Expected TTR Licence Approval and New Zealand Law Changes Ensure Chatham Marine Phosphate Project Has More Permitting Confidence

"A deposit of phosphate nodules is on the Chatham Rise approximately 450 kilometres to the east of Christchurch in the South Island of New Zealand. The deposit contains sufficient rock phosphate to supply New Zealand’s phosphate fertilizer needs for at least 20 years. It was first investigated commercially 50 years ago by Global Marine, followed by JBL Minerals in the early 1970’s. NZ and German government research and industry groups then took it up again, with major field programs in 1978 and in the early 1980s.Due to difficult global and local economic conditions the project ground to a halt in 2004.The project was resurrected in 2007 when Chatham Rock Phosphate applied for a prospecting licence. This was granted in 2010 and a successful subsequent mining permit approval followed in 2013. The initial application for the separately required environmental permit was declined in February 2015.A lot has changed then and the significance of this will be the subject of the presentation. Chatham Rock Phosphate is confident that an environmental permit will be successfully granted next time."