12 May 2022 announcement agreed to trial shipment only, with...

12 May 2022 announcement agreed to trial shipment only, with first right of approval for 20% of 3 years worth of future production :

The agreement covers the sale of a 5,000 wet tonnes beneficiated phosphate rock trial shipment to Ballance and includes a first right of refusal to purchase 20% of the Ardmore mine’s annual production for the first three years (Available Production).

The agreement includes a first right of refusal to Ballance to purchase up to 20% of the production at Ardmore (First Right) under a three-year offtake agreement (Offtake Agreement). The First Right is exercisable within 60 days of Agriflex providing notice of its good faith estimate of Available Production for a three-year period.If Ballance does not elect to exercise the First Right within the timeframe, then the First Right will lapse for the Available Production and Ballance will have no further obligation to Agriflex under the agreement.




balance have presumably liked what they saw in the trial shipment and have now agreed to take on the 20%. Another tick of approval.

price as per today's announcement is:



Price per tonne in USD to be agreed between the parties within 45 days prior to each Quarter for the following Quarter, with market price as a reference point in negotiations