“First Phosphate Isn’t Swimming Naked” — CEO John Passalacqua on the 40% Sell-Off

First Phosphate (NASDAQ: PHOS | CSE: PHOS) CEO John Passalacqua returns to Mining Stock Education. About two and a half months after its NASDAQ debut, the stock is roughly 40% below its all-time high and sitting on its 200-day moving average. John explains why the sell-off doesn’t worry him: the company has more than $40 million in cash and non-repayable government funding, which takes it to a final investment decision. On top of that, about $400 million of the estimated $500 million capex is already on the table from two sovereign nations. He also explains why he thinks this kind of sovereign backing is starting to “bust the Lassonde curve” for critical minerals projects.

00:00 Intro

00:46 Show Intro and Selloff

01:42 Macro Fears October Volatility

02:49 Why Corrections Create Value

03:55 Cash Runway to Feasibility

04:52 Sovereign Funding and G7

06:01 Filling the Final Gap

08:05 Execution De Risking Plan

09:34 Mine Plus Processing Vision

10:06 Buffett Tide Metaphor Returns