Great Quest Fertilizer Ltd.: Restarts Fieldwork and Discloses Import Revenue Strategy
21.09.2017 | GlobeNewswire
VANCOUVER, Sept. 21, 2017 - Great Quest Fertilizer Ltd. (TSXV:GQ) (“the Company”) is pleased to provide an update on Company progress.Field work has restarted on the Company’s Tilemsi phosphate project to upgrade and update the geological resource. Work stopped in June due to an early onset of the seasonal rains restricting access to the site with heavy equipment. The Company continues to work towards moving a portion of the current inferred resource to measured and indicated, to revalidate our economic study to submit for our mining permit. The Company is already in receipt of its environmental permits (see press release June 4, 2015).
Great Quest is in advanced discussions with an international fertilizer producer and blender to begin importation of finished fertilizer product for the Malian market. The Company can do so with the support of its off-take distribution partners (see press release September 22, 2014). Plans, if finalized as envisioned, could see the company realizing revenue in the first half of 2018.
Commenting Jed Richardson, President and CEO, “Navigating the opportunity in Northern Mali has resulted in an unconventional sequence of development for the project and the strategy of fertilizer trading allows us to realize the benefits of some of the hard work completed early on, while on the ground activities are completed. A sales track record builds our credibility with development finance lenders that we are in discussion with for the financing of our manufacturing facility, and maintains our relationship with our off-take partners. This move will put Great Quest more concretely in the food security mix in Mali and West Africa, a longer term goal of the Company.”
Readers are cautioned that no sales have been made at this time, but discussions have advanced to a stage where the shift in strategy needs to be disclosed to stakeholders.
About Great Quest
Great Quest Fertilizer Ltd. is a Canadian mineral exploration company focused on the development of African agricultural mineral projects for local production of farm ready fertilizers. The Company’s flagship asset is the Tilemsi Phosphate Project, encompassing 1,206 km² in northeastern Mali, containing high quality phosphate resources amenable to use as direct application fertilizer. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.
“Jed Richardson”
President, Chief Executive Officer and Director
For more information:
Great Quest Fertilizer Ltd.
Please call Jed Richardson at
1-877-325-3838 or
email info@greatquest.com
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties could cause actual results to vary materially from the targeted results. We seek safe harbor.
