Proactiveinvestors recommends

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	POZ
Latest Price:	0.05 (0.00%)
52-week High:	0.20
52-week Low:	0.05
Market Cap:	5.82M

1 year chart

1 day chart

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.

Phosphate Australia resource jumps at Highland Plains in Northern Territory

Monday, October 19, 2009 by Amy Dry

Phosphate Australia (ASX: POZ) has upgraded the resource at Highland Plains to a 14 Mt, at the company’s flagship phosphate project in the Northern Territory.

Investors liked the news, pushing the stock up 8.7%.

The enhanced estimate within the project’s Western Mine Target Zone has been prepared at a cut-off of 15 per cent P2O5, compared with the zone’s previous estimate of seven Mt at 23 per cent P2O5.

The Highland Plain’s total Inferred Resource comprises 56 Mt grading 16 per cent P2O5.

Phosphate Australia managing director Andrew James said the company was in a good financial position to advance the project.

“The company is in a strong financial position to progress the project through the important near-term studies and reporting schedule required to achieve the Company’s objective of developing Australia’s lowest operating cost, new phosphate mining operation.

The WMTZ has emerged as the principal focus of the company, with the zone planned to support a startup mine with the production of 500,000 to 1 million tonnes per annum of beneficiated rock phosphate with trucking to the Gulf of Carpentaria coast.

With ongoing exploration drilling, there is further potential for Phosphate Australia to increase the global resource base at Highland Plains.

Last month, the company announced high grade hits at the project, including 10 metres at 24.7 per cent P2O5 from 8 metres; (with four metres at 31.1 per cent from 11 metres) and five metres at 24.7 per cent P2O5 from 34 metres at the project.

The project is located within EL 25068, 500km east of Tennant Creek and abutting the NT border with Queensland. There are also transport options to port, either to Queensland or ports in NT, as well as a rail option via the Tennant Creek Railhead.

Fresh from a capital raising, POZ is cashed up, with $8m cash on board.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.