First Phosphate Corp C.PHOS

First Phosphate and Lithium Australia Sign MOU

[Betteryear2]

Saguenay, Quebec--(Newsfile Corp. - December 6, 2023) - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it has signed a memorandum of understanding ("MOU") with Lithium Australia Limited (ASX: LIT) ("LIT") for the potential development of a lithium iron phosphate ("LFP") and lithium manganese iron phosphate ("LMFP") cathode active material ("CAM") manufacturing plant in North America.

First Phosphate and Lithium Australia Sign MOU for Joint Development of an LFP / LFMP Pilot and Commercial Plant (newsfilecorp.com)

[tweezer1957]

On the surface great news. major achievment for management. I keep saying management is smart but read the article. First Phosphate stock opened 2.5 per cent higher, trading at $0.35 per share and has gained 30.5 per cent over the past month. Lithium Australia opened 12 per cent lower to trade at $0.01 per share. At .01 per share and the market cap of PHOS these guys will not even be able to buy

[ggrellette]

Looks like the market does not agree with you about this company at this moment in time. The market believes they will get financing.

[tweezer1957]

First off I always say management is smart but SELL INTO STRENGTH. Note from filings the company has very little money about half million which will not take long to eat into. They have signed three MOU docs. They plan to build a plant with LIT who has even less money than them. A plant to supply or build with for Sun Chemicals. And ABF will need product by 2026. PHOS does not even have a