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Aguia Resources Ltd. (ASX:AGR) announced an update on its activities, along with an assessment of the phosphate market.
Aguia Resources Ltd. (ASX:AGR) announced an update on its activities, along with an assessment of the phosphate market.
As quoted in the press release:
Early results from Aguia’s drilling program are confirming the extension of Três Estradas South mineralization to the south west at surface and at depth. Recall, Três Estradas South forms the south west strike extension of the previously announced Três Estradas in-pit resource (30.5 million MT @4.3% P2O5).
Phosphate rock prices have been holding up while agricultural commodity prices have been softening after the Q4 14 rally. Despite the recent drop in oil price, we expect the phosphate rock price to remain relatively strong due to the supply-related issues with oil (rather than economic/financial).
Click here for the full Aguia Resources Ltd. (ASX:AGR) press release