Proactiveinvestors United Kingdom Salt Lake Potash Ltd https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Salt Lake Potash Ltd RSS feed en Sat, 20 Jul 2019 14:31:39 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Notice of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190703070010_14134785/ Wed, 03 Jul 2019 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190703070010_14134785/ <![CDATA[Media files - Salt Lake Potash to begin BFS at Lake Way SOP Project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13893/salt-lake-potash-to-begin-bfs-at-lake-way-sop-project-13893.html Thu, 27 Jun 2019 11:46:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13893/salt-lake-potash-to-begin-bfs-at-lake-way-sop-project-13893.html <![CDATA[News - Salt Lake Potash begins commercial-scale SOP evaporation at Lake Way ]]> https://www.proactiveinvestors.co.uk/companies/news/222624/salt-lake-potash-begins-commercial-scale-sop-evaporation-at-lake-way-222624.html Salt Lake Potash Ltd (ASX:SO4) has begun pumping high-grade brine from the Williamson Pit into a commercial-scale Sulphate of Potash (SOP) brine evaporation pond at its Lake Way Project in WA.

This follows completion of construction of the Williamson Ponds with pond dimensions of 2.5 kilometres by 0.5 kilometres.

These ponds have been designed to receive 1.2GL of high-grade SOP brine from the Williamson pit with de-watering underway and scheduled for completion in the September quarter of 2019.

Precipitation of salts started immediately upon pumping into the evaporation pond.

READ: Salt Lake Potash completes placement to strategic investors to raise $20.5 million

Salt Lake Potash chief executive officer Tony Swiericzuk said: “It is very pleasing to see the high-grade Williamson pit brines being pumped into the commercial-scale SOP evaporation ponds.

“It’s a real milestone in the development of our Lake Way project and a first in the development of an exciting industry for Western Australia.

“Importantly, construction of the Williamson ponds has provided the team with invaluable data on both methodology and costs, which will feed into the BFS that is now well advanced and due to be completed during the September quarter.”

READ: Salt Lake Potash begins BFS after Lake Way Potash scoping study shows commercial viability

Precipitation of salts started to form upon pumping the brine into the evaporation pond.

The company will now be able to harvest first sales from the Williamson ponds which are expected to be utilised as initial feedstock for processing.

Having recently completed a scoping study, Salt Lake Potash is well underway with a bankable feasibility study and is targeting completion in quarter-three 2019.

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Mon, 24 Jun 2019 12:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222624/salt-lake-potash-begins-commercial-scale-sop-evaporation-at-lake-way-222624.html
<![CDATA[RNS press release - Commencement of Commercial Scale SOP Evaporation ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190624070150_14120972/ Mon, 24 Jun 2019 07:01:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190624070150_14120972/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190620102359_14118240/ Thu, 20 Jun 2019 10:23:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190620102359_14118240/ <![CDATA[News - Salt Lake Potash substantial shareholder increases interest to 15.01% ]]> https://www.proactiveinvestors.co.uk/companies/news/222387/salt-lake-potash-substantial-shareholder-increases-interest-to-1501-222387.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) substantial shareholder Lombard Odier Asset Management (Europe) Limited (LOAME) has increased its interest in the sulphate of potash (SOP) developer to 15.01%.

LOAME now holds more than 35 million shares in the company on the ASX after a series of purchases in May and June increased the interest from 11.55%.

The London-based investor has purchased 11.214 million shares purchased in five transactions with a total value of more than £3.334 million.

Shares at high levels

Shares are trading at A$0.76 after reaching a 12-month high of $A0.83 last Friday.

READ: Salt Lake Potash completes placement to strategic investors to raise A$20.5 million

Salt Lake has this week completed a placement to strategic investors for gross proceeds of A$20.25 million.

Proceeds will be used to fund ongoing development of the Lake Way SOP Project in Western Australia.

This work includes development of on-lake infrastructure, payment of deposits on certain process plant long-lead items, completion of a bankable feasibility study (BFS) and general working capital.

READ: Salt Lake Potash begins BFS after Lake Way Potash scoping study shows commercial viability

Having completed a scoping study for a commercial scale 200,000 tonnes per annum SOP development, Salt Lake is focused on completing the BFS in quarter-three 2019.

Salt Lake Potash intends for Lake Way to be the first salt lake brine SOP production operation in Australia.

The scoping study was based on a mineral resource estimate amounting to 8.2 million tonnes of SOP calculated using drainable porosity and 73 million tonnes using total porosity.

Results indicate Lake Way would generate strong economic returns due to its low capital intensity bottom quartile operating costs and sustainable mining life.

Advanced discussions for development funding with a debt provider are continuing and the company is moving into front end engineering design, utilising experience gained from construction of the initial evaporation ponds.

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Wed, 19 Jun 2019 15:35:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222387/salt-lake-potash-substantial-shareholder-increases-interest-to-1501-222387.html
<![CDATA[RNS press release - Company Presentation ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190619072543_14116286/ Wed, 19 Jun 2019 07:25:43 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190619072543_14116286/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190618134501_14115392/ Tue, 18 Jun 2019 13:45:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190618134501_14115392/ <![CDATA[News - Salt Lake Potash completes placement to strategic investors to raise $20.5 million ]]> https://www.proactiveinvestors.co.uk/companies/news/222280/salt-lake-potash-completes-placement-to-strategic-investors-to-raise-205-million-222280.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has completed the placement to strategic investors of 37.5 million shares to raise gross proceeds of A$20.25 million for the ongoing construction of the Lake Way Project.

Construction works include the development of on-lake infrastructure, the payment of deposits on certain process plant long-lead items, completion of the bankable feasibility study (BFS) and general working capital.

READ: Salt Lake Potash secures A$20.2 million to fund potash project construction

The company is delighted to have attached a consortium of highly experienced and successful natural resources investors including the founders of LionOre Mining International at a pivotal time in the development of the Lake Way Project.

Having completed a scoping study for a commercial scale 200,000 tonnes per annum sulphate of potash devilment at Lake Way, Salt Lake is focused on completing the BFS in quarter-three 2019.

