WELLINGTON, New Zealand, Sept. 1, 2017 /CNW/ - Chatham Rock Phosphate (NZ: CRP, TSX.V: NZP) ("CRP" or "the Company") provides a further shareholder briefing. A lot has happened since our last update was published and it's timely to provide another informal update on recent events.
Events of note include:
What's coming up?
Chatham is about to launch various fund-raising initiatives including the likelihood of an offer to our existing ~ 1,500 shareholders. This will enable our legions of Mum and Dad investors to participate once again and will be the eighth such issue offered to our loyal supporters since 2010. Other funding will be sought, probably by means of private placements, in Asia, Europe and Canada.
We will once again be presenting (this time two papers) at the Mecca of the marine mining world, the annual Underwater Mining Conference being held this year in Berlin. Our presence there will dovetail nicely into local fundraising-related activities and a media campaign including Swiss based TV coverage.
And while talking about media, Chatham will be a key topic of an upcoming article in Resource World, a Vancouver based publication that is widely distributed in international mining and investment circles.
Operationally, this month we kick off the marine consent reapplication process with the momentum expected to build over the next 15 months. All going well we are targeting a reapplication date in late 2018.
There is also likely to be an increasing focus on securing marine phosphate opportunities offshore, to an extent depending on evolving permitting regimes in our targeted region. As we have indicated previously we are also interested in on-shore deposits with a preference for reactive-phosphate-rock style mineralisation. Both of these initiatives are likely to involve low upfront costs even if they do proceed and will not divert funding from our principal objective, that of gaining the Marine Consent on our second try.
In parallel with those activities Chatham has commissioned research aimed at separating valuable by-products that are also contained within the sandy seafloor matrix that contains the rock phosphate deposit. As our recovery process is already bringing these sands up to the vessel there is no mining cost involved, merely the costs of separating these by-products from the sand before it is returned to the sea-floor. Successful recovery of even a tiny proportion of these by-products could add significantly to our future revenue and profitability. Chatham is seeking independent funding to assist with this research.
A reminder about our environmental and other benefits
You can be our advocates whenever our project is raised in conversation.To remind you why the Chatham Rise project remains hugely important for New Zealand, here are the key reasons:
The following graphic outlines these and other key benefits. See also our online interactive infographic at http://www.rockphosphate.co.nz/projectinfographic
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SOURCEChatham Rock Phosphate
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