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First Phosphate Corp (FRSPF) is a mineral development company focused on extracting and purifying phosphate for Lithium Iron Phosphate (LFP) battery production. The company holds over 1,500 sq. km of land claims in Quebec, Canada, rich in rare anorthosite igneous phosphate rock. Their commitment is to produce high-purity phosphate material for the LFP battery industry, ensuring a low carbon footprint and responsible production.
First Phosphate's recent achievements include signing a collaboration agreement with Pekuakamiulnuatsh Takuhikan, a First Nation group, for a phosphate mine and LFP cathode project in Quebec. The agreement outlines employment opportunities, environmental protection, and financial participation. The company aims to integrate into the regional battery industry with the support of indigenous communities.
In addition, First Phosphate has plans to establish a Rapidwall Manufacturing Plant for upcycling phosphogypsum into building material panels, further promoting sustainability. With recent recognition of phosphorous as a critical mineral in Canada, First Phosphate is well-positioned to contribute to North America's electrification needs through its innovative projects and commitment to a circular economy.
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First Phosphate Corp. successfully transforms high purity phosphate concentrate into battery-grade purified phosphoric acid for the lithium iron phosphate battery industry. Prayon Technologies SA completes the process to produce purified phosphoric acid conforming to food grade/battery-grade specifications. The company is now ready to produce LFP cathode active material and battery cells from a North American source of battery-grade PPA.
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First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) will address the Federation of Chambers of Commerce of the Saguenay-Lac-Saint-Jean Region of Quebec on February 8, 2024. The company aims to outline its industrial and drilling plans for the season at its Bégin-Lamarche project and explain the importance of the lithium iron phosphate battery for the energy transition. CEO John Passalacqua highlights the need for domestic production of high-purity phosphate in the region, emphasizing its potential to become a catalyst for a new green industry. The company also plans to support the local economy, stimulate investment, and create employment opportunities while working internationally to leverage phosphate expertise.
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First Phosphate Corp. (FRSPF) announces a 25,000 m drill program at its Bégin-Lamarche Project following a recent financing raising $8.2 million. The Company aims to calculate a maiden NI 43-101 resource estimate leading to a PEA. Proximity to the deep-sea port of Saguenay and access to infrastructure and workforce make the project economically viable. The extensive drill program is intended to accelerate development, with the Company having existing drill permits and requesting additional permits for expansion.
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First Phosphate Corp. (FRSPF) has confirmed a new high-grade phosphate discovery in the Bégin-Lamarche project in Quebec, Canada. The Larouche area returned high-grade analyses with one sample grading as high as 39.45% P2O5, making it direct shipping ore. This is a significant development for the company's mining operations.
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First Phosphate Corp. (FRSPF) has announced a multi-party agreement with American Battery Factory Inc. and Integrals Power Limited to produce lithium iron phosphate (LFP) cathode active material (CAM) and LFP battery cells in North America. The LFP Project America aims to localize the entire production supply chain of LFP CAM and LFP battery cells storage devices for the battery storage sector to North America. The initiative is to support ABF's eventual need for up to 40,000 tonnes of annual fully localized LFP CAM for LFP battery cell production in North America by 2028.
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First Phosphate Corp. announces the Quebec Minister of Natural Resources and Forests has updated the Quebec list of critical and strategic minerals to include phosphate, acknowledging the potential of Quebec igneous anorthosite phosphate rock for the electrification needs of North America. The company aims to develop an LFP battery valley in the Saguenay-Lac-St-Jean region of Quebec to meet the future demand for LFP battery cathode active materials across North America.
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First Phosphate Corp. closed a non-brokered private placement financing for gross proceeds of $8,223,475.20, allowing them to drill and uncover the full extent of the Bégin-Lamarche high-purity igneous rock phosphate horizon. The offering was oversubscribed by a factor of 311%, with institutional investors showing confidence in the company's potential. The company also approved the grant of 360,000 restricted share units to an eligible consultant.
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First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) has signed a memorandum of understanding with Ultion Technologies Inc for the purchase of a non-exclusive, perpetual license to technology for the production of lithium iron phosphate and lithium iron manganese phosphate cathode active material. The market value of 50,000 tonnes of LFP CAM can be estimated from USD $625,000,000 to USD $1,250,000,000 based on recent market price ranges. The agreement provides proven, commercial-grade LFP production technology, reducing technology risk and allowing diversification of industry exposure. Ultion will also provide equipment acquisition and installation, engineering support, equipment design, start-up, and personnel training. The MOU with Ultion, together with the MOU with American Battery Factory, provides First Phosphate with a total minimum offtake potential of 46,000 tonnes of LFP CAM to be fulfilled slowly starting in 2026 and ramping up by 2028/2029.
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First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) has signed a memorandum of understanding with Lithium Australia Limited (ASX: LIT) for the potential development of a lithium iron phosphate and lithium manganese iron phosphate cathode active material manufacturing plant in North America. The agreement includes provisions for technology sharing, joint development, funding, and off-take agreements. LIT has a conditional first right of refusal for offtake of up to 30% of spodumene produced by the Lake Johnston Lithium Project.
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First Phosphate Corp. (CSE: PHOS) (OTC Pink: FRSPF) (FSE: KD0) applauds proposed guidance on the clean vehicle provisions of the Inflation Reduction Act ('IRA') as released by the U.S. Department of the Treasury. The company is working on building a fully localized phosphate mine to finished lithium iron phosphate ('LFP') battery industry supply chain in North America and is well advanced in this goal. The US administration's new guidance closes loopholes for foreign entities and introduces requirements for vehicle prices, which is expected to benefit the LFP battery chemistry and promote automotive manufacture and assembly back to America.
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FAQ
What is the current stock price of FIRST PHOSPHATE (FRSPF)?
The current stock price of FIRST PHOSPHATE (FRSPF) is $0.18115 as of December 20, 2024.
What is the market cap of FIRST PHOSPHATE (FRSPF)?
The market cap of FIRST PHOSPHATE (FRSPF) is approximately 11.6M.
What is First Phosphate Corp focused on?
First Phosphate Corp is focused on extracting and purifying phosphate for the production of cathode active material for Lithium Iron Phosphate (LFP) batteries.
Where does First Phosphate operate?
First Phosphate holds over 1,500 sq. km of land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada.
What recent collaboration has First Phosphate announced?
First Phosphate announced a collaboration agreement with Pekuakamiulnuatsh Takuhikan, a First Nation group, for a phosphate mine and LFP cathode project in Quebec.
What is the significance of phosphorous being recognized as a critical mineral in Canada?
The recognition of phosphorous as a critical mineral in Canada highlights its importance in the country's mineral resources and strategic value for sectors like battery production.
How does First Phosphate contribute to sustainable development?
First Phosphate plans to establish a Rapidwall Manufacturing Plant for upcycling phosphogypsum into building material panels, promoting sustainability and circular economy practices.
FIRST PHOSPHATE CORP
OTC:FRSPF
FRSPF Rankings
FRSPF Stock Data
11.63M
46.15M
United States of America