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Positive PEA for Ontario Phosphate Project

Stockhouse Editorial
1 Comment| April 22, 2022

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(Map via Fox River Resources Corporation. Click to enlarge.)

Fox River Resources Corp. (CSE: FOX, Forum) released positive results of a Preliminary Economic Assessment (PEA) and updated Mineral Resource Estimate (MRE) for its 100%-owned Martison Phosphate Project located near Hearst, Ontario, this week.

The proposed project is a mining and fertilizer complex utilizing an igneous phosphate deposit. The PEA examined the types and quantities of fertilizers which will be produced, the process technology deployed, and the sulfur technology utilized in making fertilizer products from the phosphate concentrate.

Martison Phosphate Project highlights:

  • At current prices, the PEA defines a pre-tax NPV 8% of $3.53 billion (USD) and IRR of 26.8% with an after-tax payback period of four years and after-tax NPV 8% of $2.51 billion (USD) and IRR of 23.1%
  • Base case economics outline a pre-tax NPV 8% of $2.14 billion (USD) and IRR of 20.2% with an after-tax payback period of 5.2 years and after-tax NPV 8% of $1.47 billion (USD) and IRR of 17.4%
  • Compelling economics at 30% below base case prices, delivering a pre-tax NPV8% of $457 million (USD) and IRR of 10.9%.
  • Life of Project Revenue of $20.55 billion (USD) and cash flow of $6.46 billion (USD) at base case pricing

For more on this news, click here.



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Comments

You can watch an interview with the CEO here. He has over 9 million shares-- close to 20% and works for a below market wage. The company has no debt. https://www.youtube.com/watch?v=-612o85UteM
(1)
April 27, 2022

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