Aguia set for second cashflow stream by mid-year
Aguia Resources is shifting gears and gunning for a second major revenue stream - this time from its phosphate project in Brazil's booming southern agricultural heartland.
Hot on the heels of its maiden gold pour at the Santa Barbara mine in Colombia just six weeks ago, the company is planning to become Brazil's newest phosphate producer, with its Três Estradas project expected to lock in first organic fertiliser sales in for the first quarter of the 2026 financial year.
In an effort to fast-track its phosphate production, Aguia has inked a deal to lease a fully operational 100,000 tonne per annum (tpa) fertiliser plant owned by local fertiliser group Dagoberto Barcelos 110 kilometres from the mine site.
Under the terms of the 10-year agreement - including a built-in 10-year option extension - Aquia is shelling out R$5 million (A$1.38M) in upfront payments, split into six monthly instalments to smooth the company's cashflows ahead of commissioning in July.
'The association with Dagoberto Barcelos will be instrumental to a smooth path to production, enabling significant cost and time savings on earlier estimates.'
Aguia Resources executive chairman Warwick Grigor
Aguia has also agreed to pay a monthly rent of AU$43,000 from July which equates to just AU$5.13 per tonne at the current maximum capacity.
The company's decision to lease the plant will see it sidestep a potential $26 million price tag for a 300,000tpa standalone facility - a figure highlighted in a 2023 bankable feasibility study. That study painted a compelling picture, forecasting annual EBITDA of $22 million over an 18-year mine life and a rapid payback period of just 2.9 years.
To keep operating costs low, Aguia has also cut a deal with local contractor, Contrasapper, to outsource mining and haulage under a per-tonne delivery agreement.
Contrasapper's services will also include everything from early works and vegetation clearance to haulage and road maintenance.
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