Aguia (ASX: AGR) releases updated Bankable Feasibility Study, confirms Phosphate Project economics

By - Ankit Sethi

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Highlights

  • Aguia is a multi-commodity (phosphate and metallic copper) company, having interests in Rio Grande do Sul in Brazil
  • Updated Bankable Feasibility Study shows that the Phosphate Project continues to deliver "excellent economics"
  • EBITDA (average for years 1 to 18) comes out to be AU$22.1 million, with Pay-back of 2.9 years

Multi-commodity listed company Aguia Resources (ASX: AGR), which has two Rio Grande do Sul (Brazil) projects including organic phosphate, has released the updated Bankable Feasibility Study of AGR's Phosphate Project. The results, according to Aguia, display "excellent economics" for AGR's shareholders, with Internal Rate of Return (IRR) of 54.7%.

The Study confirms the viability (both technical and economic) potential for production of Direct Application Natural Fertilizer, AGR further states. On the ASX, the company's shares traded at AU$0.059 at the time of writing on 21 March 2023.

Source: AGR ASX announcement dated 21 March 2023