Proactiveinvestors United Kingdom Reward Minerals Ltd https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Reward Minerals Ltd RSS feed en Sun, 26 May 2019 04:07:24 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Reward Minerals focused on resource update and permitting at significant SOP project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11358/reward-minerals-focused-on-resource-update-and-permitting-at-significant-sop-project-11358.html Wed, 28 Nov 2018 22:01:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11358/reward-minerals-focused-on-resource-update-and-permitting-at-significant-sop-project-11358.html <![CDATA[News - Reward Minerals sets foundation for low capital intensity potash giant ]]> https://www.proactiveinvestors.co.uk/companies/news/156744/reward-minerals-sets-foundation-for-low-capital-intensity-potash-giant-66584.html Reward Minerals (ASX:RWD) is primed for a low capital intensity capital cost project development after its LD property in Western Australia ramped up resources to 564 million tonnes  of sulphate of potash (SOP).

SOP is high-quality strain of the fertiliser ingredient which is exceptionally marketable due to its practicality for farming in low-rainfall regions.

LD now has the largest and highest-grade undeveloped SOP brine resource in the world.

The resource is characterised by a 359 million tonne component in the higher-confidence indicated category, an average brine grade of 13.7 kilograms per cubic metre, a 1,241-square-kilometre flat dry lake surface area and high evaporation rates.

These attributes firmly establish the project as a tier-1 asset and are underpinning prefeasibility work at the site which is expected to outline an efficient operational model at a time when supply-demand dynamics in the potash space are becoming increasingly favourable to producers.

LD’s Scoping Study results have established the project as globally significant with a pre-tax net present value of A$534 million and a pre-tax internal rate of return of 37%.

Adjusted annual earnings are expected to be A$154 million at full production.

Importantly, the project is potentially the lowest capital intensity SOP development in the world, with total capex calculated at A$320 million.

Mine gate operating costs have been estimated at a low A$204 per tonne of SOP, thanks to a well-established SOP production process and the availability of logistics options in existing accessible roads and ports.

These metrics were based on conservative SOP price assumption of A$750 a tonne, while recent sales of the commodity have exceeded $1,000 a tonne.


Analysis

Reward’s recent resource update at LD is a major milestone for the company and sets up potential price catalysts as work progresses defining the extractability parameters of the resource brine.

Results from on-lake pumping trials are also expected to enhance the company profile in the short term.

LD’s cost metrics are a major factor in the company’s investment appeal, with the project seen as the lowest capital SOP development in the world with strong operational cost number set for further improvement in upcoming feasibility results.

Supply-demand dynamics in this space are favourable as market trends suggest few additional projects will be constructed in coming years despite demand tailwinds in the form of growing populations and food security issues.

Demand for potash has grown 2.8% per annum compounding over the past 10 years.

Reward is particularly well placed to grow in this context with a strong management team and a cash and equivalents balance of A$6.7 million as of the end of November – which offers a strong footing for ongoing advancements and optimisations of the LD plan.

Investor support for the macro potash story as well as for LD’s increasingly evident competitive advantages has been seen in price momentum for Reward shares, which have gained 12% in value since the start of the month and 30% year on year.

Upcoming catalysts could see further upside for the stock from updates that may include improved costs and de-risking progress from feasibility work as well as the announcement of results from ongoing testing of the newly enlarged resource’s processing characteristics.



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Fri, 15 Jan 2016 11:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156744/reward-minerals-sets-foundation-for-low-capital-intensity-potash-giant-66584.html
<![CDATA[News - Reward Minerals readies to deliver new potash resource ]]> https://www.proactiveinvestors.co.uk/companies/news/156743/reward-minerals-readies-to-deliver-new-potash-resource-65694.html Reward Minerals (ASX:RWD) has been granted a trading halt this morning pending the release of a Resource for the LD Sulfate of Potash Project.

The project is located in the north of Western Australia, and currently contains a 24.4 million tonnes Indicated SOP Resource at 12.37kg/m3 SOP in brine, from surface down to 4 metres depth.

Reward has been drilling to expand the existing SOP Resource at depth as well as confirm brine chemistry parameters for project development activities.

The halt will remain in place until the opening of trade on Monday 23rd November 2015, or earlier if an announcement is made to the market.

