Aguia Resources (ASX:AGR) last traded at $0.17 before the company called a trading halt, which is about five-times higher than the mid three cent range at the start of 2015.
Aguia is focussed on Brazilian fertilizer, with the country totally reliant on imports.
The country is the fourth largest consumer of fertilizer but only has 4% of global production.
Brazil is the world’s fastest growing fertilizer market and third largest agriculture exporter.
Aguia's flagship Rio Grande do Sul phosphate projects exhibit high quality and low cost production characteristics.
Its JORC Indicated and Inferred resource expanded by 130% in 2015 to 70.1 million tonnes at 4.20% P2O5. The breakdown is 15.2 million tonnes Indicated and 54.9 million tonnes Inferred.
Aguia is now heading to market with a material capital raising.
The halt will remain in place until the opening of trade on Wednesday 26th August 2015, or earlier if an announcement is made to the market.
Aguia Resources (ASX:AGR) last traded at $0.17 before the...
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