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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Itafos Inc | TSXV:IFOS | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 0.74% | 1.37 | 1.35 | 1.40 | 1.37 | 1.37 | 1.37 | 8,500 | 20:59:56 |
Subsequent to the Company’s announcement of the results of the Itafos Conda Technical Report, certain of the previously announced Mineral Resource estimates related to Itafos Conda’s existing mines, including Rasmussen Valley Mine (“RVM”) and Lanes Creek Mine (“LCM”), have been converted to Mineral Reserve estimates totaling 14.4 million short tons (equivalent to 13.1 million metric tonnes) at approximately 26.6% P2O5. These Mineral Reserve estimates are expected to extend Itafos Conda’s mine life through mid-2026, which represents an additional one and a half to two years of mine life over Itafos Conda’s historical internal estimates.
Summary of Mineral Reserve Estimates
Property | Classification | Short Tons (Mt, dry) | P2O5 (wt.%) | Waste (MBcy) | Strip Ratio (MBcy:Mt) |
RVM | Probable | 0.9 | 26.6 | n/a | n/a |
Proven | 11.2 | 26.6 | n/a | n/a | |
Total | 12.2 | 26.6 | 50.0 | 4.1 | |
LCM | Probable | 0.3 | 28.8 | n/a | n/a |
Proven | 0.5 | 28.0 | n/a | n/a | |
Total | 0.8 | 28.3 | 1.9 | 2.4 | |
RVM + LCM | Probable | 1.2 | 27.1 | n/a | n/a |
Proven | 11.7 | 26.7 | n/a | n/a | |
Total | 13.0 | 26.7 | 51.9 | 4.0 | |
Stockpiles | Proven | 1.4 | 25.9 | n/a | n/a |
Total Reserves | Total | 14.4 | 26.6 | n/a | n/a |
Notes:
Qualified Persons Statement
The responsible Qualified Person, as defined by NI 43-101, who has reviewed and consented to the use of extracts from, or a summary of, the parts of the Itafos Conda Technical Report for which he is responsible contained in this news release is Edward Minnes. Mr. Minnes is a Professional Engineer (P.E) licensed by the State of Missouri, US and has sufficient experience to the subject matter of the Itafos Conda Technical Report to qualify as a Qualified Person as defined by NI 43-101. Mr. Minnes is a full-time employee of Golder and is independent of Itafos and its affiliates.
About Itafos
The Company is a vertically integrated phosphate fertilizers and specialty products company with an attractive portfolio of long-term strategic businesses and projects located in key fertilizer markets worldwide.
The Company owns, operates and is developing the following businesses and projects:
For more information, or to join the Company’s mailing list to receive notification of future news releases, please visit the Company’s website, www.itafos.com.
Forward Looking Information
Certain information contained in this news release constitutes forward looking information. All information other than information of historical fact is forward looking information. The use of any of the words “intend”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “would”, “believe”, “predict” and “potential” and similar expressions are intended to identify forward looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. No assurance can be given that this information will prove to be correct and such forward looking information included in this news release should not be unduly relied upon.
Forward looking information is subject to a number of risks and other factors that could cause actual results and events to vary materially from that anticipated by such forward looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to, those risk factors set out in the Company’s Management Discussion and Analysis and other disclosure documents available under the Company’s profile at www.sedar.com. Readers are cautioned that the foregoing list of risks, uncertainties and assumptions are not exhaustive. The forward-looking information included in this news release is expressly qualified by this cautionary statement and is made as of the date of this news release. Itafos undertakes no obligation to publicly update or revise any forward-looking information except as required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please contact:
Itafos Investor Relationsinvestor@itafos.comwww.itafos.com
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