 

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Thu, 19 Nov 2015 13:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156743/reward-minerals-readies-to-deliver-new-potash-resource-65694.html
<![CDATA[News - Reward Minerals to reveal potash drilling results ]]> https://www.proactiveinvestors.co.uk/companies/news/156742/reward-minerals-to-reveal-potash-drilling-results-64026.html Reward Minerals (ASX:RWD) has some interesting news coming this week in the form of drilling results from the LD Potash Project in Western Australia.

Reward has been granted a trading halt by the ASX to prepare.

The project currently has a 24.4 million tonne potassium sulfate resource hosted in a geologically rare brine deposit from surface to an average of 4 metres depth.

Last month the company revealed that it had intersected high brine content sediments from surface to 83 metres.

The halt will remain in place until the opening of trade on Wednesday 19th August 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 17 Aug 2015 15:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156742/reward-minerals-to-reveal-potash-drilling-results-64026.html
<![CDATA[News - Reward Minerals to grow cash position ]]> https://www.proactiveinvestors.co.uk/companies/news/156741/reward-minerals-to-grow-cash-position-62967.html Reward Minerals (ASX:RWD) is preparing to reveal details of a capital raising.

The company is delineating and de-risking its LD Potash Project in Western Australia.

The LD Project currently has a 24.4 million tonne potassium sulfate (SOP)resource hosted in a geologically rare brine deposit from surface to an average of 4 metre depth.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Friday 19th June 2015, or earlier if an announcement is made to the market.


Scoping Study metrics

A Scoping Study suggests that the LD Project is globally significant with potentially the lowest capital intensity SOP project worldwide.

The total capital cost estimate is A$320 million, with a low mine gate operating costs of A$204/t SOP.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 17 Jun 2015 12:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156741/reward-minerals-to-grow-cash-position-62967.html
<![CDATA[News - Reward Minerals in halt ahead of exploration results from WA potash project ]]> https://www.proactiveinvestors.co.uk/companies/news/156740/reward-minerals-in-halt-ahead-of-exploration-results-from-wa-potash-project-62249.html Reward Minerals (ASX:RWD) has been granted an ASX trading halt in relation the release of exploration results from its LD Potash Project in Western Australia.

The halt will last until the earlier of the announcement being made or the start of trade on Tuesday, 12th May 2015.

In March, the company commenced drilling at the project to expand the existing high grade potassium sulfate resource at depth using its recently purchased heli-transportable coring rig.

Reward had $3 million in cash as at 31st March 2015 as well about $1 million in listed investments.

 

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Mon, 11 May 2015 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156740/reward-minerals-in-halt-ahead-of-exploration-results-from-wa-potash-project-62249.html
<![CDATA[News - Reward Minerals set to reveal Scoping Study ]]> https://www.proactiveinvestors.co.uk/companies/news/156739/reward-minerals-set-to-reveal-scoping-study-61563.html Potash company Reward Minerals (ASX:RWD) has been granted a trading halt by the ASX, pending the release of a Scoping Study.

Reward is focussed on the LD Project in Western Australia, and recently said that the Scoping Study parameters will assume:

– Brines are drawn from a combination of trenches and bores;
– Brines will be evaporated with salts then harvested and the raw harvest stockpiled; and
– Following processing SOP product is expected to be hauled on road trains to port.

The halt will remain in place until the opening of trade on Tuesday 7th April 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 02 Apr 2015 07:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156739/reward-minerals-set-to-reveal-scoping-study-61563.html
<![CDATA[News - Reward Minerals starts potash drilling in the Pilbara ]]> https://www.proactiveinvestors.co.uk/companies/news/156738/reward-minerals-starts-potash-drilling-in-the-pilbara-61222.html Reward Minerals (ASX:RWD) has started drilling at its LD Project in Western Australia’s Pilbara region to expand the existing high grade Potassium Sulfate resource at depth.

The project currently hosts a JORC 2004 Indicated Resource of 24.4 million tonnes at 12.37kg SOP/m3 of brine from surface to an average depth of only four metres.

Drilling by the company’s recently purchased heli-transportable coring rig will test the depth extension brines down to more than 100 metres.

This will in turn lead to the definition of an upgraded JORC 2012 compliant resource over a 96 square kilometre area, which is anticipated by the end of the second quarter.

