Recorded on April 17, 2026
CSE: PHOS | FSE: KD0 | OTCQX: FRSPF | OTCQX ADR: FPHOY
Steve Yang sits down with John Passalacqua, CEO and Director of First Phosphate Corp, to break down why management believes phosphate is one of the most overlooked materials in the LFP battery supply chain. The conversation covers the scale of the Bégin-Lamarche project in Saguenay Lac Saint Jean, how management frames the asset in battery terms, and why First Phosphate sees a mine to market strategy as its edge. John also explains the Quebec jurisdiction story, including workforce, roads, rail, hydroelectric power, and port access that could support a long-life industrial buildout. From there, the interview moves into government support, non-dilutive funding, cash runway, share structure, and how the company sees its positioning relative to other critical mineral stories. The back half of the discussion focuses on why phosphate has lagged lithium in investor attention, why management thinks that is changing now, and what catalysts could move the story forward. If you want a detailed look at battery-grade phosphate, LFP batteries, and the North American onshoring thesis behind First Phosphate, this interview goes deep. #Millettian
Key topics list
First Phosphate overview
Bégin-Lamarche project scale
Quebec infrastructure advantage
Government support and funding
Cash runway and share structure
Why phosphate matters in LFP batteries
Feasibility, permitting, and mine timeline
Upcoming catalysts
Guest or company links
Host Steve Yang Natural Resource Stocks
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https://twitter.com/TheSteveYang
https://www.linkedin.com/in/thesteveyang
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https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713
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Chapters
00:00 Cold open
01:27 Intro
01:56 Company name website and tickers
03:03 Mine to market strategy
04:20 Quebec support and government backing
05:19 Infrastructure and logistics
06:36 Asset scale and project upside
09:09 Feasibility, permitting, and mine timeline
11:03 Cash runway and share structure
14:57 Valuation and market disconnect
15:34 Why phosphate matters now
21:37 Catalysts and how to follow the story
24:11 Closing remarks
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