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.
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