Further drilling will deliver an Inferred Resource over the remaining area of the lake.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 12 Mar 2015 16:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156738/reward-minerals-starts-potash-drilling-in-the-pilbara-61222.html
<![CDATA[News - Reward Minerals to update Lake Waukarlycarly ]]> https://www.proactiveinvestors.co.uk/companies/news/156737/reward-minerals-to-update-lake-waukarlycarly-58233.html Reward Minerals (ASX:RWD) commenced a drilling program at Lake Waukarlycarly project earlier this month, which is located in Western Australia.

The company said at the time that 5 of 7 holes provided excellent brine flows, with some brine samples received and submitted for analysis, which are expected to be announced mid-October.

Today the ASX has granted the company a trading halt, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Monday 20th October 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 16 Oct 2014 15:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156737/reward-minerals-to-update-lake-waukarlycarly-58233.html
<![CDATA[News - Reward Minerals granted key potash tenements in Western Australia ]]> https://www.proactiveinvestors.co.uk/companies/news/156736/reward-minerals-granted-key-potash-tenements-in-western-australia-55740.html Reward Minerals (ASX:RWD) has had seven of eight tenements subject of the recent Land Access & Mineral Exploration Agreement for the Lake Waukarlycarly and Dora West Project areas granted by the WA Department of Mines & Petroleum.

Heritage Clearance Surveys are scheduled to be completed this week and drilling activities are programmed to commence as soon as practicable in areas cleared by the current Survey.

Program of Works applications have been prepared and will now be submitted to the DMP for the proposed drilling program at the Karly Project following grant of the final tenement.

Reward has also been awarded a grant under the Western Australian Government’s Exploration Incentive Scheme totalling $150,000 to support exploration at the Karly Project.

An update will be provided to shareholders upon the commencement of drilling at the Karly Project in the coming weeks.

Reward's Lake Disappointment project alone currently has an Indicated Resource of 24.4 million tonnes K2SO4, with potential to hold many multiples of that figure.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 20 Jun 2014 10:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156736/reward-minerals-granted-key-potash-tenements-in-western-australia-55740.html
<![CDATA[News - Reward Minerals to outline progress at Lake Disappointment ]]> https://www.proactiveinvestors.co.uk/companies/news/156735/reward-minerals-to-outline-progress-at-lake-disappointment-54492.html Reward Minerals (ASX: RWD) has been granted a trading halt by the ASX, with its shares placed in pre-open.

RWD requested the halt pending a progress report on its Lake Disappointment Potash Project, which is located in the northwest of Western Australia.

Earlier in the month reverse circulation drilling commenced at LD East, aiming to identify the quantity and K grade of regional brines within pumping distance of the existing LD Project resource.

The halt will remain in place until the opening of trade on Tuesday 29th April 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 24 Apr 2014 10:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156735/reward-minerals-to-outline-progress-at-lake-disappointment-54492.html
<![CDATA[News - Reward Minerals starts potash drilling at Lake Disappointment, Western Australia ]]> https://www.proactiveinvestors.co.uk/companies/news/156734/reward-minerals-starts-potash-drilling-at-lake-disappointment-western-australia-54360.html Reward  Minerals (ASX: RWD) has started the second phase of reverse circulation drilling at Lake Disappointment East in Western Australia to identify the availability of regional sources of Potash brines near the current resource.

The Lake Disappointment Potash Project currently has an Indicated Resource of 24.4 million tonnes K2SO4.

About eight holes are expected to be drilled to basement on circa 4 kilometre spacing about 70 kilometres northeast of Lake Disappointment. The program will be extended if results are encouraging.

Following the completion of drilling at LD East the rig will be relocated to Dora West where it will commence a drill program testing Palaeovalley depth and brine flows approximately 20 kilometres west of Lake Dora and 60 kilometres east of the Waukarlycarly embayment.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 15 Apr 2014 17:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156734/reward-minerals-starts-potash-drilling-at-lake-disappointment-western-australia-54360.html
<![CDATA[News - Reward Minerals to update on Lake Disappointment Potash Project ]]> https://www.proactiveinvestors.co.uk/companies/news/156733/reward-minerals-to-update-on-lake-disappointment-potash-project-54011.html Reward Minerals (ASX: RWD) has been granted an ASX trading halt in relation to its Lake Disappointment Potash Project in Western Australia.

The company had earlier this month started drilling at Lake Disappointment (LD) and Lake Disappointment East.

