viewFertoz Ltd

Fertoz organic phosphate sales get boost from legalised cannabis growers

Shares in the company have doubled to 19.5 cents over the past 12 months.

a small cannabis plant in soil being held by two cupped hands
A rapidly growing legal cannabis market has fertiliser in demand

Fertoz Ltd (ASX:FTZ) is advancing North American sales in line with previous forecasts and experiencing an increase in demand for organic phosphate.

This demand growth is being driven by recent legislative changes to the cannabis market.

Fertoz’s ability to meet increasing demand with high-quality product is a key value driver for the company.

Strong results from field trials continue

Fertoz’s executive chairman Pat Avery said: “Our North American trials on various plants are continuing to show good results, with good root and leaf growth, increased disease resistance and increased yields.

“Overall, our growers report healthier looking plants.

“There has been a noticeable increase in interest in our products from cannabis growers, now that the cannabis market in Canada is about to be legalised.”

READ: Fertoz’s organic fertilizer products continue to gain traction with vegetable growers

The company’s North American processing and deliveries are back in full production.

Avery added: “Separate to this good news is that our American processing operations are up and running again at full capacity now that the rain has cleared in Montana.

“Deliveries are on track to boost our revenue line in the 2018 Fall months.”

Fertoz ore being processed in Montana

Mexican partner Krezco to fill supply gaps

To ensure Fertoz has sufficient supplies to meet demand, it has secured additional sources of high-quality organic rock phosphate, leveraging its partnership with phosphate miner and distributor Krezco.

Avery added: “We have been making progress with our Mexican partner, Krezco, to the extent that we are now looking to ramp up production from that operation and feed organic fertilisers into the southern states of the United States.

“We are currently seeking to fill a position of Sales Representative for the region and hope to have that position filled in the near future.

“This will add to our North American sales during the coming Fall and Winter periods.”

Permitting at Fernie phosphate project in Canada

Fertoz is working towards a bulk sample permit for its Fernie phosphate project in Canada.

Avery added: “A field trip last week revealed a logging company that holds timber licenses over our tenements has felled all the trees, improving access to the phosphate deposit.

“We are undertaking an environmental review as the area over our land is a migratory path of eagles and raptors, but the operations planned by Fertoz are unlikely to have any impact on these migrations.”

Quick facts: Fertoz Ltd

Price: 0.08 AUD

Market: ASX
Market Cap: $10.35 m

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