{kanada_flagge}First Phosphate (WKN A3DQCH / CSE PHOS) is one of the few, if not the only, publicly traded company focused exclusively on the mining and refining of phosphate as a feedstock for the lithium iron phosphate (LFP) battery industry. The company controls more than 1,500 square kilometers of claims in the Saguenay-Lac-St-Jean region of the Canadian province of Quebec. It is there, more precisely in Port of Saguenay, that the company’s industrial facilities are to be built, for which First Phosphate has now been able to secure an important and often overlooked raw material.
{kanada_flagge}First Phosphate (WKN A3DQCH / CSE PHOS) is one of the few, if not the only, publicly traded company focused exclusively on the mining and refining of phosphate as a feedstock for the lithium iron phosphate (LFP) battery industry. The company controls more than 1,500 square kilometers of claims in the Saguenay-Lac-St-Jean region of the Canadian province of Quebec. It is there, more precisely in Port of Saguenay, that the company’s industrial facilities are to be built, for which First Phosphate has now been able to secure an important and often overlooked raw material.
For First Phosphate today reported a Memorandum of Understanding with NorFalco Sales, a subsidiary of Glencore Canada for the supply of sulfuric acid for the company’s future industrial facilities! The MOU calls for the soon-to-be partners to enter into a mutually beneficial sulfuric acid supply agreement. In this, First Phosphate agrees that NorFalco will supply the sulfuric acid needed to produce phosphoric acid in the future at Port of Saguenay or at the company’s other facilities in Quebec.
First Phosphate CEO John Passalacqua is understandably pleased to have brought NorFalco, Canada’s largest supplier and industry leader in the marketing and distribution of sulfuric acid, to the table. The final agreement, which has yet to be worked out, is intended to secure a source of supply for the material needed to process the magmatic anorthosite rock that First Phosphate has identified on its properties into purified phosphoric acid.
CEO John Passalacqua’s company is thus an important step closer to its goal of establishing a local supply chain for the LFP battery industry in North America. That’s because the construction of a phosphoric acid plant in Port of Saguenay, which it plans to do with partner Prayon Technologies of Belgium, would be a key milestone along that way. Since First Phosphate also wants to use the sulfuric acid to refine ilmenite into titanium and ferrous sulfate – ferrous sulfate is also used in the production of LFP batteries – all that is then missing is a lithium source, in simple terms, to supply the materials for the LFP supply chain at Port of Saguenay.
Risk notice: GOLDINVEST Consulting GmbH offers editors, agencies and companies the possibility to publish comments, analyses and news on https://www.goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they in no way replace an individual expert investment advice, it is rather promotional / journalistic publications. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. The acquisition of securities, especially with shares in the penny stock area, carries high risks, which can lead to a total loss of the invested capital. The GOLDINVEST Consulting GmbH and its authors expressly exclude any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here. Please also note our terms of use.
According to §34b WpHG i (Germany) and according to Paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of First Phosphate and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between First Phosphate and GOLDINVEST Consulting GmbH, which means that there is a clear conflict of interest.
