“Fully Funded to FID with $50M Treasury of Cash & Grants” says First Phosphate CEO John Passalacqua
First Phosphate CEO John Passalacqua discusses how the recent small-cap volatility does not affect the fundamentals of First Phosphate due to the company’s strong treasury. Passalacqua, a former trader and market maker, says geopolitical tensions and rate fears have driven a systemic selloff that often forces investors to sell winners, but he views it as a catharsis that flushes weak hands. He highlights First Phosphate’s 24 to 36-month runway, citing over $30M cash in treasury plus access to a $16.7M Canadian government contribution and a recent $17.7M raise at C$2, totaling nearly $50M to reach feasibility (Q4-2026 or Q1-2027), permitting, and final investment decision. He updates on the OTCQX ADR (FPHOY) volume building and describes strong collaboration with local First Nations who are supportive. The company targets its Quebec high-purity phosphate mine producing in 2029 and is advancing plans for a purified phosphoric acid plant at Port Saguenay, with feasibility expected by.
Tickers: CSE: PHOS – FSE: KD0 – OTCQX: FRSPF – OTCQX-ADR: FPHOY
00:00 Intro
00:39 Market Volatility View
02:23 Cash Runway Update
03:23 Why Shares Pulled Back
05:54 ADR Listing Explained
07:25 First Nations Partnerships
10:59 Community Chalet Concerns
12:19 Phosphoric Plant Plans
13:57 Feasibility Timeline
14:16 Wrap Up and Tickers
