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mattroberts9

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12/04/22

16:44

Post #: 60812315
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Originally posted by AuHunter98: ↑

Sure is. The reason for the dispute was their 51% interest was stolen. They got that back last year. Then on top of that they obtained board control. So that’s how they’ve managed to get the ball movingand progress the project. Looks like a lot of work has been done in the meantime judging from the KEL resource increase and the ‘excellent’ metallurgical results. Then on top of all that they are owed US$5m by the JV partner in damages which hasn’t been paid, which is what’s allowed them to seize the partner’s interest. If that comes through, that will take their asset ownership to 100%.

Quite extraordinary really. You don’t often see a company fall victim to this sort of thing, then see them end up in an even better and stronger position afterward. Says a lot about the persistence and tenacity of the people involved. To have all of this come together while phosphate is breaking decade highs is really something. Talk about timing. All the old announcements are on their website. They seem to be quite active on LinkedIn too if you have the app, worth following.

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PHO Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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Thanks for the info, appreciated!

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