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Fertoz (ASX:FTZ) - Executive Chairman, Pat Avery
Executive Chairman, Pat Avery
Source: Tim Dohrmann [Twitter]
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  • Fertoz (FTZ) enters a trading halt to plan an upcoming capital raise
  • The organic phosphate fertiliser company recently laid plans to start up mining operations at its Fernie Mining Project in Canada
  • The decision follows an ongoing demand for its products which support sustainability within the agricultural industry
  • Whether the upcoming funding will support these activities is not yet certain, but the market will find out by July 8 when the trading halt will likely end
  • Company shares last traded at 25 cents on July 5

Fertoz (FTZ) has entered a trading halt to plan an upcoming capital raise.

At this stage, it isn’t clear how much Fertoz will raise or what it will use the money for.

In saying that however, the organic phosphate fertiliser company recently announced its plans to start up mining operations at its Fernie Mining Project this month.

The Canadian project is mined for rock phosphate which Fertoz uses to make organic fertilisers to support sustainability within the agricultural industry.

The company’s products are made using less than 15 per cent of the carbon dioxide emissions of typical synthetic phosphate fertiliser operations.

Since the first quarter of the year, Fertoz has received an influx of orders and contracts which have exceeded 10,000 tonnes of organic rock phosphate. The increasing demand is what prompted the company to begin mining and extraction operations at Fernie.

Whether the upcoming funding will support these operational activities is not yet certain.

The trading halt will remain in place until July 8, by which time all the details would have been released to the market.

Company shares last traded at 25 cents on July 5.

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