Quarterly Activities Report September 2015
Perth, Oct 30, 2015 AEST (ABN Newswire) - Phosphate exploration and development company, Fertoz ("Fertoz" or the "Company", 
ASX:FTZ) is pleased to provide an update of activities during the September 2015 quarter.
HIGHLIGHTS
- Appointment of Stephen Keith as Managing Director
- Meetings with potential long-term off-take partners
- Working with existing marketing agents to increase number of trials and tests
- Sourcing equipment and contractors required to begin commercial production at Wapiti in H1 2016
Commenting on the achievements, James Chisholm, the chairman of Fertoz stated:
"This quarter has been a period of transition for the Company. We have appointed a new Managing Director, Mr Stephen Keith, and re-focussed our activities back on the largest organic market in the World, the United States of America, and Canada, the world's fourth largest organic market. We believe that this revised focus on near-term cash flow from low capital intensity projects, such as our phosphate projects in British Columbia, Canada, will provide long-term sustainability for Fertoz and a platform from which to grow through exploration and development of our Canadian assets. Our phosphate trading business in the Australian market will take more time to prove out into a viable business and, as such, the Board has elected to stay focussed on the exploration and development of its fertiliser resources in Canada and the USA. During the quarter, we have progressed these projects and look forward to meeting our targets in the near future."
SUMMARY
Canada
- Additional orders received for the Fertoz direct application rock phosphate in Alberta;
- Trials of the Company's direct application rock phosphate have continued, with favourable results (See Figure 1);
- Sourcing of equipment for both Wapiti and for the Company's distribution points in Stettler and Grande Prairie, Alberta has commenced;
- Ordering of equipment expected over the next quarter;
- New tests and trials are being initiated.
USA
- In July the US Bureau of Land Management and the US Forestry Service both gave approval for Fertoz to undertake exploration of the Dry Ridge project in Idaho;
- Exploration plan and budget have been developed for Dry Ridge following the approval of the Dry Ridge project for exploration;
- Fertoz intends to seek a joint venture partner to fund the proposed exploration programme;
- No work is anticipated at Dry Ridge in the coming quarter.
Australia
- Sales revenue year to date reached $133,000 at the end of the quarter;
- Distribution network extended to include Norco Cooperative Ltd and Alternative Growing Solutions;
- Product awareness raised through farmer meetings, store promotions, selective advertising ;
- Spring promotion with discounted pricing to accelerate sales;
- Moving forward, the plan with the FertAg business in to:
o Cut internal costs and budgets to ensure FertAg is cash flow neutral to Fertoz;
o Focus on testing and trials in order to prove the product's value in the Australian agricultural market and to slowly build sales over the next 18 months.
Planned Activities for December Quarter 2015
- Order equipment for Wapiti Mine construction;
- Order equipment for distribution centres to allow for increased product sales;
- Increase number of marketing and distribution agents in Canada;
- Focus on product production and sales to target H1 2016 production.
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-FTZ-888771.pdf
About Fertoz Ltd
Fertoz (ASX:FTZ) is an Australian-based phosphate exploration and development company with a range of projects in British Columbia, Canada as well as Queensland and the Northern Territory. The Company is focused on becoming a fertiliser producer as quickly as possible, initially focusing on the Canadian/USA markets.
Fertoz plans to develop its exploration assets in Canada in order to identify any potential Direct Shipping Ore (DSO) projects. It intends to seek joint venture partners to assist in funding the exploration projects in Australia.
Phosphate is a commodity necessary for feeding the world, and Fertoz is ready to capitalise on this growing demand.
| ||
|