READ: Salt Lake Potash begins BFS after Lake Way Potash scoping study shows commercial viability

This follows the binding commitments the company received on June 6 to place A$20.25 million worth of shares priced at 54 cents.

Salt Lake’s immediate focus is on the rapid Lake Way Project development, intended to be the first salt lake brine sulphate of potash (SOP) production operation in Australia.

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Tue, 18 Jun 2019 12:02:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222280/salt-lake-potash-completes-placement-to-strategic-investors-to-raise-205-million-222280.html
<![CDATA[RNS press release - Appendix 3B and Additional Issue of Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190618070014_14114160/ Tue, 18 Jun 2019 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190618070014_14114160/ <![CDATA[RNS press release - Appendix 3B and Issue of Placement Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190614072718_14111120/ Fri, 14 Jun 2019 07:27:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190614072718_14111120/ <![CDATA[RNS press release - Results of Scoping Study at Lake Way ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190613070013_14109043/ Thu, 13 Jun 2019 07:00:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190613070013_14109043/ <![CDATA[News - Salt Lake Potash begins BFS after Lake Way Potash scoping study shows commercial viability ]]> https://www.proactiveinvestors.co.uk/companies/news/222023/salt-lake-potash-begins-bfs-after-lake-way-potash-scoping-study-shows-commercial-viability-222023.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has demonstrated the economic potential of its Lake Way Project through a scoping study for the commercial-scale development of its Western Australian sulphate of potash (SOP) project.

The study was based on the mineral resource estimate for Lake Way reported in March, amounting to 8.2 million tonnes of SOP calculated using drainable porosity and 73 million tonnes using total porosity.

Results of the study indicate Lake Way would generate strong economic returns due to its low capital intensity bottom quartile operating costs and sustainable mining life.

In London trading, shares in Salt Lake potash were 3.6% higher at 37.0p.

READ: Salt Lake Potash secures $20.2 million to fund potash project construction

A bankable feasibility study is now underway after the scoping study’s positive outcome, with its advanced nature allowing the company to fast-track the BFS and aim for completion within this quarter.

Advanced discussions for development funding with a debt provider are continuing and the company is moving into front end engineering design, utilising experience gained from the construction of the initial evaporation ponds.  

SO4 has started constructing the first phase of evaporation ponds which will support the dewatering of the Williamson Pit’s super saturated brine, which has an SOP grade of 25 kilograms per cubic metre.

Salts from the Williamson Pit brine will be utilised for plant commissioning expected in quarter four 2020.

  READ: Salt Lake Potash signs access agreement with Blackham Resources for Lake Way Project

The commercial-scale development envisioned in Lake Way’s scoping study involves an annual production rate of 200,000 tonnes a year of premium-grade sulphate of potash and a high-grade resource underpinning a mine life of 20 years.

Free-on-board operating cost is estimated at $264 a tonne, the lowest operating cost for global producers.

The project will also have low development capital requirements of $237 million including a growth allowance of about 13%, supported by close infrastructure.

Estimated project post-tax net present value is $381 million, or $580 million pre-tax, with a post-tax internal rate of return of 27%, or 33% pre-tax.

The low capital cost combined with strong cashflow result in a payback period of 3.2 years.

READ: Salt Lake Potash retains speculative buy recommendation from Taylor Collison

SO4 appointed GR Engineering Services Limited (ASX:GNG) as lead engineer, which will work a number of industry experts including Wood Saskatoon.

The BFS will include:

Further drilling and trenching programs to increase resource definition and confidence levels for the Lake Way resource including lake playa and paleochannel;

Additional test work at Saskatchewan Research Council (SRC) on the process flow sheet including completion of two pilot plant test runs;

A review KCI opportunity and determine the options for the possible inclusion of a KCI reaction within the SOP plant process;

Refining a logistics solution and identification of preferred constructors;

Updating trench hydraulic analysis and optimisation of trench design in partnership with Cardno;

Incorporating findings from the first phase of evaporation pond construction into the design and construction methodology for the commercial-scale project;

Ongoing design and refinement of the process plant, including partnering with vendors for major equipment including crystallisers to conduct test work relevant to their equipment.

READ: Salt Lake Potash grows Lake Way SOP resource to 73 million tonnes

Lake Way is in the northern Goldfields region of WA, less than 15 kilometres south of Wiluna.

SO4 holds five exploration licences, two of which are granted and three under application, covering most of Lake Way, select areas off-lake and the paleochannel defined by previous exploration.

The Lake’s northern end is covered by several mining leases held by Wiluna Gold Mine owner Blackham Resources Limited (ASX:BLK).

-- Adds London share price --

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Thu, 13 Jun 2019 00:27:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/222023/salt-lake-potash-begins-bfs-after-lake-way-potash-scoping-study-shows-commercial-viability-222023.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190606164108_14102069/ Thu, 06 Jun 2019 16:41:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190606164108_14102069/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190606163548_14102061/ Thu, 06 Jun 2019 16:35:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190606163548_14102061/ <![CDATA[News - Salt Lake Potash secures A$20.2mln to fund potash project construction ]]> https://www.proactiveinvestors.co.uk/companies/news/221601/salt-lake-potash-secures-a202mln-to-fund-potash-project-construction-221601.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has received binding commitments to place A$20.25mln worth of shares priced at 54 cents each.

Funds will go towards ongoing construction of the Lake Way Project which commenced in March 2019.

This includes the development of on-lake infrastructure, the payment of deposits on certain process plant long-lead items, completion of feasibility studies, and general working capital.

Placement attracts consortium of experienced investors

A number of reputable investors participated in the placement including the founders of LionOre Mining, key investors in Mantra Resources at its inception and Salt Lake’s major shareholder.

LionOre was bought by Norilsk Nickel for US$6.3bn in 2007, whilst Mantra Resources was sold to Rosatom in 2010 for A$1.02bn.

Salt Lake said it was delighted to have attracted a consortium of highly experienced and successful natural resources investors at a pivotal time in the rapid development of its Lake Way Project.

It expects to benefit from advice and collaboration with the consortium, including substantial management, global finance and project development expertise, as well as access to their commodities marketing networks.

