Fertoz’s Wapiti Phosphate to be Trialled on Canadian Broad-Acre Organic Farms
April 3, 2014 (Source: Fertoz Limited) — Highlights:
- Two certified organic farms to test phosphate from Fertoz’s Wapiti project
- Trials will complement existing marketing efforts and assist with broadening market for Wapiti phosphate
Fertoz Limited (“Fertoz” or the “Company”) is pleased to announce that, following successful laboratory testing, it has signed an agreement (“Agreement”) with two organic broad acre farms in Western Canada to trial the agronomic effectiveness of phosphate from its Wapiti Project in British Columbia, Canada.
The farms are organically certified and the operators, who are professional agronomists, have agreed to assist Fertoz in increasing sales of Wapiti phosphate in the growing organic sector in North America.
Under the terms of the Agreement, Fertoz will supply up to 1,000 tonnes of phosphate rock from Wapiti at the mine gate. The farmers will be responsible for freight, rock phosphate processing and the costs of the farm trials. All information, testing procedures, processing techniques and application methods will be provided to Fertoz as part of the Agreement.
Fertoz will begin to supply product to the farms from the 7,500 tonne bulk sample which was approved for extraction by the mines department in February 2014. The timing of the bulk sample extraction is dependent on prevailing weather conditions.
Managing Director Les Szonyi said, “This is a great leap forward for us. The laboratory results showed Wapiti has high available phosphate when compared to similar organic fertilizers, and now we have farmers seeking out our product to test it on their farms.“
“Test marketing by organic farmers is an important step in obtaining a good understanding of the benefits that Wapiti phosphate can provide to the agricultural sector in North America. It will assist us to implement our marketing plan which is being designed to secure first sales of Wapiti phosphate in 2014.”
“The organic farmers are focused on achieving an optimum soil mineral balance and believe the high phosphate availability (10% availability with 23% phosphate-bearing rock) along with the mix of important secondary and tertiary minerals present in the Wapiti phosphate rock will lead to significant yield improvements.”
Wapiti East, near Tumbler Ridge, is one of five Fertoz phosphate projects in British Columbia. Drilling on Wapiti East in September 2013 showed a consistent and continuous surface phosphate-bearing horizon along East and West Limbs for a total of 17 kilometres of strike length.
Fertoz is exploring for high-grade phosphate resources in Canada and the United States of America, which are two of the largest agricultural economies in the world and which both import phosphate rock. Fertoz has five projects in Canada – Wapiti (East and West), Barnes Lake, Crows Nest and Marten, which are all proximate to infrastructure — and an option on one project in Idaho, USA, again proximate to infrastructure. Fertoz is targeting small, high-grade resources in the Americas that can be commercialised quickly and inexpensively, with high-grade product sold to organic farmers or third- party fertilizer plants.
This document may contain forward-looking statements. Sentences and phrases are forward looking statements when they include any tense from present to future or similar inflection words, such as (but not limited to) “believe,” “estimate,” “anticipate,” “plan,” “predict,” “may,” “hope,” “can,” “will,” “should,” “expect,” “intend,” “is designed to,” “with the intent,” “potential,” the negative of these words or such other variations thereon or comparable terminology, may indicate forward looking statement.
Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Fertoz. These risks, uncertainties and assumptions include (but are not limited to) commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates.
Actual values, results or events may be materially different to those expressed or implied in this document. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statement in this document is valid only at the date of issue of this document.
Subject to any continuing obligations under applicable law and the ASX Listing Rules, or any other Listing Rules or Financial Regulators’ rules, Fertoz, its agents, directors, officers, employees, advisors and consultants do not undertake any obligation to update or revise any information or any of the forward looking statements in this document if events, conditions or circumstances change or that unexpected occurrences happen to affect such a statement.
Raj Shah has been a member of the InvestorIntel.com team for the last nearly 9 years. Recruited from Merrill Lynch, he has over 13 years’ ... <Read more about Raj Shah>