DuSolo Obtains All Mining Permits and Commences Production of Direct Application Natural Fertilizer
October 14, 2014 (Source: Marketwired) — Editor’s note: There is one photo associated with this press release.
DuSolo Fertilizers Inc. (TSX VENTURE:DSF)(PINKSHEETS:ELGSF)(FRANKFURT:E6R) (“DuSolo” or “the Company”) is pleased to announce it has received the Mining Permit (“GU” – Guia de Utilização) required to begin extracting and processing high-grade phosphate discovered at the Santiago target into Direct Application Natural Fertilizer (“DANF”) – a fertilizer product highly popular amongst farmers and agricultural centers within close proximity to the Bomfim Project. The GU is the last of a series of permits and licenses the Company had to obtain in order to commence production of DANF.
“We now have all the elements in place to deliver on our goal of becoming a phosphate producer in arguably the world’s hottest fertilizer market. Our processing facility is operational and permitted, we are fully funded, and we have received all the necessary licenses. The Company is therefore well positioned to commence DANF production effective immediately,” commented Eran Friedlander, President and CEO of DuSolo.
The following permits required for DANF production have now all been obtained:
-DANF Processing Facility Environmental License (Licença Ambiental)
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-DANF Processing Facility Operating License (Licença de Funcionamento)
-Mining Site (Santiago Target) Operational License (Licença de Operação)
-Mining Permit (Guia de Utilização)
EXTRACTION AND PROCESSING
In light of today’s news, DuSolo has now begun extracting and processing the high-grade phosphate discovered at Bomfim’s Santiago target. The area selected to commence the extraction is located over hole STW-RC-25, that returned 15 meters @ 19.92% P2O5 (from surface and open at depth). The mineralization is outcropping and the topography is favorable for an open pit operation. The ensuing beneficiation process is very simple involving a series of crushers, screens and mills through which DuSolo intends to process the high-grade phosphate into three (3) DANF products of different phosphate grades (12%, 15%, 18% P2O5). The DANF is then sold to local farms and agricultural centers in the vicinity of the project’s area. DANF is used alongside the standard and more costly Nitrogen, Phosphate and Potash (“NPK”) blend to compensate for elevated nutrients’ depletion as a result of heavy tropical rainfalls. Farmers in the region have become accustomed to using DANF on their crops over the past several years but due to recent restrictions in supply, are no longer able to source it locally. DuSolo, as a result of its high-grade discovery, intends to fill the current void in this rapidly expanding marketplace by providing farmers with a local alternative source of supply for years to come.
SALES & MARKETING
The Company has already begun approaching farms and agricultural centers in the vicinity of the project area as part of a marketing campaign aimed at securing orders for the remaining 2014 planting season (August to November) and the upcoming 2015 planting seasons (February to April & August to November). The Company believes that its strategic location and its ability to competitively price its products will enable it to capture a significant share of this rapidly expanding market in the coming years.
ABOUT THE COMPANY
DuSolo Fertilizers Inc. is focused on developing a fully integrated process to produce phosphate based fertilizers within the Cerrado region of Brazil as part of a nationwide effort, incentivized by the government, to increase supply of domestically sourced fertilizers and achieve agricultural self-sufficiency.
The Company’s shares are publicly traded on the TSX Venture Exchange under the symbol DSF, on the OTC Pink Sheets under the symbol ELGSF and on Frankfurt Stock Exchange under the symbol E6R.
On behalf of the Board of Directors
DuSolo Fertilizers Inc.
Eran Friedlander, President
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward-looking statements contained in this press release may include statements regarding the future operating or financial performance of DuSolo which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and DuSolo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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