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.