Salt Lake Potash Ltd (ASX:SO4) is in a trading halt pending news regarding completion of a bankable feasibility study for the Lake Way Sulphate of Potash Project in WA’s northern Goldfields region.
The trading halt will remain in place until the beginning of trade on Friday, October 11, or when an announcement is made to the market, whichever occurs earliest.
Shares last traded at 79 cents after reaching a new 12-month high of 95 cents late last month.
Acquisition of Lake Way tenements
SOP recently completed the acquisition of a package of tenements as well as other key assets for the Lake Way project.
The acquisition was completed after satisfying all conditions precedent to Salt Lake’s agreement with Blackham Resources Ltd (ASX:BLK).
The transaction marks an important step in providing Salt Lake with certainty over tenure, timing and capital expenditure required to bring the Lake Way project into production.
Looking ahead, chief executive officer Tony Swiericzuk said the next 12 months would be “pivotal” for the company with a number of key works progressing including the construction of a processing plant at Lake Way and final permitting.
