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Fertoz gains new substantial shareholder; order book grows

The company is focused on the organic phosphate market on the west coast of the USA and the Canadian Prairies.

Fertoz Ltd - Fertoz gains new substantial shareholder; order book grows
Farmers and distributors have placed new orders during the first few weeks of 2020

Fertoz Ltd (ASX:FTZ) has a new substantial shareholder in Malcolm Weber who has accumulated a 6.2% stake.

The organic phosphate company recently y received approvals to extract phosphate rock from both its Marten and Alberta projects under new permits.

Fertoz executive chairman Patrick Avery stated last month: “We are pleased to advise that our December quarter was a significant one for the company in securing our future.

“We identified and secured more phosphate rock in Montana that provides us sufficient material to meet expected orders over the next two to three years.

“We found more in our Marten project on both sides of the border, and as shareholders would recall, this is shallow phosphate with much easier logistical and potential mining conditions and much closer to transport than our Wapiti project.

New distributors appointed

“Our push to dominate the organic phosphate market on the west coast of the USA and the Canadian Prairies continued with the appointment of more distributors and additional orders.

“Favourable field trial results and attendance at numerous farm expos and conferences have enhanced our reputation.

“We are seeing the results of this in the first few weeks of 2020, with new farmers and distributors placing orders for our products.”

Quick facts: Fertoz Ltd

Price: 0.057 AUD

ASX:FTZ
Market: ASX
Market Cap: $8.8 m
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