Property lies within the Rocky Mountain Physiographic Province in southeastern Idaho, United States of America. The geologic units within the study area are generally marine sedimentary deposits that range from Pennsylvania to recent in age.

The local and project geology of the deposits of the Itafos Conda projects are generally similar in that they are structurally dominated by a series of northwest / southeast trending anticlines and synclines with thrust and normal faults disrupting the strata.

The Meade Peak Member of the Phosphoria Formation contains the phosphate ore within the Conda Projects and is overlain by the Rex Chert member and underlain by the Park City Formation. The Quaternary Alluvium is not very extensive and where present, is only about 5 ft to 20 ft thick.

The Meade Peak Member is broken into five mining zones throughout the Conda Projects where the Upper Phosphate and Lower Phosphate Zones are the primary phosphate mineralized zones. The significant mineralized zones encountered on the property are shown below:
- Upper Overburden Zone (Hanging Wall mud).
- Upper Phosphate Zone - Low/medium to high grade phosphate zone. Interbedded phosphorite, mudstone, siltstone, limestone, and shale.
- Center Interburden Zone – Shale and mudstone.
- Lower Phosphate Zone – Low to high grade phosphate zone. Interbedded phosphorite, mudstone, siltstone, limestone, and shale.
- Lower Underburden Zone (Footwall mud) – Reddish brown siltstone with black fossiliferous siltstone and some phosphorite.

The phosphate mineralization is sedimentary in nature, occurring in a conformable sequence of alternating phosphatic and weakly- to non-phosphatic shale, mudstone, carbonate, and chert beds within the Meade Peak Member of the Permian Phosphoria Formation. The Phosphoria Formation occurs within the Western Phosphate Field that occupies in excess of 135,000 square miles, spanning Eastern Idaho, Southern Montana, Western Wyoming, and northern half of Utah (Sheldon 1989).

The phosphate mineralization encountered in the Meade Peak Member is stratigraphic in nature and the deposit type is considered a typical example of a marine sedimentary phosphate deposit. The phosphate mineralization occurred during the primary depositional processes and there are no known secondary phases of phosphate mineralization or enrichment identified in the deposits.

The beds of the Meade Peak Member were deposited within a marine sedimentary basin within the Phosphoria Sea that marked the western margin of the North American craton approximately 250 Ma. During the period that the Meade Peak Member was being deposited, access to the open ocean was intermittently restricted by barrier islands during cyclical periods of eustatic sea level change resulting from periods of glaciation and deglaciation (Sheldon, 1984). This cyclical process resulted in the alternating beds of phosphatic shale and mudstone with layers of non-phosphatic shale, carbonate, and chert beds.

The phosphate mineralization within the Meade Peak Member consists of apatite pellets, oolites, and sand grains, some of which are further cemented together into clusters of pellets and grains in an apatite cement; the apatite within the Meade Peak is entirely in the form of carbonate fluorapatite (Altschuler et. al. 1958). Individual beds of the Meade Peak Member are laterally continuous over significant distances, with some beds commonly found distributed over tens of thousands of square miles within the Western Phosphate Field (Sheldon 1989); however, the thickness and geometry of the beds has been locally impacted on a deposit scale by both primary depositional variability as well as post-depositional structural modification due to both regional and deposit scale faulting and folding.

A combined RVM and LCM mine production schedule was prepared to provide 548 Kt dry of P2O5 annually to the CPP. The mine production schedule includes the existing temporary LCM stockpile and the RVM/LCM combined stockpile located at the WV Tipple.

Rasmussen Valley Mine
During operations, direct placement of overburden as pit backfill (concurrent reclamation) reduces the volume of material requiring re-handle post mining. Direct placement of overburden is not always possible as the volume of overburden and available volumes of open pit space are not always fully synchronized. As such the RVM will create overfill piles that will be placed on backfill during mining.

During 2021, Conda sourced ore from RV, which is expected to continue to supply ore to Conda through mid2026. LC mine reached its end of mine life in July 2020.

The Company is actively working on extending Conda’s current mine life through the safe and responsible development of H1/NDR, which is located within 15 miles of Conda’s production facilities. H1/NDR’s property encompasses an area of more than 1,000 acres and consists of two federal and one state phosphate leases that are being permitted as a single mine. H1/NDR is located near the center of the western phosphate field, which comprises one of the most extensive phosphorite formations in the US.

- subscription is required.

No ore processing occurs at any of the mineral projects. However, phosphate ores to be mined and delivered must be suitable for consumption by the CPP. Suitable for consumption means that delivered phosphate ores may be blended, if needed, and washed to meet certain quality characteristics required of the chemical plant feed. This Item includes information on the recovery methods use at the CPP Wash Plant that is used to process RVM and LCM ores to meet the requirements of the CPP. This Item also includes information on CPP Wash Plant upgrades that are likely to be needed to process mined tonnages delivered from the H1 and NDR mineral resources. The above is achieved by feeding the material to the Wash Plant at -8 inch, and subject it to horizontal scrubbing, sizing, crushing and grinding, classification, and dewatering unit operations.

Wash Plant
The Wash Plant comprises physical unit operations to separate the phosphate minerals from aluminum silicates, clays, quartz ........