READ: Salt Lake Potash non-executive director makes $300,000 share purchase

Salt Lake Potash is the owner of nine large salt lakes in the Northern Goldfields Region of Western Australia.

The immediate focus is on the rapid development of the Lake Way Project, intended to be the first salt-lake brine sulphate of potash (SOP) production operation in Australia.

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Thu, 06 Jun 2019 12:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221601/salt-lake-potash-secures-a202mln-to-fund-potash-project-construction-221601.html
<![CDATA[RNS press release - Strategic Placement to Fund Lake Way Development ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190606070005_14100460/ Thu, 06 Jun 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190606070005_14100460/ <![CDATA[News - Salt Lake Potash in trading halt ahead of capital raising news ]]> https://www.proactiveinvestors.co.uk/companies/news/221510/salt-lake-potash-in-trading-halt-ahead-of-capital-raising-news-221510.html Salt Lake Potash Ltd (ASX:SO4) has capital raising news imminent and has been granted a trading halt by the ASX.

The halt will remain in place until the beginning of trade on Friday, June 7, 2019, or when an announcement is released to the market, whichever occurs earliest.

Salt Lake Potash shares last traded at 54 cents.

READ: Construction now underway at Salt Lake Potash’s Lake Way Project

Having obtained the grant of relevant permits in April 2019, the company began the first phase of construction works at its Lake Way Brine Project in Western Australia.

The project is estimated to contain more than 80 million tonnes of sulphate of potash at very high grades.

Salt Lake Potash also entered into a binding split commodity and access agreement with Blackham Resources Ltd (ASX:BLK) in relation to the Lake Way project.

READ: Salt Lake Potash signs access agreement with Blackham Resources for Lake Way Project

Under the new agreement the company will acquire Blackham’s brine rights and Blackham will acquire gold rights to Salt Lake Potash’s Lake Way holdings, with each company retaining a royalty on their respective holdings.

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Wed, 05 Jun 2019 11:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221510/salt-lake-potash-in-trading-halt-ahead-of-capital-raising-news-221510.html
<![CDATA[RNS press release - ASX Trading Halt ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190605070002_14098670/ Wed, 05 Jun 2019 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190605070002_14098670/ <![CDATA[News - Salt Lake Potash non-executive director makes $300,000 share purchase ]]> https://www.proactiveinvestors.co.uk/companies/news/220363/salt-lake-potash-non-executive-director-makes-300000-share-purchase-220363.html Salt Lake Potash Ltd (ASX:SO4) non-executive director Matthew Syme, its former chief executive officer, has acquired 750,000 shares in the company for $300,000.

The transaction came about through the exercise of incentive options priced at 40 cents and increases Syme’s holding in the company to 5.25 million shares.

READ: Construction now underway at Salt Lake Potash’s Lake Way project

Salt Lake Potash is the owner of nine large salt lakes in the Northern Goldfields Region of Western Australia.

The immediate focus is on the rapid development of the Lake Way Project, intended to be the first salt-lake brine sulphate of potash (SOP) production operation in Australia.

Construction commenced in March 2019 on Australia’s first commercial scale on-lake evaporation ponds.

The construction of the initial Lake Way Ponds is on track to be completed by the end of the current June quarter.

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Thu, 16 May 2019 08:45:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220363/salt-lake-potash-non-executive-director-makes-300000-share-purchase-220363.html
<![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190515094121_14074810/ Wed, 15 May 2019 09:41:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190515094121_14074810/ <![CDATA[News - Construction now underway at Salt Lake Potash’s Lake Way project ]]> https://www.proactiveinvestors.co.uk/companies/news/219357/construction-now-underway-at-salt-lake-potashs-lake-way-project-219357.html Salt Lake Potash Ltd (LON:SO4) ended the quarter to 31 March 2019 with A$6.8mln cash in hand.

The company’s estimated expenditure for the current quarter was put at A$6.2mln, of which A$2.5mln is earmarked for exploration and A$2.5mln for development work.

READ: Salt Lake Potash to direct share of $12 million cash toward Lake Way in Goldfields

A$1.5mln is set aside for staff costs.

The main focus of work remains the Lake Way brine project in Western Australia, which is now estimated to contain more than 80mln tonnes of sulphate of potash at very high grades.

Construction for the first phase of operations at Lake Way is now underway, following the granting of the relevant permits.

 

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Tue, 30 Apr 2019 10:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219357/construction-now-underway-at-salt-lake-potashs-lake-way-project-219357.html
<![CDATA[RNS press release - March 2019 Appendix 5B ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190430070017_14056359/ Tue, 30 Apr 2019 07:00:17 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190430070017_14056359/ <![CDATA[RNS press release - Appointment of Joint Broker ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190418140002_14046806/ Thu, 18 Apr 2019 14:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190418140002_14046806/ <![CDATA[News - Salt Lake Potash signs access agreement with Blackham Resources for Lake Way Project ]]> https://www.proactiveinvestors.co.uk/companies/news/218102/salt-lake-potash-signs-access-agreement-with-blackham-resources-for-lake-way-project-218102.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has entered into a binding split commodity and access agreement with Blackham Resources Ltd (ASX:BLK) in relation to the development of the Lake Way Project.

Background

Lake Way Project is a high-grade salt-lake brine sulphate of potash (SOP) operation in the northern goldfields region of Western Australia. The surface area of the Lake is over 270 square kilometres.

The northern end of the Lake is largely covered by a number of mining leases held by Blackham, the owner of the Wiluna Gold Mine.

READ: Salt Lake Potash well on track with development work at Lake Way

Under the new agreement, Salt Lake Potash will acquire Blackham’s brine rights and Blackham will acquire gold rights to Salt Lake Potash’s Lake Way holdings, with each company retaining a royalty on their respective holdings.

