit for phosphate mining claims in Alberta

The company is planning an initial 5,000-tonne bulk sample to develop organic N-P-K fertiliser products for local farmers.

fertiliser blend
Fertoz is expecting a 15% cost saving using the new rock phosphate

Fertoz Ltd (ASX:FTZ) has secured a Bulk Sample Permit for the Fernie claims in Alberta, Canada.

This will allow the organic phosphate development company to start extracting rock phosphate for its planned sales and N-P-K (nitrogen-phosphorus-potassium) blending trials to be conducted this year.

Notably, the Fernie claims show outcropping rock phosphate and Fertoz’s field work indicates that the rock phosphate seams will have a very low strip ratio.

Fertoz’s calculations indicate that it will achieve at least a 15% cost saving using this rock phosphate compared to its stockpiles in Montana, and this will improve the company’s bottom line during 2019.

 

Fertoz chief operating officer and geologist Jo Shearer said: “Earning this Bulk Sample Permit represents a great start to CY19 for Fertoz.

“On the basis of positive feedback from the British Columbia Ministry of Energy, Mines and Petroleum Resources regarding our similar Bulk Sample Permit applications covering the Marten and Barnes Lake claims in BC, we expect to achieve further permitting progress early in 2019.”

READ:  Fertoz shores up two years of phosphate supply as it awaits mining permits

Fertoz executive chairman Pat Avery said: “We will provide a sales update in the coming weeks, but suffice to say that Fertoz is on track for a successful year ahead.

“We learned a lot in 2018. In some ways, it was a pretty tough year for us, ramping up to over 10,000 tonnes of shipments, with numerous logistics issues to solve, whilst at the same time managing weather, new customers and a number of field trials.

“However, we have now developed a sustainable operating model which empowers Fertoz to deliver significantly more mine gate sales in 2019 and beyond, especially from our own projects.

READ: Fertoz signs phosphate sales and supply agreement with Humic Growth Solutions

“Earning a Trenching and Bulk Sample Permit for our Alberta claims is a significant step forward in executing our growth ambitions.”

Quick facts: Fertoz Ltd

Price: $0.16

Market: ASX
Market Cap: $20.58 m
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Fertoz (ASX:FTZ) Exec Chairman Pat Avery joined Steve Darling from Proactive Investors on Skype to chat about the company that specializes in organic fertilizer. Avery talked about the origins of the company and how they have grown this year in order to set them up for the future. Avery...

on 07/09/2019

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