In addition, the maiden drill program at Lake Dora West is expected to begin in the coming weeks following Department of Mines approval of submitted programme of works.

Drilling will test areas surrounding the current Lake Disappointment resource and regional palaeovalley brine potential.

This will also enhance the understanding and interpretation of regional airborne electromagnetic anomalies compiled by Geoscience Australia.

Lake Disappointment currently has an Indicated Resource of 24.4 million tonnes K2SO4.

Reward’s shares will remain in pre-open until the earlier of the announcement being made or the start of normal trading on 2 April 2014.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 31 Mar 2014 17:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156733/reward-minerals-to-update-on-lake-disappointment-potash-project-54011.html
<![CDATA[News - Reward Minerals granted halt, raising capital ]]> https://www.proactiveinvestors.co.uk/companies/news/156732/reward-minerals-granted-halt-raising-capital-53127.html Potash-focussed Reward Minerals (ASX: RWD) is heading to market with a capital raising. The ASX has granted the company a trading halt today, with its shares placed in pre-open.

Reward is focused on Sulphate of Potash, and has an Indicated Resource of 24.4Mt SOP hosted at its Lake Disappointment project in Western Australia, within 4 metres from surface.

SOP makes up ~10% of global potassium fertiliser production.

The is the opportunity for domestic Australian supply, as there is currently no production in the country and we consume ~500ktpa of Potash.

The halt will remain in place until the opening of trade on Wednesday 26th February 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 24 Feb 2014 19:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156732/reward-minerals-granted-halt-raising-capital-53127.html
<![CDATA[News - Reward Minerals achieves encouraging recoveries from Lake Disappointment evaporation trial ]]> https://www.proactiveinvestors.co.uk/companies/news/156731/reward-minerals-achieves-encouraging-recoveries-from-lake-disappointment-evaporation-trial--45621.html Reward Minerals (ASX: RWD) has achieved an encouraging potassium recovery of 91.9% in a harvest grading 6.97% potassium after adding a fourth evaporation stage to its recent pilot evaporation trial of samples from its Lake Disappointment Potash Resource in Western Australia.

Recoveries of 80.2% in a harvest grading 8.06% potassium were achieved prior to addition of the fourth stage.
 
Importantly, the sodium chloride content of the harvest products were low at 9.95% and 11.5% NaCl respectively due to the back mixing of high magnesium chloride brine remaining from the late stages of the brine evaporation cycle.

A previous 10,000 litre pilot evaporation trial carried out by Reward at Sylvania Station earlier this year had resulted in NaCl content of between 29.8% and 63.5%.

The results demonstrate that this technique should prove very effective in processing Lake Disappointment brines for Potash recovery.
 
Reward noted that maintaining the NaCl content below 20% has the potential to eliminate the flotation stage from the currently proposed flowsheet as the NaCl will dissolve entirely during the milling/conversion stage.

This would result in a significant reduction in the capital and operating costs for the project.

Further testwork is in progress to optimise the brine evaporation parameters with the inclusion of the end brine and conversion brine recycle streams.

Reward has also engaged Simulus Engineers to revamp the flowsheet/Mass Balance/Plant Design calculations and commence the Lake Disappointment Project Scoping Study.

Lake Disappointment hosts an Indicated Resource of 24.4 million tonnes of potassium sulphate.

The chemistry is similar to the Great Salt Lake in that it is a high sulphate brine.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 16 Jul 2013 17:20:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156731/reward-minerals-achieves-encouraging-recoveries-from-lake-disappointment-evaporation-trial--45621.html
<![CDATA[News - Reward Minerals returns high potassium recoveries from Lake Disappointment ]]> https://www.proactiveinvestors.co.uk/companies/news/156730/reward-minerals-returns-high-potassium-recoveries-from-lake-disappointment-41780.html Reward Minerals (ASX: RWD) has received encouraging preliminary results from its pilot scale evaporation trial of brine from its Lake Disappointment Potash Resource in Western Australia.

The results show a high yield of potassium, with an overall recovery of 87.5% of the feed potassium to the bulk harvest.

Of the 87.5% recovery, 40% potassium recovery was achieved in Stage 3 Mixed Salt at a grade of 8.8%. 

A further 47.5% potassium recovery was achieved in Stage 2 Mixed Salt at a grade of 3.44%.

