Chatham Rock Phosphate is embarking on a new round of capital-raising in order to hold 12 months forward working capital.
As signalled in our announcement of 21 October this capital is required so Chatham, after its merger with Antipodes Gold, remains listed on the Toronto Stock Exchange. The Toronto listing is being pursued to provide a more sophisticated trading platform for Chatham shares and is expected to be welcomed by our overseas shareholders, many of whom are based in the USA.
“We believe it will facilitate fundraising in Canada, the largest mineral-resources focused marketplace,” according to Managing Director Chris Castle.
“Chatham is seeking to raise $1 million. The shares are being marketed among eligible existing shareholders, new wholesale investors and we will also be continuing to target the farming community”
The offer is priced at $NZ0.6c, a 14% discount to recent sales and is open until 30 November or until it is filled, whichever occurs first.
“This is an opportunity to invest in a company building a wider base focusing on sourcing and trading rock phosphate from several green phosphate sources. We are moving quickly away from being a single project company waiting for an environmental consent and taking more control of our destiny.”
Following the latest capital-raising among existing shareholders, interests associated with the directors and management are now Chatham’s largest shareholders, with New Zealand farmers and hundreds of other Kiwis owning more than half the company.
Mr Castle said the offer is being marketed as an opportunity to own, via Chatham, a growing global network of independent sources of low cadmium, low carbon footprint, reactive rock phosphate.
Individuals wishing to take advantage of this offer should contact Mr Castle by email at firstname.lastname@example.org or mobile (021 558 185) in order to receive an application form. Application forms can also be downloaded from the home page at www.rockphosphate.co.nz
About Chatham Rock Phosphate
Chatham Rock Phosphate has redefined its goals and objectives. Chatham aims to be the premier supplier of direct application phosphate to the New Zealand and global agricultural sector. We are passionate about the benefit of direct application fertiliser to sustainable farming and agricultural practices. Our objectives are to:
• Achieve consent of the Chatham Rise project and develop the asset
• Diversify our product mix to include other onshore phosphate resources
• Maintain our involvement at the forefront of the marine minerals sector to leverage our expertise as a project pioneer
• Develop a pathway for CRP products for the agricultural and retail sectors.