Lake Way tenements

The Agreement is binding on Salt Lake Potash and Blackham with the key terms including:

• Salt Lake Potash to receive a 2% royalty on all gold production from the Salt Lake Potash tenements;

• Blackham to receive a 4% royalty on all Brine production (including SOP) from the Blackham tenements;

• Salt Lake Potash to make a rehabilitation liability payment of $500,000 to Blackham by June 30, 2019. This amount is deductible from future brine royalties;

• Salt Lake Potash is required to achieve the following construction and production milestones:

- Completion of the de-watering of the Williamson Pit by July 31, 2019;

- Commence the construction of the SOP processing plant by June 30, 2020; and

- Achieve first commercial production of SOP by December 31, 2021.

READ: Salt Lake Potash begins constructing Australia’s first commercial on-lake SOP evaporation ponds

Salt Lake Potash commenced the construction of the first phase of the Lake Way evaporation ponds at the start of March 2019.

The first phase of evaporation ponds will enable the de-watering of the Williamson Pit.

Construction works for the Lake Way Evaporation ponds are progressing well with the company moving into 24-hour operations and are on target for completion in Q2 2019.

The de-watering of the Williamson Pit will commence in Q2 2019 once the first phase of the evaporation ponds is complete.

Preparation of pipeline for dewatering of the Williamson Pit brine

Onsite preparation works have commenced for de-watering activity including preparation and welding of the pipeline.

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Mon, 08 Apr 2019 12:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218102/salt-lake-potash-signs-access-agreement-with-blackham-resources-for-lake-way-project-218102.html
<![CDATA[RNS press release - Salt Lake Potash and Blackham Resources Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190408070007_14031655/ Mon, 08 Apr 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190408070007_14031655/ <![CDATA[News - Salt Lake Potash retains speculative buy recommendation from Taylor Collison ]]> https://www.proactiveinvestors.co.uk/companies/news/218025/salt-lake-potash-retains-speculative-buy-recommendation-from-taylor-collison-218025.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) recently revealed a significant extension to the SOP (sulphate of potash) resource at Lake Way in Western Australia.

The new resource will enable the company to finalise technical studies for a larger production scenario with an anticipated release date towards the end of Q2 2019.

Taylor Collison has maintained its coverage on Salt Lake Potash with a speculative buy recommendation and a revised NPV (net present value) based price target of $1.21 per share.

Following is an extract from Taylor Collison’s research report:

Investment Highlights

• Salt Lake Potash (SO4) enjoys a capex advantage through its ability to use unlined evaporation ponds and the infrastructure available in the Goldfields region. The location of the Goldfields Salt Lakes Project (GSLP) also suggests an opex advantage over competitors with more remote projects.

• SO4 has a (relatively) new MD and has strengthened its development team with three senior appointments – all ex-FMG, as is the MD.

• Despite the July 2018 release of the Scoping Study into a Demonstration Plant at Lake Way, we can’t make the economics work at that scale and we assume a production level of 200ktpa as per the Lake Wells Stage 1 Scoping Study. SO4 has confirmed it is “reviewing a larger scale scenario”, with technical results expected in the current half. SO4 is currently constructing the initial ponds at Lake Way.

• We note the MD’s performance rights are all based around 200ktpa levels – something the 50ktpa Demonstration Plant does not envisage. The recent appointment of executives from FMG means SO4 now has in-house experience of “continuous” development. We would be very surprised if the executives had been appointed to oversee a Demonstration scale development.

• SO4 has now demonstrated it can produce salts from both Lake Wells and Lake Way, and has demonstrated SOP production from Lake Wells salts, with Lake Way SOP production pending.

• SO4 now has MOUs in place with Mitsubishi Corporation (Mitsubishi, April 2018) and Sinofert Holdings Limited (Sinofert, October 2018). In both cases the MOU agreements include the provision of strategic advice on marketing - key, in our view.

• We maintain coverage on Salt Lake Potash (SO4) with a Speculative Buy recommendation and a revised NPV based Price Target of $1.21/share, subject to review as the development pathway is clarified.

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Fri, 05 Apr 2019 16:39:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218025/salt-lake-potash-retains-speculative-buy-recommendation-from-taylor-collison-218025.html
<![CDATA[RNS press release - Company Presentation ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190325070012_14013416/ Mon, 25 Mar 2019 07:00:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190325070012_14013416/ <![CDATA[News - Salt Lake Potash grows Lake Way SOP resource to 73 million tonnes ]]> https://www.proactiveinvestors.co.uk/companies/news/216592/salt-lake-potash-grows-lake-way-sop-resource-to-73-million-tonnes-216592.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has revealed a significant extension to the resource at Lake Way in Western Australia following completion of an exploration program across the whole of the lake.

The estimated total resource at Lake Way has increased to 73 million tonnes (Mt) of SOP (sulphate of potash) calculated using total porosity and 8.2Mt of SOP calculated using drainable porosity.

Resource table

Salt Lake chief executive officer Tony Swiericzuk said: “It is extremely pleasing to present the Lake Way mineral resource estimate for the ‘whole of lake” that confirms the significant size and very high-grade resource at Lake Way.

“It reinforces our current review process to consider a larger scale scenario at Lake Way and we anticipate releasing the technical results of the larger scale scenario towards the end of Q2 2019.”

Williamson Pit

Lake Way has been confirmed as having high-grade consistent brine chemistry both laterally and at depth, with an average grade of 14.5 kilogram of SOP per cubic metre of brine across the tenements.

Salt Lake has successfully delineated a paleochannel in excess of 30 kilometres in length along the eastern boundary of Lake Way, which supports the ability and optionality to produce brine from two separate sources (lake playa and paleochannel).

Bore test pumping at lake way

Furthermore, test pumping of historical bores at Lake Way has provided important data that supports efficient production by pumping from the paleochannel resource.

Future work

The new resource will enable Salt Lake Potash to finalise technical studies for a larger production scenario with an anticipated release date towards the end of Q2 2019.

The company will continue the exploration program at Lake Way as it looks to increase the resource definition in the southern section of the lake and ultimately convert the resource estimate into ore reserves following further technical studies.

Meanwhile, construction of the first phase of the Lake Way Evaporation Ponds is progressing well.

READ: Salt Lake Potash begins constructing Australia’s first commercial on-lake SOP evaporation ponds

The first phase will enable de-watering of the Williamson Pit. The utilisation of the Williamson Pit brine will accelerate Salt Lake Potash’s pathway to first production of SOP at Lake Way.

