First Phosphate Corp. Strategic and Financial Updates

First Phosphate Corp. recently finalized resource estimates and economic assessments for its Bégin-Lamarche phosphate mine. The company estimates a capital cost of $459 million for the mine, with projected annual revenues of $362 million over 23 years. Long-term offtake agreements have been entered into.

The company is also developing a phosphoric acid plant and has chosen La Baie (Quebec) for its first iron phosphate plant. Despite high costs, studies are progressing and financing is underway.

Management changes were announced: Armand MacKenzie becomes president and David Dufour, executive vice-president. At the same time, shares were purchased by executives, reinforcing internal interest in the company's growth.