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Additional Information
Market:ASX
Sector:General Mining
EPIC:POZ
Latest Price: 0.08  (0.00%)
52-week High:0.13
52-week Low:0.05
Market Cap:8.24M
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Phosphate Australia Full Phosphate Australia profile here

Phosphate Australia (ASX: POZ) is targeting the production and sale of 500,000 to 1 million tonnes per annum of premium grade rock phosphate with low contaminants into the Asian market.

Highland Plains, the company's leading phasphate project in the Northern Territory, has an Inferred Resource of 56 million tonnes at 16% P2O5.

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Phosphate Australia shares soar 74%, the ASX asks why

Monday, February 07, 2011
Phosphate Australia shares soar 74%, the ASX asks why

With political unrest in North Africa and worries about global supplies of rock phosphate, a a 74% share spike to $0.20 for Phosphate Australia (ASX: POZ) was enough for the ASX to send a price and volume query.

The company said it is not aware of any material information that has not been released to the market which may explain the sudden investor interest, but did quote in a response back to the ASX:

'The company is aware of recent political unrest in Egypt and the region, which has resulted in the speculation concerning potential disruptions to the global supply of rock phosphate.

'This speculation is likely to contribute to increased interest in the company's phosphate projects, specifically the Pre-Feasibility stage Highland Plains project where the company has a JORC compliant Inferred Resource of 56 million tonnes at 16% P2O5.

'At Highland Plains, the company is currently targeting the production and sale of up to 3 million tonnes per annum of beneficiated rock phosphate.'

Phosphate is likely to be an evolving story of twists and turns. The rock phosphate price has risen from $US140 a tonne to $US155/tonne in the past month.  It is not surprising that investors are turning to companies with potential alternative supplies of phosphate.

 

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