Quarterly Activities Report December 2014
Perth, Jan 22, 2015 AEST (ABN Newswire) - Fertoz Limited (
ASX:FTZ) announce the Quarterly Activities Report for the period ending December 2014 with the following highlights.
Fertoz increases its revenue stream by forming the "FertAg" joint venture which will import and market a proven specialty phosphate fertiliser (FertAg 0-8-0) in Australia
- 200 tonnes of FertAg 0-8-0 expected to land in Brisbane at end of January for sale in QLD and Northern NSW
- Approximately 2,700 tonnes of phosphate bulk sample mined from Wapiti and Fernie for processing over current northern winter period and sale in first half of 2015
- 'Eggers Soil Solutions' Ltd appointed to process rock phosphate in Grand Prairie region of Alberta, Canada
- Natures Way Farms Ltd, Sunalta Fertilizer Ltd and EnviroPerfect Solutions Ltd appointed as marketing agents to sell rock phosphate from the Company's 100% owned Wapiti and Fernie projects in British Columbia, Canada
- Application to increase mining to 75,000 tonnes per annum of phosphate rock at Wapiti submitted on 11 November 2014
Corporate
- A$1.25m debt facility completed with Chairman James Chisholm to accelerate growth
- Stuart Richardson appointed as non-executive Chairman of FertAg and Prem Akhil appointed an Executive Director of FertAg
- Fertoz Employee Share Plan implemented
Planned Activities - March Quarter 2015
- Commence sales of FertAg 0-8-0 in Australia
- Appoint national distributor for FertAg 0-8-0
- Establish working capital financing facility for purchase and sale of FertAg products
- Process bulk phosphate sample and conduct blending trials for product sales in Canada
Strategy
Fertoz is an explorer and developer of phosphate resources in Canada and the USA and manager and largest shareholder of a specialist fertiliser business in Australia. North America (USA and Canada) are both net importers of phosphate rock and are two of the largest agricultural economies in the world. The Company aims to supply direct application phosphate rock with minimal processing to both the lucrative organic and conventional fertiliser markets in North America. The USA is the largest organic food market in the world while Canada is the fourth largest.
Fertoz is targeting small, high-grade resources in North America that can be commercialised quickly and inexpensively, with high-grade product sold to organic farms and also in combination with calcium carbonate to conventional farms with acidic soils.
Fertoz will also seek to grow its business through the addition of cash generating fertiliser projects such as the joint venture with Vast Resources in Australia (49% shareholder in the FertAg joint venture).
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-FTZ-839295.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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