Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Arianne Phosphate (OTC:DRRSF), a development-stage phosphate mining company, advancing its Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, has announced that it has received positive results from tests that confirm its high-purity phosphate concentrate can be used in the production of technical grade phosphoric acid used in the production of batteries.
These tests were designed to confirm that Arianne meets specifications provided by a producer of lithium-based batteries and performed through an independent facility specializing in the production of purified phosphoric acid.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
"Having already established itself as a company that can help address the world’s growing need for fertilizer and thus food, this news squarely places Arianne Phosphate as a potential source of phosphate for the LFP battery," said Brian Ostroff, President of Arianne Phosphate. "As companies such as Tesla, Volkswagen, Ford and GM look to secure their supply chains, a high quality North American supply should be of great interest."
The lithium-iron-phosphate battery (LFP) has emerged as a leading technology in batteries. Many automotive companies such as Tesla Inc (NASDAQ:TSLA), Volkswagen AG (OTC: VWAGY), Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) are currently, or have already announced plans to use LFPs in their cars, following that of many Chinese companies.
“Given the nature and high-purity of our phosphate concentrate, we were always confident that our rock would perform,” Ostroff added. “The company’s recent initiatives surrounding direct application and alternative fertilizers, along with our work in battery materials, really does differentiate us from many of the other projects. Further, recent geopolitical events have highlighted the importance of security of supply in dealing with food security and critical materials.”
Demand for phosphate increases year over year, and most of the world's supply comes from jurisdictions that historically have been unstable. To make matters more difficult, most deposits are sedimentary, containing deleterious elements that can be challenging when producing fertilizer.
Arianne’s Lac à Paul project is the world’s largest greenfield deposit and is permitted and shovel ready. The rare igneous deposit allows the company to produce a high-purity, low contaminant concentrate suitable for use in all applications, and for a wide range of industries.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.