PhosCo Ltd (ASX:PHO) Reports Best-Ever Concentrate Grades from Gasaat Metallurgical Testwork

Sonal Goyal

26 August 2026 11:15 AM AEST

PhosCo Ltd (ASX:PHO) Reports Best-Ever Concentrate Grades from Gasaat Metallurgical Testwork

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Key Highlights

PhosCo has released MgO optimisation metallurgical testwork results for the KM prospect at its wholly owned Gasaat Phosphate Project in Northern Tunisia.
Flotation test concentrate grades ranged from 31.4% to 34% P2O5, at recoveries between 73.5% and 77.8% P2O5.
Four individual test results of 33.0%, 33.5%, 33.6% and 34% P2O5 represent the highest concentrate grades achieved for the Gasaat project to date.
Testwork was conducted by independent laboratory Bureau Veritas Minerals in Adelaide.

PhosCo Ltd (ASX:PHO) has announced metallurgical testwork results from its wholly owned Gasaat Phosphate Project in Northern Tunisia, reporting concentrate grades it describes as the highest yet achieved for the project.

The testwork, focused on MgO optimisation for the KM prospect, was carried out at Bureau Veritas Minerals in Adelaide. According to the results, concentrate grades from the flotation tests ranged from 31.4% to 34% P2O5, with recoveries between 73.5% and 77.8% P2O5.

Of particular note, four individual concentrate grade results, of 33.0%, 33.5%, 33.6% and 34% P2O5, were reported as the highest ever achieved for the Gasaat project. The results relate specifically to the KM prospect within the broader Gasaat Phosphate Project landholding in Tunisia.

About the Gasaat Phosphate Project

The Gasaat Phosphate Project is wholly owned by PhosCo and is located in Northern Tunisia. The KM prospect forms part of this project area and has been the focus of the metallurgical optimisation work reported in this announcement. The use of an independent laboratory, Bureau Veritas Minerals, for the flotation testwork provides third-party verification of the reported concentrate grades and recovery rates.

P2O5, or phosphorus pentoxide, is the standard measure used to grade phosphate rock concentrates, with higher percentages generally reflecting a more refined and higher-value product. Magnesium oxide, or MgO, content is a key impurity consideration in phosphate processing, and the testwork programme was specifically designed to optimise its removal during flotation.

Conclusion

PhosCo's latest metallurgical results from the Gasaat Phosphate Project point to incremental improvement in the concentrate grades achievable from the KM prospect, with four results surpassing prior benchmarks for the project. The testwork, verified by an independent laboratory, adds to the body of technical data PhosCo has compiled on its Tunisian phosphate assets, with the company's broader project development to be shaped by further metallurgical and technical work over coming periods.

FAQs

Q: What is PhosCo Ltd's ASX ticker code?

A: PhosCo Ltd trades on the ASX under the code PHO.

Q: What did PhosCo announce regarding the Gasaat Phosphate Project?

A: PhosCo announced MgO optimisation metallurgical testwork results for the KM prospect at its wholly owned Gasaat Phosphate Project in Northern Tunisia.

Q: What concentrate grades were achieved in the testwork?

A: Concentrate grades ranged from 31.4% to 34% P2O5 at recoveries of 73.5% to 77.8% P2O5, with four results of 33.0%, 33.5%, 33.6% and 34% P2O5 marking the highest grades achieved for the project.

Q: Where was the testwork conducted?

A: The flotation testwork was carried out at Bureau Veritas Minerals in Adelaide.

Q: Where is the Gasaat Phosphate Project located?

A: The Gasaat Phosphate Project is located in Northern Tunisia and is wholly owned by PhosCo.

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