In a note to clients, analysts at ‘house’ broker Shore Capital in London said: “Today’s ‘whole of lake’ estimates compare well with Lake Way’s exploration targets from March 2018 of 28-54Mt SOP TP or 2.7-19Mt DP.

“More importantly, from our point of view, our conservative NPV10% valuation of £120mln for an illustrative Lake Way 200ktpa production scenario was predicated on drainable lakebed sediment and palaoechannel SOP resources of at least 2.5Mt and 1.5Mt being delineated.”

In afternoon trading in London, shares in Salt Lake Potash were 7% higher at 30.50p.

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Mon, 18 Mar 2019 12:25:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216592/salt-lake-potash-grows-lake-way-sop-resource-to-73-million-tonnes-216592.html
<![CDATA[RNS press release - SOP Resource Delineated at Lake Way ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190318070006_14005027/ Mon, 18 Mar 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190318070006_14005027/ <![CDATA[News - Salt Lake Potash well on track with development work at Lake Way ]]> https://www.proactiveinvestors.co.uk/companies/news/216478/salt-lake-potash-well-on-track-with-development-work-at-lake-way-216478.html In the half-year to 31 December 2018 interims, Salt Lake Potash Ltd (LON:SO4) (ASX:SO4) has confirmed that progress continues apace at the Lake Way brine sulphate of potash project in Australia.

Construction of the initial ponds and the dewatering of the Williamson pit are likely to be completed by the end of the current quarter.

READ: Salt Lake Potash to direct share of $12 million cash toward Lake Way in Goldfiel ds

In addition, discussions are on-going with a number of offtake partners, who will no doubt be interested in the results of the ongoing pilot plant process testwork, which is expected to produce high-grade SOP.

The company has previously reported having A$12mln of cash at the period end, with outgoings for the March 2019 quarter expected to be A$5.45mln.

In a morning note released after the results were made public, broker Shore Capital stated that it believes Salt Lake Potash “has the potential to become one of the world’s major SOP producers.”

The broker envisages a multi-lake integrated operation potentially producing up to around one million tonnes of SOP.

As it stands, Salt Lake Potash holds licences over its nine salt lakes. 

Work is now well advanced to enable the company to deliver a resource estimate for the lake bed brine and the paleochannel aquifer for the 100% owned Salt Lake tenements. This “whole of lake” estimate will enable the company to examine larger production scenarios.

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Thu, 14 Mar 2019 11:59:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216478/salt-lake-potash-well-on-track-with-development-work-at-lake-way-216478.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190314070029_14001585/ Thu, 14 Mar 2019 07:00:29 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190314070029_14001585/ <![CDATA[News - Salt Lake Potash substantial shareholder lifts stake to 11.55% ]]> https://www.proactiveinvestors.co.uk/companies/news/215963/salt-lake-potash-substantial-shareholder-lifts-stake-to-1155-215963.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) substantial shareholder Lombard Odier Asset Management (Europe) Limited (LOAME) has increased its holding to 11.55% from 8.73%.

The London-based investor increased its stake by acquiring 5.808 million shares in February and March with a total value of more than £1.28 million.

Most of these, more than 5.662 million, were acquired in one transaction on March 4 valued in excess of £1.247 million.

LOAME now holds more than 23.833 million shares in the sulphate of potash (SOP) project developer.

READ: Salt Lake Potash begins constructing Australia’s first commercial on-lake SOP evaporation ponds

This week Salt Lake announced that it was beginning construction of Australia’s first commercial on-lake evaporation ponds at its Lake Way SOP Project near Wiluna in Western Australia.

The first phase of the evaporation ponds will facilitate de-watering of the Lake Way Williamson Pit that contains the highest-grade brine resource in Australia.

Lake Way’s initial ponds will have the capacity to hold 1.2 gigalitres of Williamson Pit brine at an average SOP grade of 25 kilograms per cubic metre for the equivalent of 32,000 tonnes of premium SOP.

READ: Salt Lake Potash to direct share of $12 million cash toward Lake Way in Goldfields

During the December quarter, the company increased cash reserves by 305% to support a resource update and feasibility study work for Lake Way.

The company added A$9.1 million to its cash reserves after an A$13 million capital raising from high-quality investors, including its managing director and CEO Tony Swiericzuk and chairman Ian Middlemas.

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Thu, 07 Mar 2019 13:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215963/salt-lake-potash-substantial-shareholder-lifts-stake-to-1155-215963.html
<![CDATA[News - Salt Lake Potash begins constructing Australia’s first commercial on-lake SOP evaporation ponds ]]> https://www.proactiveinvestors.co.uk/companies/news/215873/salt-lake-potash-begins-constructing-australias-first-commercial-on-lake-sop-evaporation-ponds-215873.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has started constructing the first evaporation ponds at its Lake Way Sulphate of Potash (SOP) Project near Wiluna in Western Australia.

The first phase will enable de-watering of the Lake Way Williamson Pit that contains the highest-grade brine resource in Australia.

Lake Way's initial ponds, which will be the country's first commercial-scale on-lake SOP ponds, will have the capacity to hold 1.2 gigalitres of Williamson Pit brine at an average SOP grade of 25 kilograms per cubic metre.

This contains the equivalent of 32,000 tonnes of premium SOP.

READ: Salt Lake Potash to direct share of $12 million cash toward Lake Way in Goldfields

Chief executive officer Tony Swiericzuk said: “It is a very exciting time for Salt Lake Potash as we begin construction on Australia’s first commercial-scale on-lake evaporation pond system.

“This is a key milestone for not only Salt Lake Potash but also for the creation of the new SOP industry within Australia.

“We will continue to progress works at Lake Way on both the construction of the first phase of evaporation ponds and on the exploration of the 'whole of the lake' development options, which we believe will underpin a globally significant SOP operation.”

READ: Salt Lake Potash hails initial success in evaporation trials at Lake Way SOP project

The utilisation of the Willamson Pit brine will accelerate Salt Lake Potash’s pathway to first production of SOP at Lake Way.

