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Fertoz Ltd

Fertoz continues to develop phosphate operations targeting 30,000-50,000 tonnes in USA

The company has built on its previous achievements in FY2018 and has delivered improvements across sales, marketing, exploration, permitting, mined and stockpiled ore supply, and agronomic research and logistics.

Phosphate samples
The company's objective is to become a growth-oriented agribusiness

Fertoz Ltd (ASX:FTZ) continues to develop processing and production capabilities at its North American operations with sales targets of 30,000-50,000 tonnes set for 2019 at its Solvoy stockpile in Montana, USA.

In October 2018, Fertoz identified and secured access to a 100,000-tonne stockpile of high-quality, high phosphate availability rock phosphate close to its existing operations at Deerlodge, Montana.

The company's annual report released today stated that based on this access, the company had set a sales target of 100,000 tonnes for 2020.

Towards the end of 2018, its Montana-based operations ramped up with Fertoz trucking about 800-1,000 tonnes of phosphate per week to fill spring and summer orders to ensure the company had enough product ready for 2019 spring delivery in North America.

The Australian-listed fertiliser supplier also established and utilised contract ore processing locations in Canada and the USA and by the end of December 2018, had pre-processed more than 11,000 tonnes of phosphate ore for delivery in the first half of 2019.

In March 2019, the company completed a distribution agreement with Federated Co-Operatives and partnered with Humic Growth Solutions (HGS) to develop a blended humic and phosphate product for various crops including cannabis.

HGS is targeting 10,000 to 12,000 tonnes of product volume with Fertoz in 2019, moving up to 25,000 tonnes in 2020.

During the second half of 2018, the company delivered phosphate to customers in North America with many indicating that tonnages are needed in 2019, including Fertoz’s largest customer.

READ: Fertoz signs distribution agreement with large Canadian co-operative

The company also continued to progress bulk sample permitting for leases in Canada including the Alberta and Marten project areas, with Fertoz having filed an application for a bulk sample permit at Barnes Lake.

A permit for the Marten lease is expected in the first half of 2019 and progress is also expected to be made on Fertoz’s Wapiti small mine application during 2019.

READ: Fertoz secures bulk sample permit for phosphate mining claims in Alberta

Fertoz continued exploration in Alberta and British Columbia, staking road routes and collecting ore samples from Alberta and British Columbia Fernie leases at Marten and Barnes Lake.

Ground mapping of phosphate outcrops was undertaken in the second half of 2018 with a JORC report on the area expected this year.

With its Alberta bulk sample permit now in place, the company will finalise logistics to enable mining to begin within the first half of 2019 as well as planning to update and expand organic registrations as it continues to develop new products to market.

Quick facts: Fertoz Ltd

Price: $0.16

Market: ASX
Market Cap: $20.58 m
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