Chatham Rock Phosphate Limited (TSX.V: NZP) interview with Chris Castle, CEO discussing the company’s rock phosphate project in New Zealand. Chris explains the unique economics of this project which can generate over $100 million in gross profit annually. In addition, there is the potential for extracting rare earth metals, whose value can even exceed that of the rock phosphate revenues. With a current market value of about $4 millon, Chris explains why this stock has “hundred bagger” potential once the environmental permit is in place.
The only significant barrier in the way, is the approval of an environmental permit from New Zealand authorities. Chris articulates the reasons why the permit was denied in the company’s first attempt, and what new factors are now in place which he believes will assure success this time.