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  • 3 weeks later...

In reply to: ShareScene.com on Tuesday 10/06/08 06:23pm

Anyone apply for this IPO and get an allocation?


Lead broker was Bell Potter and was heavily oversubscribed.


Prospects look excellent I feel and one of the directors is Jim Richards ex UMC who initially discovered UMC's Railway deposit

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In reply to: fingermark on Saturday 28/06/08 11:35am


I have nothing but admiration and respect for Jim Richards.


I should think shareholders on the HMS POZ will sleep well at night knowing who their captain is.


I hope the market marks the IPO debut today accordingly.



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Friday, January 29, 2010

Phosphate Australia receives positive news on 3mtpa slurry pipeline initiative

Phosphate Australia (ASX: POZ) said it had received a positive outcome from a study to transport up to 3 million tonnes per annum of phosphate product via slurry pipeline from Highland Plains to the Gulf coast - at very low transport costs.

The project is located within EL 25068 abutting the NT border with Queensland and 230 km from the Gulf of Carpentaria.

Transport costs were estimated from only A$2.06 to $3.69 per tonne (pipeline operating costs only). It said these very low transport costs completely changed the potential economics of the Highland Plains phosphate project both in terms of scale and operating costs.

Metallurgical flotation test results were also very positive from the coarse and fine fractions with continuing improvement in recoveries.

These slurry pipeline opportunities and results were as a result of the excellent water drilling results announced on 7 December 2009. And that not all phosphate projects are as well endowed with water as Highland Plains.

Scoping level capital expenditure estimates to build such a pipeline are estimated at $184 to $226 million depending on option selection. This does not include the mine-site preparation plant or dewatering plant at the barge site.

For a 3 mtpa operation these capital costs appeared to be realistic.

A barging and storage facility will also be required on the Gulf coast and the company is studying these requirements. Road transport alternatives are still possible for transporting phosphate product. However, the slurry pipeline options are now being more actively pursued due to this low OPEX opportunity presented to the company.

The company will commence resource drilling in early April at Highland Plains in support of the 3mtpa objective. This program will involve both PQ core and RC drilling and will allow the construction of a detailed resource model over the entire Highland Plains project area.

Upon completion of this program an updated resource estimate will be calculated by POZ's independent consultants, Cube Consulting.

The Company had $6.95 million cash on hand as at the end of the December quarter.


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