PhosCo shares surge after securing key phosphate exploration permit in Tunisia

PhosCo Ltd. has made significant gains this week after receiving a key exploration permit in Tunisia. The company’s stock rose 102.5%, from 4 cents to 8.1 cents, following a memorandum of understanding with the Tunisian government and the European Bank for Reconstruction and Development. The Gassaat phosphate exploration permit includes a resource estimate of 146 million tonnes of phosphate. This approval follows the recent Sekarna permit approval, both crucial for developing Tunisia's northern phosphate hub. Trading volumes reached a yearly high, indicating strong investor interest. Other notable performers this week include Paradigm Biopharmaceuticals, which rose 87% after completing a key FDA review for a new osteoarthritis treatment, and AVJennings, which jumped 83% following an unsolicited takeover offer.