PhosCo Secures AU$5 million Placement to Progress Gasaat Phosphate Project

PhosCo Ltd (ASX: PHO) has received firm commitments to raise AU$5.0 million (before costs) through a single-tranche placement priced at AU$0.12 per share. The capital-raising was strongly supported by new institutional investors and existing shareholders, reflecting continued market confidence amid steady project milestones and growing Western demand for secure phosphate supply.

Following completion, the Company expects to hold a pro forma cash balance of approximately AU$7.3 million, in addition to AU$1.7 million in grant funding from the European Bank for Reconstruction and Development available for drawdown. Proceeds will support exploration, development studies, and ongoing advancement of the Gasaat Phosphate Project in Tunisia, as well as general working capital, positioning PhosCo to accelerate resource growth and project de-risking initiatives.

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