Putting The ‘P’ In LFP | First Phosphate

Описание: In this interview, we (Howard and Matt) speak with John Passalacqua, CEO of First Phosphate (CSE: PHOS) about the rapidly evolving lithium iron phosphate (LFP) battery supply chain and why phosphate remains one of the least understood — yet most important — inputs in LFP cathodes.

Chapters

(00:00) Introduction
(04:24) LFP Demand Shift
(05:59) Offtake Prepayment
(06:46) 2026 Feasibility Path
(07:45) Why High-Purity Phosphate
(10:47) LFP-First Strategy
(13:32) China Vs. The West
(15:54) Western Buildout Gaps
(18:30) Iron Phosphate Bottleneck
(22:21) Policy And Supply Chains
(24:55) Production Timeline
(25:48) Cash And Runway
(26:52) Macro And Stockpiling
(28:11) Wrap-Up

First Phosphate Website: https://firstphosphate.com/

We cover what’s changed since our December conversation, including a payment tied to an offtake arrangement, the company’s Quebec-focused, vertically integrated phosphate strategy, and what investors should watch over the next several quarters. John walks through the company’s 30,000-meter drill program (targeted to complete by April) and how results could support a 10–20% resource upgrade, alongside the stated goal of completing a feasibility study by the end of 2026.

We also discuss the broader market context: accelerating energy storage demand, the push to localize LFP supply chains outside China, and the often-overlooked role of purified phosphoric acid and iron phosphate in downstream battery production. John explains why First Phosphate is positioned differently from fertilizer-oriented phosphate producers and outlines key development timelines and capital position referenced in the discussion.

Topics include:

LFP batteries and energy storage demand (data centers, robotics)
Phosphate’s role in LFP cathode materials
Offtake prepayment and what it signals for bankability
Drill program progress and upcoming technical milestones
Feasibility study timeline and investor-relevant catalysts
Localization of North American LFP and iron phosphate supply chains

Sponsors

Lithium Royalty Corp (TSX: LIRC) - diversified lithium royalty portfolio.
(Website: https://www.lithiumroyaltycorp.com/ | X: https://x.com/Lithium_Royalty)

USCF Investments - commodity-focused ETFs (e.g., CPER copper, ZSB battery metals, USG gold, SDCI diversified commodities).
(Website: https://www.uscfinvestments.com/ | X: https://x.com/USCFInvestments)

Links

Strategic Lithium Reserve (SLR) White Paper: https://blog.rkequity.com/2025/12/08/...
Read Matt's research blog: https://blog.rkequity.com/
Sign up for the Lithium-Ion Bull newsletter/Matt's Blogs: https://rkequity.com/

Have a question? Drop us an email: [email protected]
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Podcast:
Apple Podcast: https://podcasts.apple.com/us/podcast...
Spotify: https://open.spotify.com/show/0KiMIZO...
X (Twitter):
Howard: https://x.com/LithiumIonBull
Rodney: https://x.com/RodneyHooper13
Matt: https://x.com/matt_fernley

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DISCLAIMER

NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH

Howard, Matt and Rodney are not financial advisors nor broker-dealers, this video is for information purposes only and should not be considered investment or financial advice. Please do your own independent research and read the disclaimer at the end of the video or on RK Equity's website https://www.rkequity.com

Intro and outro audio credit: Jamie Klein

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