Combining Stage 2 and Stage 3 Mixed Salts the total harvest recovery of 87.5% provides a composite grade of 4.8%.

The trial continued for 180 days and the evaporation rate averaged 7 to 8mm per day.


Higher grade potential

The 8.8% potassium grade of the stage three harvest is high and demonstrates that high grade mixed salts can be achieved from evaporation of Lake Disappointment brines.

Reward believes the Potash grade of the total harvest can be significantly improved with tight control of the timing of brine-transfer to the Potash crystalliser ponds.

A higher grade harvest should also be achievable by back mixing of high MgCl2 end brines to the lake brine feeding the evaporation ponds.

The grade versus recovery parameters are not finalised as yet but it is expected that a recovery of a 6.5% potassium harvest at 70% recovery should be achievable.

Further laboratory scale trials are in progress to establish this commercial trade-off between harvest grade and overall potash recovery for the evaporation pond system.

Reward had around A$2.9 million in cash at the end of December 2012.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 09 Apr 2013 15:10:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156730/reward-minerals-returns-high-potassium-recoveries-from-lake-disappointment-41780.html
<![CDATA[News - Reward Minerals recovers more potash than expected at Lake Disappointment ]]> https://www.proactiveinvestors.co.uk/companies/news/156729/reward-minerals-recovers-more-potash-than-expected-at-lake-disappointment-40210.html Reward Minerals (ASX: RWD) has successful completed the potash harvest phase of its current pilot evaporation trial at Sylvania Station, Western Australia, recovering slightly more Potash Mixed Salt than predicted.

The trial, which was based on 10,000 litres of brine extracted from Lake Disappointment produced 825kg of crude Potash Mixed Salts.

This sample has been coarse crushed and blended to provide a uniform product.

Sample splits have been sent to several laboratories for chemical and mineralogical analysis.

Bulk samples will be dispatched by the end of this week to independent laboratories for the metallurgical testwork required to confirm/establish the process flowsheet for the Lake Disappointment Potash Project

Data is expected to be available within two to three weeks.

Reward will continue to carry out metallurgical testwork over the next 3 to 4 months but preliminary results of the key flotation testwork are expected within the next 3 to 4 weeks.

Should this be successful with high recoveries of Schoenite/Leonite intermediate product, it will finalise the flowsheet/mass balance parameters and proceed with final plant design.

Lake Disappointment hosts an Indicated Resource of 24.4 million tonnes of potassium sulphate.

The chemistry is similar to the Great Salt Lake in that it is a high sulphate brine.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 28 Feb 2013 17:50:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156729/reward-minerals-recovers-more-potash-than-expected-at-lake-disappointment-40210.html
<![CDATA[News - Reward Minerals given green light to begin WA potash development ]]> https://www.proactiveinvestors.co.uk/companies/news/156728/reward-minerals-given-green-light-to-begin-wa-potash-development--38018.html Reward Minerals (ASX: RWD) has received approval from the Minister for Indigenous Affairs to begin the first round of works at the Lake Disappointment Potash Project in Western Australia.

Initial works will include construction of the access road, exploration camp, pilot evaporation ponds and conduct of the resource evaluation/upgrade phase of the project.

Lake Disappointment hosts an Indicated Resource of 24.4 million tonnes of potassium sulphate.

The chemistry is similar to the Great Salt Lake in that it is a high sulphate brine.

Brine samples drawn from drill holes returned SOP values up to 20g/L, with the average 12.2g/L. Heavy brine flow was encountered in all holes.

A mining lease was granted for Lake Disappointment in October 2012, and a Native Title agreement was finalised in December.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 10 Jan 2013 15:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156728/reward-minerals-given-green-light-to-begin-wa-potash-development--38018.html
<![CDATA[News - Reward Minerals secures Native Title agreement for Western Australian potash project ]]> https://www.proactiveinvestors.co.uk/companies/news/156727/reward-minerals-secures-native-title-agreement-for-western-australian-potash-project--37648.html Reward Minerals (ASX: RWD) will now move ahead with the exploration and feasibility stages for its Lake Disappointment potash project in Western Australia after securing a key agreement.

The Lake Disappointment Project Mining and Indigenous Land Use Agreement has now being registered by the National Native Title Tribunal on the Register of Indigenous Land Use Agreements.

This covers commercial terms and commitments by Reward in respect of cultural and heritage matters, employment and contracting of Martu people in the project development.

