Taz Aldaoud

PhosCo Ltd announced activity and cash flow report for the quarter ended 31 March, 2022.

The company announced a resource increase of 50% at KEL deposit to 55.5MT whilst maintaining a high grade and upgrading of Inferred Resources to Measured and Indicated Resources for the Chaketma Phosphate Project.PhosCo also announced excellent metallurgical results of advanced bulk tonnage tests completed in 2017.

On the corporate side of operations, PhosCo announced a Tranche 2 Placement of $1m was received during the quarter completing a $3.2m placement. PhosCo also held cash of approx. $2.5m at the end of the quarter.

Following the announcement the company?s share price rose 3.23%.

The company?s share price is up 100% YTD.