Latest news with #WarwickGrigor
Sydney Morning Herald
24-07-2025
- Business
- Sydney Morning Herald
Aguia Brazilian phosphate project ramps up as fertiliser prices surge
Phosphate prices are booming, and Aguia Resources appears to be riding the wave straight into early cash flows at its Tres Estradas phosphate project in Brazil. Global phosphate prices have jumped as much as 70 per cent in the past year, with Aguia now forecasting a sale price of $200–$230 per tonne for its flagship product. That represents a massive leap from the $120–$140 per tonne it anticipated 12 months ago. The price also compares very favourably with the alternative and largely imported monoammonium phosphate (MAP) fertiliser product, which is trading at $1138 per tonne. The market tailwind delivered a major boost to Aguia's project economics, with independent modelling now projecting a phase one 14-year mine life EBITDA of between $253 million and $298 million, based on conservative price assumptions of $153 per tonne. 'This is developing as a stand-alone business division in Brazil with its own strong growth curve.' Aguia Resources executive chairman Warwick Grigor However, with current prices almost 30 per cent higher than the assumed price in modelling, it's anyone's guess how much further those EBITDA numbers could improve when first sales kick in. Production is set to begin in the first quarter of 2026 at an initial rate of 100,000 tonnes of phosphate per annum, with the company targeting a fast ramp-up to 300,000 tonnes. It has cleverly sidestepped the usual capital expenditure headaches by securing a lease on an existing processing plant operated by Brazilian firm Dagoberto Barcelos, shaving years and millions off its development timelines and costs. Instead of shelling out $26 million for a greenfield build, Aguia's revamped plan will see it spend $3.2 million to get into production, with a further $4.2 million earmarked for capacity expansion. That equates to a total capital outlay of $7.4 million, less than a third of the company's original estimate. Operating costs are similarly lean. Cash costs, including plant leasing, are pegged at $55–$70 per tonne, leaving the company in pole position to generate juicy margins from the get-go.
The Age
24-07-2025
- Business
- The Age
Aguia Brazilian phosphate project ramps up as fertiliser prices surge
Phosphate prices are booming, and Aguia Resources appears to be riding the wave straight into early cash flows at its Tres Estradas phosphate project in Brazil. Global phosphate prices have jumped as much as 70 per cent in the past year, with Aguia now forecasting a sale price of $200–$230 per tonne for its flagship product. That represents a massive leap from the $120–$140 per tonne it anticipated 12 months ago. The price also compares very favourably with the alternative and largely imported monoammonium phosphate (MAP) fertiliser product, which is trading at $1138 per tonne. The market tailwind delivered a major boost to Aguia's project economics, with independent modelling now projecting a phase one 14-year mine life EBITDA of between $253 million and $298 million, based on conservative price assumptions of $153 per tonne. 'This is developing as a stand-alone business division in Brazil with its own strong growth curve.' Aguia Resources executive chairman Warwick Grigor However, with current prices almost 30 per cent higher than the assumed price in modelling, it's anyone's guess how much further those EBITDA numbers could improve when first sales kick in. Production is set to begin in the first quarter of 2026 at an initial rate of 100,000 tonnes of phosphate per annum, with the company targeting a fast ramp-up to 300,000 tonnes. It has cleverly sidestepped the usual capital expenditure headaches by securing a lease on an existing processing plant operated by Brazilian firm Dagoberto Barcelos, shaving years and millions off its development timelines and costs. Instead of shelling out $26 million for a greenfield build, Aguia's revamped plan will see it spend $3.2 million to get into production, with a further $4.2 million earmarked for capacity expansion. That equates to a total capital outlay of $7.4 million, less than a third of the company's original estimate. Operating costs are similarly lean. Cash costs, including plant leasing, are pegged at $55–$70 per tonne, leaving the company in pole position to generate juicy margins from the get-go.
The Age
17-06-2025
- Business
- The Age
Aguia locks in $4M loan to kick-start Brazilian phosphate production
Aguia Resources has locked in a $4 million loan from the government-owned Southern Development Bank in Brazil to refurbish the company's recently leased processing plant and kick-start mining operations at its Tres Estradas phosphate project. The 20-year loan covers the initial $118,000 capital expenditure required to kick off mining activities and fund an estimated $1.97M needed to bring the plant up to speed to process an expected 100,000 tonnes of phosphate annually. The company is eyeing processing operations beginning in January next year on its organic phosphate product, dubbed Pampafos. Recent field trials showed Pampafos rivals the performance of top-shelf imported fertilisers at a fraction of their price. Aguia recently leased its plant in Caçapava do Sul from century-old agricultural limestone firm Dagoberto Barcellos SAS. The decision to lease a suitable facility may turn out to be a masterstroke, as it avoids the need for a capital raise for a new plant and its considerable associated shareholder dilution. 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project.' Aguia Resources executive chairman Warwick Grigor Aguia secured a 10-year lease on the fully operational Dagoberto Barcelos processing plant for what appears to be a modest $43,000 monthly fee and a one-off payment of $1.36M. After a $1.97M refurb and small capital expenditure outlay at the mine site, local mine services firm Contrasaper will then be positioned to supercharge mining activities at the project. Contrasaper's imprimatur is to undertake contract mining at the project and transport the phosphate to feed the processing facility at Caçapava do Sul, one of the oldest municipalities in the state of Rio Grande Do Sul. Aguia Resources executive chairman Warwick Grigor said: 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project, confirming strong governmental and social support for the development. The proposed capital for the first stage of 100,000tpa of phosphate product is able to be fully funded with the availability of the bank finance. The facility will also be useful in partly financing the subsequent expansion to 300,000tpa, in due course.'