Construction of the initial Lake Way ponds is planned to be completed by the end of the June quarter of 2019 with de-watering of the Williamson Pit expected to begin towards the end of June.

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Wed, 06 Mar 2019 14:01:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215873/salt-lake-potash-begins-constructing-australias-first-commercial-on-lake-sop-evaporation-ponds-215873.html
<![CDATA[RNS press release - Construction Begins on SOP Evaporation Ponds ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190306070006_13991486/ Wed, 06 Mar 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190306070006_13991486/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190305143836_13991060/ Tue, 05 Mar 2019 14:38:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190305143836_13991060/ <![CDATA[RNS press release - Change of Registered Office ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190208070758_13962628/ Fri, 08 Feb 2019 07:07:58 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190208070758_13962628/ <![CDATA[News - Salt Lake Potash to direct share of $12 million cash toward Lake Way in Goldfields ]]> https://www.proactiveinvestors.co.uk/companies/news/213817/salt-lake-potash-to-direct-share-of-12-million-cash-toward-lake-way-in-goldfields-213817.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) increased cash reserves by 305% in the December quarter to support a resource update and feasibility study work for its Lake Way Sulphate of Potash (SOP) Project in the Western Australian Goldfields.

The Perth-based company added $9.1 million to its cash reserves in December quarter 2018 after a $13 million capital raising from high-quality investors who included its new managing director & CEO Tony Swiericzuk and chairman Ian Middlemas.

READ: Salt Lake Potash hails initial success in evaporation trials at Lake Way SOP project

The multi-listed company shared its December 2018 quarterly report with markets this week after spending $1.7 million on exploration and evaluation during the period.

Salt Lake directed $3.1 million to operating activities and $138,000 to investing activities while netting $12.3 million from financing activities.

The company ended the year with $12 million in cash and cash equivalents.

Speaking at the time of the placement announcement, Swiericzuk said: “We are very pleased to have received such strong support from new and existing shareholders to fund the construction of the initial on-lake infrastructure at Lake Way.

“These activities are on the critical path to enabling SO4 to become the first Australian commercial producer of SOP in a global sector with outstanding potential.

“This strong support from investors endorses our view that the Goldfields Salt Lakes Project (now the Lake Way project) has enormous potential for value creation and we now look forward to rapidly delivering on this potential for all shareholders and stakeholders.”

The company tipped $5.5 million in cash outflows for March quarter 2019 in its quarterly report on Thursday.

 

The company will utilise the funds it raised from high-quality investors as it pursues a busy work program at Lake Way and two other lake projects.

Salt Lake’s flagship project Lake Way is in WA’s Northern Goldfields area near Wiluna, a town featured in Phillip Noyce’s award-winning film Rabbit-Proof Fence.

Lake Way has a mix of tenements — its own Salt Lake tenements which it 100%-owns and the old Williamson open pit ground at Lake Way held by Wiluna gold miner Blackham Resources Ltd (ASX:BLK) (FRA:NZ3) (OTCMKTS:BKHRF).

Well-funded Salt Lake and developer-producer Blackham have an agreement that lets the SOP explorer access the old Williamson pit and ground and the site’s high-quality brine.

READ: Salt Lake Potash to benefit from WA government initiative for development of potash industry

Writing its quarterly report this week, Salt Lake said: “Access to Blackham’s existing mining leases provides advanced permitting pathway for early development activity, including the construction of the Williamson ponds.

“The company is concurrently progressing the imminent construction of the Williamson ponds, whilst also rapidly advancing a whole-of-lake scenario, including mineral resource estimates, permitting and approvals, pilot-plant process test work and assessment of infrastructure and logistical options.

“The Williamson ponds will be the first operational-scale SOP evaporation ponds built on a salt lake in Australia — an important part of the staged de-risking and development at Lake Way and across the company’s portfolio of salt lakes in the Northern Goldfields region.”

The collaborators have been working cooperatively together at Lake Way project and Blackham’s restarted Matilda-Wiluna gold-mining operation.

Their collaboration means they have the potential to share costs, facilities and infrastructure for their projects going forward.

Salt Lake and Blackham's tenements at Lake Way, a brine-lake project once part of the company's wider Goldfields Salt Lakes Project

Resource estimate

In the December quarter, Salt Lake and its contractors wrapped up field work to support an upcoming whole-of-lake resource estimate for Lake Way.

The current estimate only includes Blackham’s tenements.

Six per cent of published resources for the project fall into the measured category and are found in Williamson open pit brine at the old pit owned by Blackham and accessed by Salt Lake.

Brine volume is 1.26 million cubic metres with 11.4 kilograms potassium concentrate per cubic metre, 14.47 kilogram magnesium concentrate per cubic metre and 48 kilograms sulphate concentrate per cubic metre for 32,000 tonnes of SOP.

READ: Salt Lake Potash crosses a milestone towards developing ground-breaking Australian sulphate of potash project

The remaining ninety-four per cent of the company’s current resource estimate is in the indicated category and comes from sediment-hosted brine at Blackham’s Lake Way tenements.

The brine’s playa area is 55.4 square metres and lakebed sentiment volume is 290 million cubic metres while its brine concentration is 6.9 kilograms potassium per cubic metre, 4.6 kilograms magnesium per cubic metre and 28.3 kilograms sulfate.

Totally porosity is 0.43 for a 125 million cubic metre brine to achieve 1.9 million tonnes SOP.

Drainable porosity is 0.11 for 31.9 million cubic metres brine volume of 490,000 tonnes of SOP.

The project’s new resource estimate is expected to be used in future feasibility studies for the Lake Way project which had been the subject of a July 31 scoping study.

Salt Lake Potash's tenements north of Kalgoorlie-Boulder which had collectively formed the Goldfields Salt Lakes Project

Beefed up senior executive and project execution teams

Former Fortescue Metals Group Limited (ASX:FMG) (FRA:FVJ) (OTCMKTS:FSUGY) (OTCMKTS:FSUMF) executive of nine years Swiericzuk joined Salt Lake as its MD-CEO on November 5.

