An independent business case for fertiliser company Chatham Rock Phosphate is expected to be released in the next few days and should put a figure on what the business is worth.
The company is working on a project to mine seabed phosphate for use as a fertiliser and is looking to secure another $10 million worth of investment to reach its target of $25 million to see it through until the end of 2014.
The firm will apply for a license at the end of this week to explore more than 4000 square kilometres of seafloor on the Chatham Rise, 450km east of Christchurch.
Chatham Rock chief executive Chris Castle says Edison Research is looking at the overall business case of what it will cost to extract the phosphate, where the product can be sold and what the risks are.
Mr Castle says the report could help attract investment.
"This is independent, it's been prepared by a reputable research house. We don't know what it's going to say.
"But we do expect ... that they will come up with a recommendation of what this business is really worth."
Mr Castle says the market value of the company is roughly $US20 million and expects the report's valuation to be a multiple of that figure.
