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PhosCo Ltd ( (AU:PHO) ) has shared an announcement.
PhosCo Ltd has received a €1M grant from the European Bank for Reconstruction and Development (EBRD) to advance its Gasaat Phosphate Project in Tunisia. This funding, combined with an additional $1.1M investment from Managing Director Taz Aldaoud through the exercise of options, will be used to optimize the project ahead of a bankable feasibility study. The initiatives include incorporating the KM discovery into the resource, which is expected to enhance the project’s economics. The grant and investment reflect confidence in the project’s potential to significantly contribute to Tunisia’s economy and position PhosCo as a competitive player in the fertilizer market.
More about PhosCo Ltd
PhosCo Ltd is a company operating in the phosphate industry, focusing on the development of the Gasaat Phosphate Project in Tunisia. The company aims to become a cost-competitive, globally significant fertilizer producer.
Average Trading Volume: 294,596
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$35.5M
For an in-depth examination of PHO stock, go to TipRanks’ Overview page.