Reward had previously being awarded a Mining Lease and a Miscellaneous Licence covering the project.

Lake Disappointment has an Indicated Resource of 24.4 million tonnes of Potassium Sulfate based on 30 holes drilled on a 5 kilometre by 5 kilometre grid.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 21 Dec 2012 16:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156727/reward-minerals-secures-native-title-agreement-for-western-australian-potash-project--37648.html
<![CDATA[News - Reward Minerals awarded Lake Disappointment mining lease ]]> https://www.proactiveinvestors.co.uk/companies/news/156726/reward-minerals-awarded-lake-disappointment-mining-lease-34342.html Reward Minerals (ASX: RWD) has been granted the key mining lease for its Lake Disappointment Potash project, allowing it proceed with the first stage development.

The award of Mining Lease 45/1227 covering 3,469 hectares by the Western Australia Department of Mines and Petroleum also paves the way for the grant of Miscellaneous Licence L45/302 shortly.

This will allow Reward to begin installation of access roads and camp facilities.

It also forms part of the Mining and Indigenous Land Use Agreement between Reward and the Martu people, allowing the company to register the agreement as an Indigenous Land Use Agreement.

Lake Disappointment has an Indicated Resource of 24.4 million tonnes of Potassium Sulfate based on 30 holes drilled on a 5 kilometre by 5 kilometre grid.

Reward plans to complete infill drilling on 2 kilometre by 2 kilometre grid this year to upgrade resource status for feasibility studies.

 

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Thu, 11 Oct 2012 09:00:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156726/reward-minerals-awarded-lake-disappointment-mining-lease-34342.html
<![CDATA[News - Reward Minerals receives Heritage Approval recommendation for Lake Disappointment ]]> https://www.proactiveinvestors.co.uk/companies/news/156725/reward-minerals-receives-heritage-approval-recommendation-for-lake-disappointment-32875.html Reward Minerals (ASX: RWD) has received a long awaited recommendation from Western Desert Lands Aboriginal Corporation that Heritage Approval be granted for the Lake Disappointment Potash project.

Heritage Approval will complete the outstanding conditions of the Mining and Indigenous Land Use Agreement and paves the way for the registration and granting of mining licences for the project.

Reward has advised the WDLAC that it will comply with the conditions of the December 2011 agreement and the February 2012 Clearance Area Survey Report and to satisfy the commercial terms previously agreed to under the MILUA in December 2011.

It will proceed with payment of agreed costs and issue of the first tranche of Reward Options to WDLAC as required under the MILUA.

The relevant agreement documents will also be lodged shortly with the Native Title Tribunal for Registration as an Indigenous Land Use Agreement.

Reward has also prepared a Section 18 application for approval to establish an access track, exploration camp, pilot evaporation ponds and to conduct infill drilling of the Lake Disappointment Cleared Area.

The Miscellaneous Licence 45/302 required for the project access track is covered by the company’s recent application for Exploration Licence 45/4090 of 156 square kilometres that will extend its current Lake Disappointment project tenements north to the Talawana Track.

In 2007, Reward Minerals announced a JORC Indicated Resource of 24.4 million tonnes of Potassium Sulfate (Sulfate of Potash – SOP) within Lake Disappointment in the north west of Western Australia.

Lake Disappointment lies wholly within the Martu Lands Determination Area.

 

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Wed, 29 Aug 2012 13:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156725/reward-minerals-receives-heritage-approval-recommendation-for-lake-disappointment-32875.html
<![CDATA[News - Reward Minerals in pre open pending announcement relating to Lake Disappointment ]]> https://www.proactiveinvestors.co.uk/companies/news/156724/reward-minerals-in-pre-open-pending-announcement-relating-to-lake-disappointment--28844.html Reward Minerals (ASX: RWD) has been granted a trading halt by the ASX pending an announcement regarding the company’s Lake Disappointment Potash Project.

The company gave no indication of the nature of the announcement, but said it expected to make an announcement within 24 hours.

In March Reward advised that a Definitive Heritage Survey had been completed for the project, with no new exclusion zones or sites of significance believed to have arisen.

