First Phosphate Corp.
FPHOY, FRSPF · Mining & Quarrying of Nonmetallic Minerals (No Fuels) · EDGAR filings ↗
Grade
D43Pre-revenue phosphate exploration micro-cap burning cash with deeply negative returns and stale FY2023 data.
Strengths
- Early-stage strategic interest (MOUs, EXIM letter of interest, metallurgical milestones) and a high-grade discovery
- Low leverage typical of an equity-funded explorer
Risks
- No operating revenue; ROA -64%, ROE -89% (bottom decile); cash ~$5.7M against ~$8.6M annual burn
- Speculative exploration stage with no proven commercial reserves; reliant on continual dilutive financing
Key metrics
Return on equity
-89.0%
Return on assets
-63.8%
Tangible book value
$7M
Cash & investments
$6M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2024-07-08 | 2024-02-29 | 0001753926-24-001223 ↗ |
| 20-F | 2012-07-13 | 2012-02-29 | 0001062993-12-002453 ↗ |
| 20-F | 2011-08-31 | 2011-02-28 | 0001062993-11-003540 ↗ |