# First Phosphate Secures EUR 170M Commitment & Targets 2029 Production with CEO John Passalacqua

Page: https://stenobird.com/podcast/mining-stock-education-1396689/first-phosphate-secures-eur-170m-commitment-targets-2029-production-with-ceo-john-passalacqua
Text version: https://stenobird.com/podcast/mining-stock-education-1396689/first-phosphate-secures-eur-170m-commitment-targets-2029-production-with-ceo-john-passalacqua.md
Podcast: [Mining Stock Education](https://stenobird.com/podcast/mining-stock-education-1396689)
Published: 2026-04-15T12:00:31+00:00
Episode link: https://www.spreaker.com/episode/first-phosphate-secures-eur-170m-commitment-targets-2029-production-with-ceo-john-passalacqua--71341884
Audio file: https://api.spreaker.com/download/episode/71341884/2302970507_miningstockeducation_first_phosphate_secures_eur.mp3
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Duration seconds: 1174

## Resource

John Passalacqua, CEO of First Phosphate, provides an update on the company’s Quebec igneous phosphate project intended to produce purified phosphoric acid for LFP batteries. Passalacqua discusses a Danish Export Credit Agency LOI for up to 170 million euros for equipment and services, building on prior support including a Canadian federal non-repayable $16.7 million contribution and a similar 170 million US dollar EXIM Bank LOI, alongside a definitive bankable offtake agreement with some prepayment. He explains milestones needed to convert LOIs to definitive financing, with feasibility targeted by end-2026 and permitting in early 2027, supporting an aggressive 2029 production target. The conversation also covers completion of ~40,000 meters of infill drilling, discovery of two new zones that may expand the pit and resource, and the rationale for building a local North American/Western LFP supply chain amid geopolitical supply-chain disruptions. 00:00 Intro 00:56 Danish Financing LOI 02:25 Trade Tensions and Cooperation 03:04 From LOI To Definitive 04:25 Offtake Agreement De-Risking 06:18 Capex and Capital Stack 08:33 Drilling Results New Zones 10:50 Open Pit Depth and Mine Design 13:01 Geopolitics Supply Chain Resilience 15:21 North America and Europe Focus 16:11 Wrap Up and Tickers First Phosphate Introductory Interview: https://www.youtube.com/watch?v=eD7t1Q7OZfU Previous interview: https://youtu.be/mF2XegyOoEU Access press releases discussed: https://firstphosphate.com/news/ https://firstphosphate.com/ CSE: PHOS – FSE: KD0 – OTCQX: FRSPF – OTCQX-ADR: FPHOY Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Sponsor First Phosphate pays Mining Stock Education a United States dollar ten thou…

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