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Canadian Phosphate Limited (ASX:CP8)

ALERT: Price-sensitive ASX Announcement for CP8
Current share price for CP8 : $0.140 0.015 (12%)+
Announcement
Release
31 Jul 2026 8:16AM
Price at Release
$0.125
Full Release
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Summary
Canadian Phosphate Limited has completed its acquisition of the Diamond Mountain Phosphate Project, located in Utah, USA. This acquisition marks a significant step in CP8's strategy to become a leading North American supplier of phosphate. The project, adjacent to a major phosphate mining operation, includes substantial measured and inferred phosphate resources. The acquisition was finalized through a combination of cash and shares. Planned exploration activities aim to expand the resource and achieve JORC-compliance, enhancing CP8's capability to supply fertilizers and battery markets in North America.
Key Points
  • Canadian Phosphate Limited (CP8) has completed the acquisition of the Diamond Mountain Phosphate Project.
  • The project is a strategic U.S. phosphate asset located near the Vernal Phosphate Mine in Utah.
  • The Diamond Mountain project includes a foreign estimate of 26.8 million tonnes of Measured and Indicated resources and 23.1 million tonnes of Inferred resources.
  • The acquisition was settled for US$250,000 in cash and approximately US$750,000 in CP8 shares.
  • Future exploration work in 2026-2027 will focus on validating and expanding the mineralized footprint to support JORC-compliance.
  • The acquisition strengthens CP8's presence in the North American phosphate market, complementing its Canadian projects.
  • The project is expected to support supply chains for fertilizers and lithium iron phosphate (LFP) batteries across North America.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.