First Phosphate (FRSPF): Why Agnico Eagle's Move Into Phosphate Could Re-Rate the Entire LFP Supply Chain

Send us Fan MailIn this episode of Small-Cap Spotlight, John Pasalacqua, CEO of First Phosphate, joins host Tim Gerdeman and WTR analyst Dmitry Silversteyn to unpack Agnico Eagle’s $95 million acquisition of Fox River Resources and what the move signals about the accelerating strategic interest in North American phosphate as a critical material for electrification.Pasalacqua outlines why First Phosphate’s singular focus on high‑purity igneous anorthosite in Quebec differentiates it from fertilizer‑oriented peers, and details the company’s fully validated mine‑to‑battery supply chain, the infrastructure advantages of the Bégin–La‑Marche resource, and a pathway to first production in 2029. With LFP now representing roughly 80% of global battery production and phosphate comprising more than 60% of the cathode by weight, he makes the case that North American supply chain independence begins with domestic phosphate.