Fertoz Ltd.said May 5 that it signed a memorandum of understanding to finalize an agreementfor the sale of 2,000 tonnes of phosphate rock per year.

The MOU adds to the 2,000-tonne deal announced in February and fulfills 40% of the 10,000-tonnesales target by end of this year.

The initial three-year contract, which is subject to the satisfactoryperformance of a trial, is expected to be finalized on or before July 1.

The product will be extracted from the company's British Columbiaprojects, utilizing its approved bulk sample permits of up to 27,500 tonnes.

For trial, Fertoz will provide product to the potential customerfrom its first batch of 990 tonnes of crushed and pulverized rock phosphate product,it said.