$PHOS

First Phosphate (NASDAQ:PHOS) aims to start production by 2029 after its Quebec project received fast-track status. The company reported a 378% increase in indicated resources, with a 91.1% conversion rate to purified phosphoric acid. It has secured offtake agreements and export-credit support totaling CAD $400 million. The project has a CAD $2.1 billion net present value, a 37% internal rate of return, and a 23-year mine life, according to the company.

Emerging Growth Research released a report on First Phosphate Corp., highlighting potential financing support from Swiss Export Risk Insurance for its Quebec project. The $212.5M support could reduce equity financing needs. First Phosphate is developing a North American supply chain for LFP battery materials, with multiple export credit agency-backed financing sources.

Meta shares rose 12% to $747.91 after strong AI assistant traction and a higher price target from Wells Fargo. New Era Energy secured a 20-year power deal for its Texas data center. Crypto-linked stocks gained as bitcoin surpassed $86,000. Fertilizer producers fell on news of a potential US-Belarus potash deal. Novo Nordisk shares dropped 7% amid competition concerns in the weight-loss drug market. Warner Bros Discovery and Paramount shares rose amid settlement talks.

First Phosphate Corp. announced a peer-reviewed study on its Bégin-Lamarche Igneous Phosphate Deposit, published in Ore Geology Reviews. The study highlights the deposit's potential as a high-purity phosphate source for lithium iron phosphate (LFP) battery production, with low chlorine and trace elements.

First Phosphate Corp. (PHOS) announced Swiss government support for its Bégin-Lamarche mine, guaranteeing up to 85% of Swiss export financing, totaling $212.5 million. This backing, along with prior Danish support, aims to minimize shareholder dilution. The company is assembling a capital stack with credible partners, including nation states, to fund the project.

First Phosphate Corp. (PHOS) may face reduced equity dilution after Noble Capital Markets noted potential lower funding needs for its Bégin-Lamarche project, supported by Swiss Export Risk Insurance (SERV) and other financing. SERV could provide up to US$212.5 million, reducing the equity requirement to about US$82.5 million. Noble maintains an Outperform rating and $25.50 price target.

US stocks ended mixed after the Federal Reserve raised interest rates by 25 basis points, citing strong consumer spending and persistent inflation. The Dow fell 1.2%, while the S&P 500 dropped 0.5% and the Nasdaq was little changed. The 10-year Treasury yield topped 5%, adding pressure on equities. Crypto markets also declined after the US Senate failed to advance digital asset regulation. The Fed projected one more hike this year, with rates expected to rise to 4.1% in 2026.

First Phosphate Corp. (PHOS) received a Letter of Support from Swiss Export Risk Insurance (SERV) for up to USD 212.5 million in financing for its igneous phosphate mine project in Quebec, Canada. The financing covers Swiss machinery, equipment, and construction services, with SERV potentially supporting up to 95% of the eligible financed amount. The project aims to establish a vertically integrated supply chain for LFP battery production in North America.

Emerging Growth Research released a Flash Report on First Phosphate Corp., lowering its discount rates for the company's mine and phosphoric acid plant by 100 basis points each. The report highlights improved capital access, sovereign support, and an expanded mineral resource estimate. First Phosphate is developing a North American supply chain for LFP battery materials.

Emerging Growth Research released a Flash Report on First Phosphate Corp., lowering discount rates for its mine and phosphoric acid plant by 100 basis points, citing reduced risk. The company has improved capital access and secured sovereign support for its projects. A feasibility study in early 2027 is expected to be a revaluation catalyst.