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Goldphyre Resources Ltd in fundraiser for WA potash

Goldphyre Resources Ltd in fundraiser for WA potash

Goldphyre Resources Ltd (ASX:GPH) has been granted a trading halt by the ASX pending details of a capital raising.

The company aims to supply sulphate of potash (SOP) into the domestic market where Australia currently imports 100% of its potassium fertiliser requirements.

An exploration target has been estimated at its Lake Wells Potash Project in Western Australia which provides a basis for its objective of producing 75,000 - 100,000 tonne-a-year sulphate of potash (brine).

Lake Wells has been identified as a high-grade SOP brine salt lake, confirmed both at the salt lake surface and at depth.

The halt will remain in place until the opening of trade on Monday 14th March 2016, or earlier if an announcement is made to the market.


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