Sydney Morning Herald
17-06-2025
- Business
- Sydney Morning Herald
Aguia locks in $4M loan to kick-start Brazilian phosphate production
Aguia Resources has locked in a $4 million loan from the government-owned Southern Development Bank in Brazil to refurbish the company's recently leased processing plant and kick-start mining operations at its Tres Estradas phosphate project. The 20-year loan covers the initial $118,000 capital expenditure required to kick off mining activities and fund an estimated $1.97M needed to bring the plant up to speed to process an expected 100,000 tonnes of phosphate annually. The company is eyeing processing operations beginning in January next year on its organic phosphate product, dubbed Pampafos. Recent field trials showed Pampafos rivals the performance of top-shelf imported fertilisers at a fraction of their price. Aguia recently leased its plant in Caçapava do Sul from century-old agricultural limestone firm Dagoberto Barcellos SAS. The decision to lease a suitable facility may turn out to be a masterstroke, as it avoids the need for a capital raise for a new plant and its considerable associated shareholder dilution. 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project.' Aguia Resources executive chairman Warwick Grigor Aguia secured a 10-year lease on the fully operational Dagoberto Barcelos processing plant for what appears to be a modest $43,000 monthly fee and a one-off payment of $1.36M. After a $1.97M refurb and small capital expenditure outlay at the mine site, local mine services firm Contrasaper will then be positioned to supercharge mining activities at the project. Contrasaper's imprimatur is to undertake contract mining at the project and transport the phosphate to feed the processing facility at Caçapava do Sul, one of the oldest municipalities in the state of Rio Grande Do Sul. Aguia Resources executive chairman Warwick Grigor said: 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project, confirming strong governmental and social support for the development. The proposed capital for the first stage of 100,000tpa of phosphate product is able to be fully funded with the availability of the bank finance. The facility will also be useful in partly financing the subsequent expansion to 300,000tpa, in due course.'
The Age
16-06-2025
- Business
- The Age
Aguia hits paydirt with first hole at Colombian gold project
The current drilling program is designed to target vein systems within a 7km-long mineralised corridor. Except for the first few holes, the drilling is planned to test near-surface mineralisation in holes that are shorter than 100m. Assays are pending. When the results are in, Aguia plans to map out the dip, strike and offset of the known gold-bearing veins for future mine planning and resource modelling. The gold at Santa Barbara seems to come from a mix of mesothermal and epithermal rocks, with signs of repeated mineral activity. The veins are found in pinkish rock, called San Lucas gneiss, which contain broken rock textures with coarse galena and yellow sphalerite - both are signs of a strong gold system. The project's vein system appears to be showing striking similarities to two of Colombia's biggest gold hitters, the Segovia and Buriticá mines. When Canadian outfit Continental Gold unveiled its maiden resource at Buriticá in 2011, it stunned the market with 3.1 million ounces of gold and 11 million ounces of silver - all pulled from just 14 veins in the Yaraguá zone. Some of those veins were razor-thin at just 3cm wide and were often tightly packed within 50m of each other, much like Santa Barbara's mineralisation. It was no surprise when the company revealed an internal study in April estimating a jaw-dropping exploration target of two to four million tonnes of material grading up to 30g/t. Aguia Resources executive chairman Warwick Grigor said: 'We have always been confident that we can build on the earlier trial mining and testing program to develop a small but highly profitable underground gold mine. The real speculative appeal comes from the possibility that we could be sitting on a large high-grade gold resource.' To keep the momentum going and subject to success, Aguia is planning to bring a second drill rig in on the action to expand the program and target deeper extensions of the mineralised zones. Meanwhile, the past few months have been a hive of activity on site as Aguia busied itself with the restart of gold production. Underground, the old workings have been fully rehabbed with a fresh ventilation system, upgraded electricals and a slick new electric locomotive now running through the tunnels. Up top, the processing plant has had a facelift. It's now turning over 30 tonnes per day of ore, with a bump to 50tpd expected by July when a new primary crusher comes online. Perhaps the biggest win came six weeks ago, when Aguia cleared a key regulatory hurdle, locking in full government approval to sell its gold locally and internationally. With the green light in hand, the company has wasted no time cashing in - just as gold prices flirt with record highs of more than $5000 an ounce. With assays pending and the drills turning, Aguia is positioning itself for what could be a major gold discovery in the making. If grades come back as hoped, Santa Barbara might just turn from a speculative play into Colombia's newest underground gold story.