The respected mining engineer has a reputation for building and operating projects and was the general manager of Christmas Creek iron ore mine in the Pilbara region for the major Australian producer FMG chaired by high-profile Australian entrepreneur Andrew Forrest.

During Swiericzuk’s early years at FMG he oversaw the group’s port operations at a key port in the Pilbara region, Port Hedland, as it ramped up from 20 to 80 million tonnes a year.

READ: Salt Lake Potash secures $13 million to advance sulphate of potash project

Swiericzuk took a close look at the company before joining it, saying in October: “A deep dive into Salt Lake Potash’s high-quality technical work, business model and relationships has convinced me that it is easily the best company to lead the development of the sector in Australia.

“Its multi-lake holdings in proximity to the Goldfields infrastructure is paramount and offers great potential to achieve cost savings and economies of scale, as we did in the iron ore sector.”

Processing and NPI director Peter Cardillo, civil project director Lloyd Edmunds and technical project director Stephen Cathcart were also hired in the December quarter and bring with them a wealth of technical, operations, process infrastructure and construction expertise.

Other projects in Salt Lake’s portfolio

Salt Lake’s other two projects are also found in the Goldfields-Menzies region and are Lake Ballard and Lake Minigwal.

A mineral resource estimate is underway for Lake Ballard, 15 kilometres north of Menzies, which has a playa with a 698 square kilometre surface area.

READ: Salt Lake Potash enters MOU for long-term supply of sulphate of potash

Lake Minigwal in the Northern Goldfields is about 80 kilometres southeast of Laverton, the town once known as the British Flag.

During the December quarter Salt Lake commissioned extensive gravity geophysics over Lake Minigwal’s various branches, as part of a preliminary investigation into the location of the paleochannel and its depth to basement.

The company also has tenements, granted and under application, at Lake Wells, Lake Marmion, Lake Irwin, Lake Noondie, Lake Barlee, Lake Raeside, Lake Austin and Lake Moore in Western Australia.

In the Northern Territory, Salt Lake has the granted Lake Lewis tenement.

Major shareholders

Multi-listed Salt Lake has a market capitalisation of $91.1 million (£50.54 million).

Salt Lake had 175,049,596 shares on issue and 2,123 shareholders on August 31, at the time it put together its annual report for the financial year ended June 30.

The company’s top 20 shareholders had 64.6% of the company at the time.

Among the major shareholdings was the 24.81% stake represented by Salt Lake’s UK share registry Computershare Clearing Pty Ltd.

Significant shareholder Lombard Odier Asset Management Europe Limited (LOAME)’s was the top holder of ordinary shares with a declared holding of 17,071,000 shares registered to UBS.

READ: Salt Lake Potash reveals positive scoping study results for sulphate of potash plant

Major shareholder Arredo Pty Ltd had the second largest holding with 6.28% while third-largest shareholder Citicorp Nominees Pty Limited had 5.03%.

Rounding out the top five were Pershing Australia Nominees Pty Ltd, with 4.58% minor stake, and Howitt Mgmt Pty Ltd, on 2.64%.

Salt Lake sUBSequently raised $13 million from institutional and sophisticated investors in the December quarter, including MD & CEO Swiericzuk and chairman Ian Middlemas.

After the raising FIL Limited declared it had become a sUBStantial holder in the company on December 5, with a 5.04% stake.

LOAME’s stake later declined to 8.73% of shares on issue by January 9 although the wealth manager had increased the number of shares in its holding.

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Fri, 01 Feb 2019 00:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213817/salt-lake-potash-to-direct-share-of-12-million-cash-toward-lake-way-in-goldfields-213817.html
<![CDATA[RNS press release - December 2018 Appendix 5B ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190131070011_13952742/ Thu, 31 Jan 2019 07:00:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190131070011_13952742/ <![CDATA[RNS press release - December 2018 Quarterly Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190131070009_13952738/ Thu, 31 Jan 2019 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190131070009_13952738/ <![CDATA[News - Salt Lake Potash hails initial success in evaporation trials at Lake Way SOP project ]]> https://www.proactiveinvestors.co.uk/companies/news/213483/salt-lake-potash-hails-initial-success-in-evaporation-trials-at-lake-way-sop-project-213483.html Comprehensive field evaporation trials at the Lake Way project owned by Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) are successfully producing substantial volumes of potassium harvest salts, validating the modelled salt production process.  

Field evaporation trials have to date produced over two tonnes of high-grade harvest salts at Lake Way.

READ: Salt Lake Potash to benefit from WA government initiative for development of potash industry

Over 100,000 litres of brine from both the high-grade Lake Way playa brine and the super high-grade Williamson Pit brine have been extracted for the field trial and evaporated separately.

Both brines have rapidly produced quality harvest salts amenable for conversion to Sulphate of Potash (SOP).

The company is focused on developing Lake Way in the first Sulphate of Potash (SOP) production operation in Australia.

Lake Way has the highest grade SOP brine resource in Australia and the best infrastructure solution of potential Australian brine SOP producers.

Brine is sourced from a surface trench for the Lake Way Playa brine, or direct from the Williamson Pit and introduced into a halite pond.

As solar evaporation concentrates the brine, it progresses through a series of five ponds: two halite salt ponds, and then schoenite, kainite and carnallite salt ponds.

Very strong basis to continue the development

Harvested salt and brine samples are analysed at regular intervals through the evaporation process to gather data for model correlation. To date over 400 samples have been extracted and assayed at Bureau Veritas in Perth.

This provides the Company with a very strong basis to continue the development of the mass balance model and process flow sheet for the Lake Way Project.

The Company has engaged the world's leading potash processing laboratory, Saskatchewan Research Council, to establish a pilot plant based on the process flow sheet for the Lake Way project.

"I am very pleased with the continued development progress the project team is achieving at Lake Way,” said Salt Lake chief executive Tony Swiericzuk.

“The initial salt harvest from the Lake Way SET is a significant milestone. It validates our production model and allows us to refine the process parameters for plant design, as well as providing feed for the pilot plant. In parallel with the progress of plant design, rapid project development continues with site access construction underway and the whole of lake resource definition well advanced.”

