Shares Of Chatham Rock Phosphate Trading At Much Higher Levels In Canada And Germany
Letter from Chris Castle, CEO Of Chatham Rock Phosphate Limited:
The Directors of Chatham Rock Phosphate note that our shares have been trading around 15-16 cents in NZ, but are trading at higher prices in our two overseas market listings.
In Canada on the TSX.V they traded today in a range of CAD 21-24 cents with total reported volume of 423,800 shares . CAD 24 cents is the equivalent of NZD 28.2 cents.
In Germany on the Frankfurt Bourse they are trading at 0.176 Euros, the equivalent of 25.3 NZD cents.
We confirm that all three markets are fully and equally informed except that New Zealand investors might not be aware of the stronger investor interest offshore.
It appears that overseas investors have been quicker to gain an understanding of the transformation that Chatham has achieved during the last twelve months.
We are no longer a single project company needing to overcome a permitting hurdle in order to put the Chatham Rise project into production, the group now encompasses a rapidly expanding group of onshore phosphate and rare earths projects in French Polynesia and Australia which are much closer to generating operating cash flows. We expect to generate operating revenues from Korella in calendar 2022.
Chief Executive Officer
Chatham Rock Phosphate Limited
Cell: +64 21 558 185