Media Coverage: Farmers Weekly - Chatham Rock turns to on-land mining
/Chatham Rock Phosphate is raising close to $2 million from a private placement of up to 10 million units for further work on two phosphate projects in French Polynesia and Queensland.
With its proposed undersea mining of the Chatham Rise stalled in the water, the listed company has turned to the Polynesian island of Makatea and to the Korella deposits in northwest Queensland, near Mt Isa.
The prospects of the company have lifted considerably with international phosphate prices at 10-year highs, chief executive officer and founder Chris Castle says.
Its share price on the NZX has risen by 10c or 80% from 12c to 22c since Christmas.
Media Coverage: Superbcrew - Chatham Rock Phosphate Limited Private Placement
/Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “CRP” or the “Company”) wishes to announce that the Company is proceeding with a non-brokered private placement (the “Placement”) of up to 10,000,000 units (the “Units”) at a price of CAD $0.17 per Unit (NZ$0.195) for gross proceeds of up to CAD $1,700,000 (NZD $1,900,000).
CRP shares have had strong investor support following recent announcements by the Company relating to the acquisition of the Korella mine, the application for an exploration permit and at Korella South, and the proposed establishment of a dicalcic phosphate manufacturing plant.
Media Coverage: Daily Company News - Shares Of Chatham Rock Phosphate Trading At Much Higher Levels In Canada And Germany
/Letter from Chris Castle, CEO Of Chatham Rock Phosphate Limited:
The Directors of Chatham Rock Phosphate note that our shares have been trading around 15-16 cents in NZ, but are trading at higher prices in our two overseas market listings.
In Canada on the TSX.V they traded today in a range of CAD 21-24 cents with total reported volume of 423,800 shares . CAD 24 cents is the equivalent of NZD 28.2 cents.
In Germany on the Frankfurt Bourse they are trading at 0.176 Euros, the equivalent of 25.3 NZD cents.
We confirm that all three markets are fully and equally informed except that New Zealand investors might not be aware of the stronger investor interest offshore.
It appears that overseas investors have been quicker to gain an understanding of the transformation that Chatham has achieved during the last twelve months.
We are no longer a single project company needing to overcome a permitting hurdle in order to put the Chatham Rise project into production, the group now encompasses a rapidly expanding group of onshore phosphate and rare earths projects in French Polynesia and Australia which are much closer to generating operating cash flows. We expect to generate operating revenues from Korella in calendar 2022.
Written by:
Chris Castle
Chief Executive Officer
Chatham Rock Phosphate Limited
Cell: +64 21 558 185
+64 21 5581985
chris@crpl.co.nz
PhosphateKing