Fertoz Limited: Quarterly Activities Report - June 2014
30.07.2014 | ABN Newswire
Perth, Australia (ABN Newswire) - Fertoz Ltd. (ASX:FTZ) provide the Quarterly Activities Report for the period ending June 2014. Fertoz is an explorer and developer of phosphate resources in Canada and the United States of America, which are both net importers of phosphate rock and have two of the largest agricultural economies in the world. The Company aims to supply direct application phosphate rock with minimal processing to the lucrative organic fertiliser market in North America.
The USA is the largest organic food market in the world while Canada is the fourth largest. Fertoz is targeting small, high-grade resources in North America that can be commercialised quickly and inexpensively, with high-grade product sold to organic farmers or third-party fertilizer plants. The Company is planning first sales to customers in 2014 from its flagship Wapiti project
Highlights of the period and the full report are below:
WAPITI East
- Road works progressing in preparation for bulk sample collection to begin mid- August (delay caused by forest fire in local area)
- Bulk sample permit increased to 17,500 tonnes of phosphate
- Environmental baseline studies underway in preparation for small mine application (up to 75,000 tonnes)
- Wapiti East tenements expanded and phosphate horizon extended by 44% from 27km to 39km
- Agreement signed with two Canadian farmers to trial Wapiti East phosphate on broad-acre organic farms
- Discussions are continuing with marketing agents and distributors; appointment expected in 2014
- Wapiti royalty renegotiated and replaced with two share payments valued at CAD$100,000
Fernie Project
- Bulk sample of 10,000 tonnes approved
- Assays of phosphate stockpile samples between 24% and 27% P2O5
- Drilling, trenching and bulk sample collection planned in 2014
Dry Ridge Project
- Field work completed and permit applications being prepared for proposed drill program.
- Environmental studies commenced
Corporate
- Terra Capital increases stake in Fertoz to 11.39%
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-FTZ-808716.pdf
About Fertoz Limited:
Fertoz (ASX:FTZ) is an Australian-based phosphate exploration and development company with a range of projects in British Columbia, Canada as well as Queensland and the Northern Territory.
The Company is focused on becoming a fertiliser producer as quickly as possible, initially focusing on the Canadian/USA markets.
Fertoz plans to develop its exploration assets in Canada in order to identify any potential Direct Shipping Ore (DSO) projects. It intends to seek joint venture partners to assist in funding the exploration projects in Australia.
Phosphate is a commodity necessary for feeding the world, and Fertoz is ready to capitalise on this growing demand.
Contact:
Fertoz Ltd.
T: +61-7-3396-0024
F: +61-7-3396-0024
www.fertoz.com