Australia's PhosCo rises on scoping study results on Tunisia project

Phosco

09/12/2022 03:41

** Shares of PhosCo Ltd  PHO.AX  rise as much as 10.0% to
A$0.138, their biggest intraday pct gain since Oct. 31
    ** Phosphate explorer says scoping study done for its
Chaketma Phosphate Project in Tunisia confirms outstanding
economics
    ** Adds strong financial returns, with after-tax net present
value of $657 mln
    ** Further adds after-tax internal return of rate of 54% and
payback of 1.5 years from commercial production
    ** Co assumes total revenue $10.1 bln at $150 per tonne free
on board North Africa phosphate concentrate under the study
    ** Phosphate explorer adds development capital of $170 mln
under the study
    ** Stock posts its highest since Nov.28; more than 861,000
shares change hands, vs 30-day average of 101,000 shares
    ** Stock has risen 35.87% this year, as of last close
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))