Arianne Phosphate, Saguenay, Quebec, a development-stage phosphate mining company advancing its Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, said on May 18 that it has successfully tested an enhanced process that will allow the company to optimize its high-purity phosphate concentrate for specific end markets.
Working with Corem, a Quebec-based company specializing in mineral processing, Arianne produced both a low MER (minor element ratio) and higher MER phosphate concentrate using high intensity magnetic separation. The company said the results demonstrated that Arianne’s phosphate concentrate can be further optimized to meet target markets with an easy addition to the process flowsheet. The low MER material is of interest to those looking for specialty phosphate applications, such as high-purity acid used in lithium-iron-phosphate (LFP) batteries, while the higher MER concentrate would be of interest for direct application fertilizers, as it would be higher in beneficial micronutrients such as iron.
“Due to the nature of Arianne’s phosphate concentrate, the company has been approached by participants outside of the traditional fertilizer industry,” said Brian Ostroff, Arianne President. “With this work complete, Arianne continues to demonstrate the superiority of its phosphate concentrate and will allow the company to produce a concentrate specifically targeted for its end use. Further, by opening up additional premium markets, it allows greater commercial opportunities for our investors and stakeholders at a time when macro events have driven phosphate demand and forced buyers to try and secure their supplies from safer geopolitical jurisdictions.”
In other news, Arianne announced a grant of 500,000 stock options to Jeffrey Beck, Arianne CEO, in lieu of any salary or cash remuneration. These options entitle the holder to purchase one common share of the company until May 17, 2032, at a price of $0.55 per share, this being the closing price of the company’s shares on the trading day preceding the date of the grant.
The options are subject to a vesting period and are also subject to regulatory approval. “After having spent the last year at Arianne and watching its progression, the ability to tie my remuneration to the future fortunes of the company was a welcomed opportunity,” said Beck.