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PhosCo Ltd (ASX:PHO)

ALERT: Price-sensitive ASX Announcement for PHO
Current share price for PHO : $0.165 0.01 (6.45%)+
Announcement
Release
19 Jun 2026 9:39AM
Price at Release
$0.155
Full Release
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Summary
PhosCo Ltd has announced receiving a $1.1 million grant instalment from the European Bank for Reconstruction and Development (EBRD) to support its Gasaat Phosphate Project. In addition, the company secured $600,000 from the early exercise of options by shareholders, reflecting confidence in PhosCo's strategy. With $5.7 million in cash reserves as of March 31, 2026, PhosCo is well-positioned to advance its project and exploration programs. An Updated Scoping Study is underway, aiming for a Q3 2026 release, with the EBRD's support being crucial for ongoing work.
Key Points
  • PhosCo Ltd received a $1.1 million grant instalment from the European Bank for Reconstruction and Development (EBRD).
  • An additional $600,000 in funding was obtained from the early exercise of options by shareholders.
  • PhosCo Ltd is advancing its flagship Gasaat Phosphate Project towards key development milestones in 2026.
  • The company is well-funded with $5.7 million in cash as of 31 March 2026, plus the EBRD grant and option conversions.
  • PhosCo is working on an Updated Scoping Study for the Gasaat project expected to be released in Q3 2026.
  • The EBRD's grant has been instrumental in funding PhosCo's on-going work program.
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.