Salt Lake Potash Ltd - Lake Way Earthworks Completion and COVID-19 Update
AIM/ASX Code: SO4
COMPLETION OF CIVIL EARTHWORKS FOR PROCESS PLANT SITE
§ Off-lake civil construction earthworks is now complete and contractors and equipment are demobilising. Completed work includes pad preparation for construction of the process plant, power plant, warehouse, workshop, administration and site village, as well as construction of the raw water pond, runoff settlement ponds and site access roads.
§ The Company has engaged with its suppliers and is not aware of any impact from the Covid-19 shut-down and is planning delivery of all key components as per the project schedule.
§ The Company expects to be delivering first revenues in Q1'21 and notes that in face of the current economic volatility, SOP markets have remained very resilient with no material changes to the published benchmark indexes.
TONY SWIERICZUK, Chief Executive Officer
"The current volatile economic environment, and a relatively unchanged SOP price, highlights the resilience of the global agricultural sector. Our
Following completion of Stage 2 on-lake civils SO4 has now shifted focus to rapid construction of the process plant and non-process infrastructure (accommodation, power, raw water storage, buildings etc.) for the
At the process plant site, ground clearing and bulk civil earthworks are now complete. This work included pad preparation for construction of the process plant, power plant, warehouse, workshop, administration and site village, as well as construction of the raw water pond, runoff settlement ponds and site access roads.
More than 50% of the long-lead items for the plant and NPI construction have been ordered with engineering and procurement expected to be finalised in coming months.
On-lake the trench network continues to supply aquifer brine to the 400Ha of solar evaporation ponds that have commenced commissioning as they ramp up to steady state commercial scale operation. Harvest salts are precipitating as planned and will be used to commission and feed the process plant from late Q4 2020.
covid-19 business update
SO4 has responded with changes to its operations as Government advice regarding Covid-19 has evolved in order to minimise potential impacts. Specifically, interstate workers have elected to transit home while non critical movement to and from site has been minimised. All interaction with the local Wiluna community has ceased. Use of the
The Company has received no information from suppliers to suggest delays to any items ordered for the process plant and non-process infrastructure.
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 Company's Managing Director, Mr Tony Swiericzuk.
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.
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: £111.12 m
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