First Phosphate files Preliminary Economic Assessment technical report for Bégin-Lamarche project

Proactive - Interviews for investors

First Phosphate CEO John Passalacqua joined Steve Darling from Proactive to share updates on the company’s Bégin-Lamarche Phosphate Project in Quebec. The company has filed its Preliminary Economic Assessment (PEA) Technical Report, outlining the potential for open-pit mining to produce phosphate concentrate and recover magnetite as a secondary product. The PEA projects an annual average production of 900,000 tonnes of beneficiated phosphate concentrate with 40% P₂O₅ content and 380,000 tonnes of magnetite with 92% Fe₂O₃ content. The mine is expected to operate for 23 years and deliver strong economic results, including a pre-tax internal rate of return (IRR) of 37.1% and a pre-tax net present value (NPV) of $2.1 billion at an 8% discount rate. These projections are based on a three-year trailing average phosphate price, with a premium for purity and supply security, and a two-year trailing average magnetite price with a similar premium. The project is also expected to generate $700 million in after-tax cash flow during the first three years of operation, with a payback period of 2.9 years post-production. Pre-tax cash flow for the same period is estimated at $783 million, with a 2.6-year payback period. Additionally, the project has no outstanding royalties or financing streams, simplifying its path to profitability. Passalacqua stated that the PEA demonstrates the strong economic viability of the project, highlighting its potential to meet global demand for high-purity phosphate and magnetite. The Bégin-Lamarche Project positions First Phosphate as a key player in the sustainable supply of critical materials for industries like fertilizers and renewable energy. #proactiveinvestors #firstphosphatecorp #cse #phos #otcqb #frspf #phosphate #GreenMining #BatteryMaterials #LFPBatteries #CleanEnergy #MiningInnovation #SustainablePhosphate #EVRevolution #NorthAmericaElectrification #ProactiveInterviews