phosphate float 170mt jorc

I'm posting this here given DGR's eventual holding in this company. Hope the DGR thread doesn't mind.

Mt Isa Metals listing circa August:

- Phosphate resource of 170MT inferred @ 16%P2O5 (110MT@ 18%P2O5) directly adjacent to Legend's resource.

- Low strip ratio, shallow deposit (7-10m)

- Deposit open: high probabilty of resource size and grade upgrade

- Feasibility studies were done 30 years ago with extensive technical beneficiation tests performed indicating that a marketable concentrate could be produced at an average concentrate grade of 35%. This was using far older and less sophisticated beneficiation techniques which would imply that using modern methods and with current phosphate prices this deposit has a very high chance of being commercially exploitable.

Resource is JORC'ed, company MD is ex-WMC and a geologist, close to adjacent Legend phosphate project and close to infrastructure - seems to tick all the boxes for me.

DYOR but check out how POZ has performed. This resource is lower grade for now but I'd expect it to be upgraded as infill drilling is performed and the cutoff grade increased. Less than half the tenement has been drilled and there is potential to upgrade the size of the deposit by 50%-100%...

This should be a good buy on the first day if POZ is anything to go by. Mainstream media coverage on subsequent days post listing has pushed POZ from a 55c first day to 80c today.

Cheers
UIO