Potential for even better

In late morning trading, shares in Salt Lake Potash were 2.1% higher at 24.20p.

In a note to clients, analysts at joint ‘house’ broker Shore Capital commented: “As currently modelled, on a post-tax basis, SLP’s Lake Wells still boasts the highest margin and fastest payback of its peer group (SOP projects in development), while our illustrative Lake Way scenario enjoys the second-highest margin and third-fastest payback.

“We believe there to be potential for even better in both cases.”

 — Adds share price, analyst comment —

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Tue, 29 Jan 2019 07:59:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213483/salt-lake-potash-hails-initial-success-in-evaporation-trials-at-lake-way-sop-project-213483.html
<![CDATA[RNS press release - Lake Way Field Trials Confirm Salt Prod'n Process ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190129070007_13949538/ Tue, 29 Jan 2019 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190129070007_13949538/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190114123001_13933808/ Mon, 14 Jan 2019 12:30:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190114123001_13933808/ <![CDATA[RNS press release - Completion of Placement and Directors' Holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190109070002_13928152/ Wed, 09 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20190109070002_13928152/ <![CDATA[RNS press release - Appendix 3Y Change of Director's Interest Notices ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181231070008_13918794/ Mon, 31 Dec 2018 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181231070008_13918794/ <![CDATA[RNS press release - Results of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181220070006_13910588/ Thu, 20 Dec 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181220070006_13910588/ <![CDATA[RNS press release - Government Support for Potash Industry Development ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181213095531_13902579/ Thu, 13 Dec 2018 09:55:31 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181213095531_13902579/ <![CDATA[News - Salt Lake Potash to benefit from WA government initiative for development of potash industry ]]> https://www.proactiveinvestors.co.uk/companies/news/211107/salt-lake-potash-to-benefit-from-wa-government-initiative-for-development-of-potash-industry-211107.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) has welcomed a Western Australian State Government initiative that commits to assisting in the development of a potash industry in WA.

The government will initially introduce a new rental rate for potash projects which will reduce the existing rate of mining leases from $18.70 per hectare to $2.32 per hectare in the first five years and to $4.64 per hectare in years following.

READ: Salt Lake Potash crosses a milestone towards developing Australia’s first sulphate of potash project

Salt Lake chief executive officer Tony Swiericzuk said: “The commitment by the government towards the development of the potash industry will provide significant benefits as we progress the Lake Way Project.

“We look forward to working with the government in the development of a new industry in Western Australia that will create vast opportunities to remote regions including Wiluna.”

READ: Salt Lake Potash secures $13 million to advance sulphate of potash project

The government initiative comes at an opportune time for Salt Lake which is accelerating works at its Lake Way Project.

Work includes construction of the Williamson Ponds and the ‘whole-of-lake’ resource program to enable the consideration of larger-scale production scenarios.

Construction equipment will be mobilising shortly and completion of the work program will result in the construction of Australia’s first commercial-scale sulphate of potash evaporation ponds.

Work is also underway to enable Salt Lake to report a resource estimate for the lake bed brine and the paleochannel aquifer for the whole lake, which will enable the company to examine larger production options.

READ: Salt Lake Potash enters MOU for long-term sulphate of potash offtake agreement

In a statement regarding the initiative, Mines and Petroleum Minister Bill Johnston MLA said the changes would assist in developing a new industry in WA and create employment and community development opportunities, particularly in remote Aboriginal communities.

Johnston added: “Potash projects generally have a mine life that spans 30-40 years, so this longevity is a win for local communities and sustaining jobs.”

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Wed, 12 Dec 2018 22:23:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211107/salt-lake-potash-to-benefit-from-wa-government-initiative-for-development-of-potash-industry-211107.html
<![CDATA[News - Salt Lake Potash crosses a milestone towards developing Australia’s first sulphate of potash project ]]> https://www.proactiveinvestors.co.uk/companies/news/210829/salt-lake-potash-crosses-a-milestone-towards-developing-australias-first-sulphate-of-potash-project-210829.html Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) has signed a native title land access and brine minerals exploration agreement with Tarlka Matuwa Piarku Aboriginal Corporation (TMPAC) covering the Lake Way Project area in Western Australia.

TMPAC has entered into the agreement with Salt Lake Potash on behalf of the Wiluna People who are the recognised native title holders of the land covering the Lake Way Project sulphate of potash (SOP) project area.

Importantly, TMPAC has also provided consent for the total area required for the construction and operation of the Williamson Ponds.

READ: Salt Lake Potash secures $13 million to advance sulphate of potash project

The signing of the agreement and receipt of the consent is a major milestone in the development of the Lake Way Project and positions Salt Lake Potash to accelerate the works program for the Williamson Ponds.

Salt Lake Potash chief executive officer Tony Swiericzuk said: “It has been a pleasure working with TMPAC to develop an agreement which respects the significance of the area’s heritage and also enables us to progress the Lake Way Project.

“The signing of the agreement is a key milestone for construction activities to commence and the company’s goal of developing the first SOP project within Australia.

“We look forward to building on the strong working relationship with TMPAC as we progress our plans to develop the Lake Way Project.”

READ: Salt Lake Potash enters MOU for long-term sulphate of potash offtake agreement

Having signed the agreement, Salt Lake Potash is now looking to accelerate works at Lake Way, including:

• Construction of Williamson Ponds – Key contracts in respect of the construction of the Williamson Ponds are in the process of being finalised and construction equipment will be mobilising shortly in preparation for the imminent planned works to begin. The completion of this work program will result in the construction of Australia’s first commercial-scale SOP evaporation ponds.

• Resource definition program –Work is currently underway to enable Salt Lake Potash to report a resource estimate for the lake bed brine and the paleochannel aquifer for the whole lake, which will enable the company to examine larger production options.

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Mon, 10 Dec 2018 13:42:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210829/salt-lake-potash-crosses-a-milestone-towards-developing-australias-first-sulphate-of-potash-project-210829.html
<![CDATA[RNS press release - Native Title Land Access and Exploration Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181210070005_13896657/ Mon, 10 Dec 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15019/LSE20181210070005_13896657/