(via TheNewswire)
In 2016, the Company prepared a pre-feasibility study for the possible production of phosphate rock from the Bayovar project. Shortly thereafter, the market prices for phosphate rock to be sold into the fertilizer industry dropped dramatically - well below the price that would justify the development of the Bayovar 12 deposit - and the prices remain soft today.
As stated in the Company's news release of
We were optimistic that these discussions would result in the financing of a feasibility study that would look at the viability of producing P4at the Bayovar 12 project. While the strong interest expressed by these companies led us to this sense of optimism, the talks stalled as the cost of conducting such a study appears to be a major stumbling block and there is little appetite for investing in a development-stage phosphate property.
In order to hold the Bayovar 12 concession and the rights to the phosphate rock deposit, the
Management isactively investigating new prospective projects for acquisition by the Company.
About CROPS
CROPS is a TSXV-listed mineral exploration company led by an experienced management team with a track-record of building value in resource companies. For further information, please visit our web sitewww.crop2o5.com.
ON BEHALF OF THE BOARD
Symbol: TSXV-COPS
Shares Issued: 69.9 million
For further information, contact:
Tel: 604-688-5288; Fax: 604-682-1514
Email:info@crop2o5.com
Website:www.crop2o5.com
Neither the
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation.All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Company's Bayovar 12 project and future plans for the Company. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors relate to, among other things, information regarding future plans for the Company; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the future plans for the Company will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Copyright (c) 2020 TheNewswire - All rights reserved.
Copyright (c) 2020 TheNewswire - All rights reserved., source