Receives Approval for 17,500t Phosphate Bulk Sample
Sydney, May 23, 2014 AEST (ABN Newswire) - Fertoz Ltd (
ASX:FTZ) ("Fertoz" or the "Company") is pleased to announce that it now has approval to extract a bulk sample of up to 17,500 tonnes of product for sale to the North American agricultural market. Prior to this approval the Company had 9,500 tonnes available for extraction and the Company is now planning to increase the total bulk sample to 20,000 tonnes.
Managing Director Les Szonyi said, "We expect to start bulk sample collection in June, once minor creek crossings become passable."
As announced on 3 April 2014, two organic farmers will be undertaking farm trials from Wapiti phosphate and will be responsible for freight and rock phosphate processing.
Laboratory test results on the Company's Wapiti phosphate revealed very high phosphate availability, 10% compared to many other organic fertilisers that have availability as low as 3%. In addition, the Wapiti phosphate contained important secondary and tertiary minerals required for good plant growth making it suitable for North American organic markets.
The Company has commenced discussions with potential marketing agents and distributors, with the aim of appointing one in 2014. Fertoz has also started on a small scale (up to 75,000tpa) mining lease application which will include mine planning studies. The Company is reviewing a number of phosphate product options, such as bulk, pelletized, micronized and bagged phosphate, with the aim of supplying the US and Canadian organic markets in 2014. Recent research conducted by the Company on the US and Canadian organic farming markets highlighted the significant premiums being paid for organic phosphate by organic farmers in Canada and the United States.
The USA and Canada combined account for 48% of the world's organic market. In order to retain organic certification and receive the high prices consumers are prepared to pay for organically grown produce, organic farmers cannot use chemically beneficiated phosphates (superphosphate, DAP or MAP). This has led to an increase in the demand for organic fertilisers.
About Wapiti
The Wapiti Project (which includes the Wapiti East and Wapiti West tenements) totals an area of 18,070 ha and is located near Tumbler Ridge, in British Columbia, Canada. The project is easily accessible by sealed roads and forest service roads and has rail access within 80 km. The Company is focused on the Wapiti East tenements and previous work indicates a consistent and continuous at-surface phosphate-bearing horizon which has a potential strike length of up to 39km. Results of phosphate testing indicates up to 10% availability which makes the product at Wapiti East particularly attractive to the North American organic sector, the largest organic market in the world.
To view the release and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-FTZ-798445.pdf
About Fertoz Ltd
Fertoz (ASX:FTZ) is an Australian-based phosphate exploration and development company with a range of projects in British Columbia, Canada as well as Queensland and the Northern Territory. The Company is focused on becoming a fertiliser producer as quickly as possible, initially focusing on the Canadian/USA markets.
Fertoz plans to develop its exploration assets in Canada in order to identify any potential Direct Shipping Ore (DSO) projects. It intends to seek joint venture partners to assist in funding the exploration projects in Australia.
Phosphate is a commodity necessary for feeding the world, and Fertoz is ready to capitalise on this growing demand.
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