PhosCo Ltd (ASX:PHO) has successfully secured AU$1,000,000 in a capital raise, receiving binding commitments from both existing and new investors for Converting Notes. The funds will primarily be allocated to on-ground exploration work at the Simitu Project, awaiting permit grant, and planning a high-impact exploration program for the Sekarna Phosphate Project.
The capital raising, led by Cumulus Wealth Pty Ltd, witnessed oversubscription and strong support, with PhosCo Executive Director Taz Aldaoud committing AU$200,000 (subject to shareholder approval). The company aims to advance its exploration program in Tunisia's Northern Phosphate Basin, emphasizing its commitment to assembling a district-scale phosphate project. The strengthened in-country relationships, particularly at the government level, signal significant progress. Shareholder approval is pending, with an expected General Meeting in early March 2024.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
