Here goes: In recent weeks, we have been repeatedly reporting on First Phosphate, the first company in the otherwise fertilizer-dominated phosphate sector to specialize exclusively in the extraction and refinement of phosphate as a raw material for the lithium iron phosphate (LFP) battery industry. Yesterday, the Canadian Securities Exchange (CSE) announced that First Phosphate’s shares can be traded with the symbol PHOS as of today!
Here goes: In recent weeks, we have been repeatedly reporting on First Phosphate, the first company in the otherwise fertilizer-dominated phosphate sector to specialize exclusively in the extraction and refinement of phosphate as a raw material for the lithium iron phosphate (LFP) battery industry. Yesterday, the Canadian Securities Exchange (CSE) announced that First Phosphate’s shares can be traded with the symbol PHOS as of today!
According to Peter Kent, president of First Phosphate, the company believes that First Phosphate will now be the only publicly traded company in the world dedicated exclusively to the production of clean, high-quality and ethically sourced phosphate material for the lithium iron phosphate (LFP) battery industry.
First Phosphate holds a total of 1,500 square kilometers of exploration licenses in the Saguenay-Lac-St-Jean region of Québec, Canada, which it is actively developing to produce battery-grade phosphate. All licenses are located in the region around the town of Saguenay, which is strategically located. Saguenay has easy access to a deepwater port as well as a skilled workforce. In addition, daily flights to Montréal operate from there.
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First Phosphate’s eventual goal is integration into the supply chains of major North American LFP battery manufacturers who require battery-grade phosphate material that comes from a clean and safe supply source. The importance of this is illustrated by the example of Ford. The U.S. automaker, which is trying to expand its position in the electric vehicle market, recently announced plans to manufacture LFP batteries for electric vehicles in Michigan – but with the help of CATL (Contemporary Amperex Technologies Ltd.) of China. This naturally drew criticism in the U.S., where great efforts are being made to minimize the share of the People’s Republic in North American supply chains – the keyword being Inflation Reduction Act. According to media reports, US President Joe Biden, for example, declined an invitation to attend the official announcement of the Ford / CATL deal…
Conclusion: We definitely consider First Phosphate (from now on CSE PHOS) to be an extremely exciting, albeit more complex story from the electromobility or battery raw materials sector, and we are curious to see where it goes from here. The company has an ambitious strategy and a “vertically integrated production plan” that it is now important to implement. Perhaps in future, First Phosphate will be part of an alternative solution when it comes to. supplying automotive giants like Ford with material to make LFP batteries.
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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.
