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Enter Symbol
or Name
USA
CA



MBAC Fertilizer Corp
Symbol MBC
Shares Issued 181,607,492
Close 2014-09-17 C$ 0.185
Market Cap C$ 33,597,386
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MBAC produces 1,700 t SSP at Itafos in one day

2014-09-17 07:07 ET - News Release

Mr. Cristiano Melcher reports

MBAC FERTILIZER REACHES RECORD DAILY SSP PRODUCTION AT ITS ITAFOS OPERATIONS

MBAC Fertilizer Corp. has reached a new daily record production total of 1,700 tonnes of single superphosphate fertilizer at its Itafos operations in Brazil. In addition to establishing a new daily record, the 1,700-tonne total exceeds the daily expected production amount that Itafos was initially designed for.

"Our production ramp-up at Itafos is clearly advancing in the right, positive direction," said Cristiano Melcher, president and chief executive officer of MBAC Fertilizer. "Our progress since we resumed continuous operations in early September gives us confidence that we should reach commercial production in the coming weeks."

Production in the first half of September reached 9,165 tonnes of SSP and 6,488 tonnes of sulphuric acid in the period. Excluding the four days of lost production caused by the restocking of raw materials and spare parts, average daily production reached 833 tonnes per day.

Consistent with recent guidance, the company expects to achieve commercial production in the coming weeks. Commercial production rate is equivalent to a monthly production volume of 25,000 tonnes of SSP or approximately 60 per cent of nominal capacity.

MBAC also announced that in tandem with its production ramp-up it continues to explore financing arrangements, including the sale of non-core assets and other strategic short- and long-term alternatives that will enable the company to continue and accelerate the ramp-up at Itafos.

We seek Safe Harbor.

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