- Silver Eagle Mines has a unique asset containing raw phosphate ore suitable for direct application in organic farming.
- Once in production, the company will produce the only large scale, certified organic phosphate in the United States.
- Raw organic phosphate from Murdock Mountain is perfectly suited to serve the fast growing US$59.28 billion organic food market.
- The company aims to complete a NI-43-101 resource related Premlinary Economic Estimate (PEA) by Q3-4 in 2023 and Q1-3/2022 carry out an exploration program to confirm and extend the known deposit.
- The company’s project, Murdock Mountain, produces phosphate ore that does not require costly processing before it is usable.
Food insecurity is a significant problem affecting people worldwide. It’s estimated that nearly 10 percent of the world's population faces severe food insecurity, and is expected to increase by approximately 35 percent over the next 40 years.
To establish food security, agricultural output needs to significantly increase by a reported 70 percent to meet the needs of a growing population. To boost crop yields, nutrient management practices and fertilizer technologies must be used since fertilizer products are responsible for more than 50 percent of crop yields.
It’s estimated that the global phosphate market will grow to US$90.25 billion by 2028 with a CAGR of 5 percent. Considering that the United States imported 57 percent more phosphate in 2021 than the previous year, this indicates that more phosphate sources are needed.
Silver Eagle Mines (CSE:SEM) embodies its straightforward business quarry strategy, “Blow it up. Dig it up. Grind it up. Bag It up. And Ship it out by rail,” by using a direct-ship, pit-run system that brings truly organic, direct to application phosphorus to market. The company’s focus is to produce the only certified raw rock organic phosphate eligible for organic farming in the United States, specifically targeting industrial farms and the US$59.28 billion organic food market.
The organic food market in the United States is growing because of factors such as increasing health awareness among consumers and increasing environmental concerns due to the heavy use of pesticides, chemical fertilizers, and other chemicals in conventional farming. As a reagent, raw rock organic phosphate from Murdock Mountain is perfectly suited to regenerate soil to serve the fast growing organic food market.