Reward shares will remain in pre open until the earlier of the release of an announcement to the market or the commencement of normal trading on Wednesday May 16.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 14 May 2012 13:40:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156724/reward-minerals-in-pre-open-pending-announcement-relating-to-lake-disappointment--28844.html
<![CDATA[News - Reward Minerals resumes trading after WDLAC discuss Lake Disappointment Potash project ]]> https://www.proactiveinvestors.co.uk/companies/news/156723/reward-minerals-resumes-trading-after-wdlac-discuss-lake-disappointment-potash-project-19802.html Reward Minerals (ASX: RWD) has been reinstated to official quotation and will commence trade on the bell this morning, after releasing an update on the very interesting but often difficult Lake Disappointment Potash project.

Reward has updated the market that the Annual General Meeting of Western Desert Lands Aboriginal Corporation (WDLAC), the representative PBC for the Martu people, was held at Parngurr last week - and importantly - the agenda included Reward’s Lake Disappointment Potash project.

Michael Ruane, a director of Reward, presented a detailed outline of the project and Reward’s proposals to the Martu people addressing heritage, cultural and commercial considerations proposed by Reward for the development of potash recovery operations at Lake Disappointment.

The outcome is two resolutions were passed, which included:

1) That the Martu people instruct WDLAC to continue talks with Reward Minerals about the Lake Disappointment Project; and

2) That the Martu elders meet in the near future to specifically discuss the Lake Disappointment Project.

WDLAC will now coordinate the necessary meetings to give effect to meetings resolutions, and has undertaken to organise the meeting of the Martu elders as a matter of priority.

Reward has undertaken to submit a draft Mining Agreement to WDLAC incorporating the terms and conditions proposed by Reward for the Lake Disappointment Project for WDLAC’s consideration.


Backstory - Lake Disappointment

In 2007, Reward Minerals announced a JORC Indicated Resource of 24.4 million tonnes of Potassium Sulfate (Sulfate of Potash – SOP) within Lake Disappointment in the north west of Western Australia.

Lake Disappointment lies wholly within the Martu Lands Determination Area.

Although the company executed a term sheet agreement with the Martu, Traditional Owner representative body WDLAC in March 2008, the execution of a Mining Agreement was not achieved at that time and the Lake Disappointment Potash project has remained dormant since then.

 

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Tue, 20 Sep 2011 07:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156723/reward-minerals-resumes-trading-after-wdlac-discuss-lake-disappointment-potash-project-19802.html
<![CDATA[News - Reward Minerals in pre-open pending Lake Disappointment negotiations ]]> https://www.proactiveinvestors.co.uk/companies/news/156722/reward-minerals-in-pre-open-pending-lake-disappointment-negotiations--19669.html Reward Minerals (ASX: RWD) has been granted a trading halt by the ASX pending the release of details regarding negotiations at the company's Lake Disappointment Potash Project, with the company's shares placed in pre-open.

Reward said that the negotiations are from the annual general meeting of the Martu.

The halt will last until the earlier of the details made available to the market, or the commencement of trade on Monday 19 September.


Backstory - Lake Disappointment

In 2007, Reward Minerals announced a JORC Indicated Resource of 24.4 million tonnes of Potassium Sulfate (Sulfate of Potash – SOP) within Lake Disappointment in the north west of Western Australia.

Lake Disappointment lies wholly within the Martu Lands Determination Area.

Although the company executed a Term sheet agreement with the Martu, Traditional Owner representative body WDLAC in March 2008, the execution of a Mining Agreement was not achieved at that time and the Lake Disappointment Potash project has remained dormant since then.

 

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Thu, 15 Sep 2011 12:24:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156722/reward-minerals-in-pre-open-pending-lake-disappointment-negotiations--19669.html
<![CDATA[News - Reward Minerals raises $4.5m to advance and explore potash projects ]]> https://www.proactiveinvestors.co.uk/companies/news/156721/reward-minerals-raises-45m-to-advance-and-explore-potash-projects--15704.html Reward Minerals (ASX: RWD) has raised $4.5 million through a placement of 5 million shares at $0.90 in order to fund the advancement of potash recovery operations at the company’s Lake Disappointment and Lake Mackay Projects in Western Australia.

The company will also use the raised funds to further potash exploration at Reward’s Carnarvon and Adavale buried evaporates targets.

Currently negotiating with Traditional Owner groups, Reward is seeking their approval to continue operations at Lake Disappointment and Lake Mackay.

The placement is being made under the company’s 15% capacity.

