Salt Lake Potash Ltd - Completion Of Stage 2 On-Lake Construction
AIM/ASX Code: SO4
COMPLETION OF STAGE 2 ON-LAKE CONSTRUCTION
§ The Company has now completed construction of 400ha of evaporation ponds and 35km of brine abstraction trenches.
§ Stage 2 includes 275ha of brine evaporation ponds which will provide feed salts to the process plant in 2021.
§ Focus has now shifted to construction of the process plant as well as other non-process infrastructure, where ground clearing and early stage civil activity has commenced.
§ The Project remains on-track to commence plant commissioning in
TONY SWIERICZUK, Chief Executive Officer
"The rapid delivery of the
sTAGE 2 COMPLETED & cOMMISSIONED
The Stage 2 pond network, comprising of 275ha of evaporation pond area and 35km of brine extraction trenches has been completed and is being commissioned. The commissioning process has seen in excess of 600ML of brine pumped into the Stage 2 ponds.
The completed Stage 1 & 2 ponds now span 400ha. In addition to the ponds, 35km of trenches have now been completed. The draining of high-grade (25kg/m3 SOP) brine from the
Following completion of Stage 2, the construction team has shifted focus to the process plant and village where clearing and early civil work has commenced.
project remains on schedule and budget
SO4 is using a staged approach to pond construction that aligns with the process plant ramp-up schedule and steady-state production requirements, enabling some initial capital expenditure to be deferred for a period of up to 12 months. Stage 3 on-lake work expected to commence in Q4'20.
As part of financing ongoing operations the Company has drawn down
Vesting of Performance Rights
Following completion of the Stage 2 evaporation ponds and brine extraction trenches, the Board has resolved that the relevant trench and pond milestone has been satisfied and approximately 4.2m performance rights have vested.
For further information or to view a full version of this announcement, please visit www.so4.com.au or contact:
Tony Swiericzuk / Richard Knights
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Tel: +61 8 6559 5800
Colin Aaronson / Richard Tonthat / Seamus Fricker
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Tel: +44 (0) 20 7383 5100
Derrick Lee / Peter Lynch
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Tel: +44 (0) 131 220 6939
Rupert Fane / Ernest Bell
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Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the Board of Directors.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Appendix A - Competent Person Statement and Disclaimer
Competent Persons Statement
The information in this announcement that relates to Exploration Results and Mineral Resources for Lake Way is extracted from the announcement entitled 'Outstanding Bankable Feasibility Results for Lake Way' dated
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on
This information is provided by RNS, the news service of the
Quick facts: Salt Lake Potash Ltd
Market Cap: £118.35 m
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