Chatham Rock Phosphate Limited Analysis

Overview

Chatham Rock Phosphate, listed on the Toronto Venture Exchange and the New Zealand Alternative Market under ticker code "CRP", is an exploration and development company focused on becoming a diversified phosphate developer and trader. CRP holds an offshore mining permit over part of the Chatham Rise that contains significant rock phosphate deposits and intends to recover these from the sea floor using a modified dredge.

Chatham Rock Phosphate Limited reports its results in Canadian dollars.

Chatham Rock Phosphate Limited is also listed on the Frankfurt Stock Exchange under ticker 3GRE.

Performance

The following information was extracted from Chatham Rock Phosphate Limited's half year report, released on 2 December 2024:

The Company records losses each quarter/year arising from the expensing of its general and administration expenses. Periodic (at least annual) reviews of capitalized exploration expenditures are undertaken and write-offs and provisions are expensed to the Consolidated Statement of Comprehensive Income.

Significant Expenses of a Corporate Nature

For the three months ended September 30, 2024 the Group recorded a net loss before income taxes of $354,000 (2023: net loss of $413,000).

Liquidity and Capital Resources

The Company’s cash position as at September 30, 2024 was $54,000. Trade and other payables total $218,000. The Company’s existing share, option and warrant capital structure is set out at the end of this report under the heading of “Supplemental to the Financial Statements”.