First Phosphate Corp. C.PHOS

Alternate Symbol(s): FRSPF

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, in responsible manner, and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.

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First Phosphate Corp. > Receives Letter of Interest in the Amount of up to US$170 M

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Comment by tweezer1957on Oct 02, 2023 8:41am

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Post# 35664611

RE:Receives Letter of Interest in the Amount of up to US$170 M

Well on the surface this looks like blockbuster news but.
EXIM is a bank similar to the EDC. It is a financial institution that looks to lend money at a price. A letter of interest is just that a letter of interest. So what does PHOS have. The opportunity to ask for money. It looks good but it means nothing.
If they actually sign that will be blockbuster news. Also ask yourself what could they guarantee 170 million with. They do not have those kind of assets.

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