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PhosCo Says US State Department Publishes Notice of Funding Opportunity for Tunisia Phosphate Project, Shares Jump 25%

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PhosCo (ASX:PHO) said the US Department of State, through the Bureau of Near Eastern Affairs and the US Embassy in Tunis, published a Notice of Funding Opportunity regarding its Gasaat phosphate project in Tunisia, identifying the firm as the target recipient for private equity investment, commercial partnerships, and engineering expertise, according to a Monday Australian bourse filing.

Up to $1.5 million in grant/cooperative agreement funding will be available to a successful applicant, and the program is contemplating up to two awards. Applications close on Sept. 2, with an anticipated project start date of Oct. 1.

Its shares jumped 25% in recent trading on Monday.

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