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Last C$0.49 CAD
Change Today -0.02 / -3.92%
Volume 5.0K
GQ On Other Exchanges
As of 4:11 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

great quest fertilizer ltd (GQ) Snapshot

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08/6/14 - C$1.84
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great quest fertilizer ltd (GQ) Details

Great Quest Fertilizer Ltd., a mineral exploration company, engages in the acquisition, exploration, and development of phosphate and gold mineral resource projects in West Africa. Its flagship property is the Tilemsi Phosphate Project that covers encompassing 1,206 square kilometers located in northeastern Mali. The company was formerly known as Great Quest Metals Ltd. and changed its name to Great Quest Fertilizer Ltd. in June 2014. Great Quest Fertilizer Ltd. was founded in 1989 and is headquartered in Toronto, Canada.

Founded in 1989

great quest fertilizer ltd (GQ) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: --
Chief Financial Officer and Secretary
Total Annual Compensation: C$128.7K
Chief Operating Officer
Total Annual Compensation: C$203.7K
Compensation as of Fiscal Year 2014.

great quest fertilizer ltd (GQ) Key Developments

Great Quest Fertilizer Ltd. Receives Environmental Permit for the Development of the Tilemsi Phosphate Deposit

Great Quest Fertilizer Ltd. announced the Malian Ministry of Environment, Sanitation and Sustainable Development, has granted the company an environmental permit for the development of the Tilemsi phosphate deposit and the construction of the phase I production facility in the agricultural region of Dogofry, Segou, Mali. The phase I project comprises of small-scale mining, beneficiation, NPK blending and the granulation of 40,000 tons of phosphate rock per annum for twelve years. The facility is strategically located in Dogofry, Segou State, 1,024 km south west of the Tilemsi mining property, thus placing the production in Mali's agricultural heartland distant from the political instability of Northern Mali. The phase I production is expected to generate an internal return of 30%, with minimal capital expenditure. This initial small-scale production in West Africa will allow the company to establish the product and to build familiarity with potential customers capable of signing long-term supply agreements for future production. The decision to commence production at the Tilemsi Phosphate project is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, but rather on a more preliminary estimate of inferred mineral resources. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with this production decision. Production and economic variables may vary considerably, due to the absence of a complete and detailed site analysis according to and in accordance with NI 43-101.

Great Quest Fertilizer Ltd., Annual General Meeting, Jun 19, 2015

Great Quest Fertilizer Ltd., Annual General Meeting, Jun 19, 2015., at 11:00 US Eastern Standard Time. Location: Suite 303, 95 King Street East. Agenda: To receive and consider the report of the directors and the financial statements of the Company together with the auditor's report thereon for the financial year ended December 31, 2014; to appoint Crowe MacKay LLP the auditors for the ensuing year; to fix the number of directors at five (5); to elect directors for the ensuing year; to consider and, if thought fit, to approve an ordinary resolution confirming, ratifying and approving the Company's Stock Option Plan; and to transact such other business as may properly come before the Meeting.

Great Quest Fertilizer Ltd. Reports Filing of an Updated Preliminary Economic Assessment of its Tilemsi Phosphate Project in Mali, West Africa

Great Quest Fertilizer Ltd. reported the filing of an updated Preliminary Economic Assessment ("PEA") of its Tilemsi Phosphate project in Mali, West Africa. The PEA, originally filed on February 17, 2013, has been updated to include the pilot plant phase of operation announced on December 18, 2014. The addition of the pilot phase of production (Phase 1) has allowed for greater optimization of Phase II, the full scale operation. Phase I has a demonstrable impact on the economics and risk profile of the project. This has resulted in a new Net Present Value after tax of $432.1 million and internal rate of return after tax of 55%. The PEA evaluates the economics of the proposed initial phases of the phosphate mining and processing at the Tilemsi Phosphate Project in Mali. The Phase I conceptual project development includes pilot-scale mining, beneficiation, NPK blending and the granulation of 40,000 tons of phosphate rock per annum for twelve years. The pilot plant will be located in the agricultural area of Dogofry, 1,024 km south west of the Tilemsi mining property. The Phase II proposed project development would proceed upon determination of the success of Phase I results over a complete year of full operation. The Phase II operations will be located in Bourem, 95 km from the Tilemsi mining property. Phase II aspects of the PEA include the 2011 drilling program, in addition to the construction of phosphate beneficiation and granulation plants and their associated infrastructure and utilities. The Phase I production is a unique circumstance where a pilot plant generates internal profits. Additional attributes of Phase I include: market building step, the initial small scale production in the region allows the company to establish the product and build familiarity with potential large off-takers; reduces the capital expenditure required to achieve profitable production and allows for secure production and investment while the situation further stabilizes in Northern Mali. The pilot phase of production will allow for steeper production profile at the initiation of Phase II. As a consequence the internal rate of return is increased, the pay back period is reduced as is the projected mine life, from 20 years to 17 years. A significant finding of the updated study is the elimination of a company owned an operated fertilizer distribution business. Such a business would have put the company in competition with the now proposed distributors, in a lower margin, labour intensive business. As a consequence the IRR as been increased, but the net present value has decreased. The initial capital expenditure includes $10.2 million in development costs and further feasibility studies plus $147.7 million in construction costs. The economic highlights listed above were calculated assuming a 60/40% debt equity split. Project economics without financial gearing indicate the net present value after tax increases to $466.5 million and the internal rate of return after tax falls to 40.8%. Debt and equity financing costs, including political risk insurance premiums, are estimated at $29 million. This initial pilot plant project will be the only local source of high quality fertilizer in Mali. The proximity to the Western African market is a major cost advantage of the project's location. All the fertilizers currently available in the region are imported through the ports of Dakar in Senegal or Abidjan in Cote d'Ivoire, respectively located at 1,500 km and 1,100 km from the agricultural areas the project will serve. As a consequence of the high costs of transport and the poor transportation logistics in the region, together with the border levies and taxes, the resulting prices of fertilizers are considerably higher in the region than are international market prices.


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