DuSolo Fertilizers Inc. has provided an update on its corporate activities, exploration and permitting status, product development, new management appointments and the re-start of extraction operations at the Santiago Project. The Company has been undergoing a restructuring of its operations in Brazil and Canada.
The company's assets consist of a number of exploration concessions in Tocantins State (totalling 54 073 hectares) containing phosphate rock deposits, and the Company also owns and operates the Santiago Project, located in Tocantins State, with a crushing/milling/screening plant located near the town of Campos Belos, just south of the Tocantins border in Goias State. The Company produces a Direct Application Natural Fertilizer (DANF) sold to local farmers and large agricultural companies.
The Company recently completed delivery of all stockpiled phosphate material at the Campos Belos plant, and given existing sales contracts and customer demand, has re-started extraction operations at the Santiago Project. This material will provide DANF for customer deliveries in 2016 and through to mid-2017. The Company is not basing its production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, as a result there is increased uncertainty and economic and technical risks of failure associated with its production decision. The Company is currently finalising a Preliminary Economic Assessment (PEA) of DANF production - please see the section of this release entitled "Technical Reports".
The Company continues to focus on cost reduction and completed the consolidation of its management and technical team in the Belo Horizonte office.
Read the article online at: https://www.worldfertilizer.com/phosphates/24112016/dusolo-provides-corporate-update/