John Passalacqua Highlights Key Developments for First Phosphate, Focused on High-Purity Phosphate Production for the Lithium Iron Phosphate (LFP) Battery Industry [Video]

December 16, 2024 — John Passalacqua, CEO and Director of First Phosphate Corp. (CSE: PHOS | OTCQB: FRSPF), recently joined Tracy Hughes of Investor.News to discuss the company’s latest developments and milestones, including the release of its Preliminary Economic Assessment (PEA) for the Bégin-Lamarche property in Quebec. First Phosphate is a mineral development company focused on producing high-purity phosphate for the Lithium Iron Phosphate (LFP) battery industry. The company’s vertically integrated strategy aims to supply critical materials directly into North America’s LFP battery supply chains. According to Passalacqua, the PEA results highlight the project’s robust economics, with a pre-tax NPV of $2.1 billion, a 37.1% IRR, and a payback period of only 2.9 years. “It’s an exceptional mine for electrification in North America,” he stated, noting its capacity to produce 900,000 tons of phosphate concentrate annually, sufficient to generate approximately $7 billion worth of LFP cathode active material.

During the interview, Passalacqua highlighted the …