Signs 2,000 Tonne Rock Phosphate Sales Agreement
Perth, Feb 25, 2016 AEST (ABN Newswire) - Fertoz Ltd ("Fertoz" or the "Company") (
ASX:FTZ) is pleased to announce that it has entered into a sales agreement to sell 2,000 tonnes of rock phosphate to a fertilizer manufacturer and distributor. It is expected that supply of the product will occur early in third quarter this year with the view that additional sales may occur after this point.
Stephen Keith, Managing Director, stated "We are please d to be able to commence delivering on our commitment to sell 10,000 tonnes of rock phosphate this calendar year. It is encouraging that we have signed an agreement that achieves 20% of our targeted sales so early in the year. This sale provides support that we have the right business model in the right market at the right time. This sale, combined with our newly appointed Director and our recently announced sales and marketing partnership, indicate our focus on developing our projects with a view towards long term sustainability and cash flow."
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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