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Verdant in talks over 100,000-tpa off-take from Ammaroo phosphate project

Verdant Minerals Ltd. agreed to potentially sell up to 100,000 tonnes per annum of phosphate rock concentrate or other phosphate products from its Ammaroo project in Australia's Northern Territory.

The company said May 21 that it signed a nonbinding memorandum of understanding with Ameropa AG subsidiary Ameropa Australia Pty. Ltd. to negotiate the future off-take.

Verdant's recent feasibility study for the Ammaroo project pegged a net nominal ungeared project net present value, discounted at 10%, of A$344 million and an 18.1% internal rate of return.