Lake Disappointment comprises seven exploration licenses covering 1,600 square kilometres.

Located in Queensland, Adavale hosts a large salt deposit that contains potash in some areas.

 

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Thu, 21 Apr 2011 15:21:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156721/reward-minerals-raises-45m-to-advance-and-explore-potash-projects--15704.html
<![CDATA[News - Reward Minerals focused on potash, to launch 'material capital raising' program ]]> https://www.proactiveinvestors.co.uk/companies/news/156720/reward-minerals-focused-on-potash-to-launch-material-capital-raising-program-15668.html Reward Minerals (ASX: RWD) is operating in the red hot sector of potash, and has been granted a trading halt by the ASX pending a 'material capital raising' announcement, with the company's shares placed in pre-open.

Reward has not yet indicated where the potential new inflow of funds will be spent, but has recently created investor interest and a big run up in the stock price after potash negotiations with traditional owners.

Earlier in the month Reward reached the execution stage in negotiations with the Western Desert Lands Aboriginal Corporation (WDLAC), representing the Martu Traditional Owners, regarding compensation for potash mining at the company’s Lake Disappointment Project in Western Australia.

WDLAC must consult and seek approval with the Martu Traditional Owners before mining operations can begin.

A total of 30 drill holes determined that Lake Disappointment lakebed sediments are from 3 metres to 10 metres thick.

The highest level JORC Indicated Resource at the Lake Disappointment Project was; 8,635 million tonnes for 27.37 million tonnes of potash.

The company has appointed Azure Capital and its affiliate Indigenous Investment Management as advisers to assist in discussions with the Martu Traditional Owners on the Lake Disappointment Project.

 

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Wed, 20 Apr 2011 15:01:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156720/reward-minerals-focused-on-potash-to-launch-material-capital-raising-program-15668.html
<![CDATA[News - Reward Minerals shares soar after potash negotiations with traditional owners ]]> https://www.proactiveinvestors.co.uk/companies/news/156719/reward-minerals-shares-soar-after-potash-negotiations-with-traditional-owners-15190.html Reward Minerals (ASX: RWD) has reached the execution stage in negotiations with the Western Desert Lands Aboriginal Corporation (WDLAC), representing the Martu Traditional Owners, regarding compensation for potash mining at the company’s Lake Disappointment Project in Western Australia.

WDLAC must consult and seek approval with the Martu Traditional Owners before mining operations can begin.

A total of 30 drill holes determined that Lake Disappointment lakebed sediments are from 3 metres to 10 metres thick.

The highest level JORC Indicated Resource at the Lake Disappointment Project was; 8,635 million tonnes for 27.37 million tonnes of potash.

The company has appointed Azure Capital and its affiliate Indigenous Investment Management as advisers to assist in discussions with the Martu Traditional Owners on the Lake Disappointment Project.

Reward shares have ridden the potash re-rating rollercoaster recently, after hitting $1.40 last week, well off the $0.25 low in mid-2010.

The shares last traded at $1.01.

 

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Mon, 04 Apr 2011 14:38:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/156719/reward-minerals-shares-soar-after-potash-negotiations-with-traditional-owners-15190.html
<![CDATA[News - Reward Minerals tells ASX that potash may be behind 44% share spike ]]> https://www.proactiveinvestors.co.uk/companies/news/156718/reward-minerals-tells-asx-that-potash-may-be-behind-44-share-spike-14420.html Reward Minerals (ASX: RWD) received a price and volume speeding ticket from the ASX today due to the 44% share spike to $0.85 in intra-day trade, up from $0.59 a day before.

The company said there is no material information that has not been released to the market which may explain the sudden investor interest.

The company did however state back to the ASX:

'The primary focus of Reward Minerals is on potash discovery and production for fertilizer use.

'We note that many stocks in this field of endeavour have attracted market attention in recent times resulting in significant price and volume movements.'

To provide an insight into the re-rating of potash companies recently, Fortis Mining (ASX: FMJ) this week hit $3.98, compared to just $0.21 three months ago, with South Boulder Mines last week trading to $6.25, up from $0.26 just one year ago.

Reward eased slightly in afternoon trade to close at $0.78.

 

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Fri, 04 Mar 2011 16:07:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/156718/reward-minerals-tells-asx-that-potash-may-be-behind-44-share-spike-14420.html