Chatham Rock Phosphate Limited
Aiming to Commence Production Next Year
Published: 11/9/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Basic Materials | Industry: Other Industrial Metals & Mining
| Metrics | Value |
|---|---|
| Current Price | US $0.12 |
| Fair Value | US $0.39 |
| Risk | N/A |
| 52 Week Range | US $ |
| Shares O/S (M) | 91 |
| Market Cap. (M) | US $11 |
| Current Yield (%) | n/a |
| P/E (forward) | n/a |
| P/B | 1.0 |
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Report Highlights
Highlights
NZP has completed a maiden resource estimate for its Korella North phosphate project, located adjacent to Incitec Pivot’s (ASX: IPL/MCAP: $4.8B) Phosphate Hill mine in Australia.
NZP has delineated a small-tonnage/low-grade resource totaling 355 Kt P2O5 at an average grade of 13%. This estimate covers 25% of the project’s area, implying that the project has potential to host up to 1.4 Mt vs management’s previous guidance of 2.5 Mt.
While we were disappointed with the maiden resource estimate, it is encouraging that management is aiming to advance the project to production within the next 12 months.
We note t
