Thought I might try a little ramping: From the company's (MET) prospectus:
"The D-Tree West Project comprises a single tenement application (ePMA 15763) located 120km north-north-west of Mount Isa. The tenement overlies the western portion of the D-Tree phosphate deposit discovered by IMC Development Corporation (IMC) in the mid 1960s. Phosphate mineralisation is hosted within Cambrian age sediments of the Beetle Creek Formation which outcrop along the western edge of the Georgina Basin, a major sedimentary basin that hosts Australia’s most economically significant phosphate deposits. The D-Tree deposit was subject to extensive technical studies in the 1960s and 1970s including the completion of 148 drill holes by IMC over the entire deposit (approximately 50% of which is outside the Company’s tenement). An Inferred Resource of 170Mt @ 16% P 2O5 has been defined within the Company’s tenement based on a reassessment of the historical IMC data (refer Independent Geologist’s Report – Section 4). The phosphate mineralised horizon extends for a strike length in excess of 15km within the project area (Figure 10). The phosphate horizon is yet to be fully closed off and potential exists to extend the resource base to the west through additional drilling. Rock phosphate prices have increased substantially over the past two years and significant phosphate deposits discovered in the past, such as D-Tree, are now receiving detailed re-assessment (Figure 9). EPMA 15763 overlaps the Gregory Wild River area under the Gregory Wild River Declaration 2007 (GWRD) and as a result, the conducting of mining and exploration activities on that tenement (if granted) will be limited by restrictions placed under the GWRD. For further details, refer to the Independent Report on Tenements – Section 5 and Risk Factors – Section 7. The Company’s initial focus at D-Tree West will be to assess the total phosphate resource potential within the project area (including step- out exploratory drilling upon tenement grant) and review commercial opportunities. "
MET Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held