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Phosco Ltd ASX:PHO

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

31 Oct 2025 to today

Commentary Showing 2 of 4

DateManagerActionSummary

31 Jul 2026Lion Selection GroupHeldLion Selection Group continues to hold Phosco, its last legacy holding, a Tunisian rock-phosphate project expecting a scoping study in Q4 2026. The manager said it is focused on pathways to value realisation but does not yet consider the position ready for sale, with an investment cost of $4.8M versus a current holding value of $9.9M.

Quarterly Report, price recorded $0.13

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30 Apr 2026Lion Selection GroupHeldLion Selection Group continues to hold PhosCo as the sole remaining position in its legacy portfolio, following the 2025 disposal of holdings in Erdene Resource Development and Atlantic Tin. The manager notes PhosCo has performed strongly from its 2025 lows of 2.4 cents per share to recent highs of 16 cents, supported by major project ownership and technical milestones as well as financial backing from the European Bank of Reconstruction and Development.

Quarterly Report, price recorded $0.14

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on PHO.

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Articles

31 Jul 2026PhosCo Delivered a Multi-Bagger Return for Lion's Last Legacy Holding

About Phosco Ltd

Financials, Metals and Mining

PhosCo (ASX:PHO), a Tunisian phosphate developer, is Lion Selection Group's last legacy holding. In July 2026, Lion said PhosCo remains its last legacy holding, describing a Tunisian rock phosphate project expecting a scoping study in the fourth quarter of 2026. Lion explained the investment has been held for many years, from a time when it invested with a global mandate, and that its legacy portfolio was reduced to only this investment in 2025 after selling other holdings. PhosCo operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 4 comments from 1 fund manager, Lion Selection Group. PhosCo is an exploration and development company focused on the Chaketma phosphate project in Tunisia, a large rock phosphate resource intended to supply fertiliser markets, and is progressing studies and permitting toward development.

Market cap: $87m
Price to earnings: Loss-making
Return on equity: 51.1%
Dividend yield: 0.0%
Price to book: 24.20x
52-week range: $0.07 to $0.19

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Phosco Ltd (ASX:PHO)?

Fund managers including Lion Selection Group have invested in Phosco Ltd (ASX:PHO).

What opportunities or catalysts do fund managers highlight for Phosco Ltd?

Lion highlights an upcoming scoping study for the Chaketma phosphate project, which could clarify its development potential.

What are the key risks to the Phosco Ltd investment thesis, according to fund managers?

Lion describes PhosCo as a long-held legacy investment, and the project faces permitting, funding and sovereign risks in Tunisia.

What does Phosco Ltd (ASX:PHO) do?

PhosCo Ltd is an exploration and development company focused on mineral resources. The company holds interests in the Chaketma Phosphate, Green Shift, and Djebba & Zeflana Zinc projects. Founded on September 3, 2009, PhosCo Ltd is headquartered in Melbourne, Australia. This profile is relevant for investors reviewing company and fund manager commentary on mineral exploration and development assets.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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