said construction of the process plant at its Lake Way Sulphate of Potash (“SOP”) project in Western Australia has continued to progress during the June quarter with the first SOP production remaining on schedule for the March quarter of 2021.
In a quarterly update for the period ending 30 June 2020, Salt Lake Potash said both stage 1 & 2 pond networks at Lake Way are in operation and precipitating harvest salts and brine chemistry which continues to align with the company’s previously modelled outcomes.
A 277kg bulk sample of harvest salts was taken from the Stage 1 Kainite Ponds, reporting average potassium grades of 7.5%, above assumed average plant feed in the BFS of 6.8%.
Trench development at Lake Way recommenced in June with the total trench length extended to 48km by the end of the quarter from 35km at the end of the March quarter.
At the site, the Company completed bulk civil earthworks and commenced pouring concrete foundations during the quarter while procurement advanced significantly with the project now over 90% procured for major packages and key vendor contracts executed.
Shares in Salt Lake Potash have risen steadily over the past three months and were trading 0.79% higher at 31.75p this morning following the announcement.
SO4 told investors today that it has made “significant progress” in finalising the debt financing which will enable the company to finally complete construction works at Lake Way. It said this morning that execution of the final agreement is imminent.
Last week, SO4 was granted the 'Green' label certification for debt issued to develop Lake Way, confirming the positive environmental contribution of the project’s fertiliser production.
In addition, a technical assessment at the site concluded that a Mannheim process plant of comparable capacity would have 60% higher CO2 emissions than the Lake Way Project.
SO4 has previously noted how investor interest in green investment has grown rapidly over the past decade, with estimates showing the global volume of green debt has grown from less than A$5 billion in 2010 to more than A$150 billion in 2018.
Salt Lake Potash’s long-term plan at Lake Way is to develop an integrated Sulphate of Potash operation, producing from several of its nine salt lakes.
Follow News & Updates from Salt Lake Potash:
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
(Sharecast News) - Stocks in London finished in the green on Monday, helped by the release of a much better than expected reading on euro area factory activity last month, and similarly upbeat survey results overnight in China.
Seeing Machines said total income, revenue and cash are ahead of market expectations for the period ended 30 June 2020. The driver monitoring system technology company said it continues to deliver its products across several industries despite the effects of the COVID-19 pandemic.
Union Jack Oil has a further 12.5% interest in PEDL180 and PEDL182 from Humber Oil & Gas, which the group says will have ‘an immediate positive by increasing its reserves and resources at Wressle by 45.5% to 1.24 million barrels of oil equivalent.
Versarien has today announced the launch of its first Graphene Enhanced Protective Face Mask, which utilises Polygrene, Versarien's graphene enhanced polymer to protect against airborne bacteria and minimise the spread of viral infection.
(Sharecast News) - Stocks in London are on the back foot at the start of August, weighed down by a retreat in lenders' shares and reports pointing to increasing odds that stricter Covid-19 restrictions were in the pipeline, both in the UK and the US.
New "life-saving" 90-minute tests which can detect coronavirus and flu will be rolled out in care homes and laboratories from next week. The "on-the-spot" swab and DNA tests will help distinguish between Covid-19 and other seasonal illnesses, the government said.