Australian Potash Ltd (ASX:APC) directors have demonstrated their confidence in the company’s potash strategy by acquiring more shares.
Managing director and CEO Matt Shackleton increased his holding to 8.52 million shares following the purchase of shares worth $45,946.50 in a rights issue and non-executive chairman Jim Walker added shares worth $59,999.94 by participating in a placement.
Walker now holds 1.25 million APC shares.
Key production bore field drilling contract awarded
On April 22, Australian Potash awarded the production bore-field drilling contract for the development of Lake Wells Sulphate of Potash Project (LSOP) near Laverton in Western Australia.
This key contract has been awarded to Pentium Hydro Pty Ltd, a wholly-owned subsidiary of Vysarn Limited (ASX:VSY).
APC’s recently completed FEED program into the development of the LSOP identified an optimised bore-field design comprising 79 brine bores.
In addition to the brine bore field, this FEED program identified the development of two raw (or fresh) water bore fields comprising approximately 13 bores.