Chatham Rock Phosphate Limited advised that in order to progress selenium project a new Australian subsidiary company, Organoselenium Pty Ltd., has been established. The tenements Gunnerside EPM28676 and Tambo EPM 28606, that form the basis of the project, will be transferred from CRP's Australian subsidiary Avenir Makatea Pty Ltd. into the new company. Organoselenium Pty Limited has attracted four new investors who recognise the value of selenium.

Selenium's addition to the Australian list of Critical Minerals assists the new company's prospects.