The Conversation (0)
Arianne Phosphate (TSXV:DAN,FWB,JE9N,OTCBB:DRRSF) announced that, as part of its $8 million financing financing that was previously announced on July 31 2014, Investissement Québec has invested $2 million in Arianne’s Lac à Paul Phosphate Project. The investment is expected to close in coming days.
As quoted in the press release:
Arianne’s Lac à Paul project is set to be the most significant development in the province. Already shown to be the largest greenfield phosphate project in the world, independent studies anticipate that Lac à Paul will provide over $12.5B in economic benefit to the region during the first 25 years of operation. The project will create over 2,200 jobs during the construction phase, 1,000 direct and indirect jobs during operation and provide $1B in employment income to the region over this period.
Arianne COO, Jean-Sebastien David, said:
We are very pleased that the government has chosen to support this project and believe that they will be an exceptional partner as we go forward through permitting and ultimately development. Certainly, this is a big project and it will require the support of all those involved. By having the government there, I think it shows the commitment of the province to doing all they can do to help see Lac à Paul be developed. Their investment will enable our team to continue to focus their efforts and energy on the ultimate success of our project. This investment also adds to the string of recent favorable corporate events over the last few months: positive drill results, favorable cost reductions and strong management additions.
Click here to read the Arianne Phosphate (TSXV:DAN) press release
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