Salt Lake Potash Ltd - Lake Way Project Update. Interim CFO appointed
AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
Lake Way Project nearing completion - Process Plant and NPI well advanced
Salt Lake Potash Limited (SO4 or the Company) is pleased to provide an update on progress at its Lake Way Project at Wiluna in
· The Process Plant was 88% complete on
· Major items now installed include the SOP and schoenite crystallisers, centrifuges, attritioners, drag feeders and conveyors, with most of the remaining works comprising piping, cabling and valves installation.
· Non-Process Infrastructure (NPI) is well advanced with process water borefields and storage ponds commissioned, construction of gas pipeline substantially advanced, and installation of power station commenced.
· Approximately 27kt of potassium rich kainite and schoenite salts have been harvested for commissioning plant feed from the Train 1 cells. Harvesting activities will re-commence in March ahead of plant commissioning.
· Process Plant commissioning expected to commence in February with introduction of first feed salts to the plant in March. The project capital budget remains unchanged at
TONY SWIERICZUK, Chief Executive Officer
""I am extremely proud of the way the GR Engineering Services and SO4 teams have worked to safely and efficiently deliver the Lake Way project. Significant progress was made in a challenging environment in 2020 with minimal impact on the project and we now look forward to supplying the domestic and global agricultural industries with premium SOP in the second quarter of 2021."
Process Plant reaches 88% completion (value earned basis)
Major items now installed include the SOP and schoenite crystallisers, attritioners, drag feeder, conveyors, lump breaker, various tanks and agitators, chillers, transformers, utilities switch room and various pumps, hoppers and launders.
Associated piping, cabling and valves installation now comprise most of the remaining work on an earned value basis.
The four primary conveyor structures that feed the plant and discharge waste NaCl have been fully erected. They will be commissioned in the next few weeks.
The Company expects Process Plant commissioning to commence in February with the introduction of first feed salts to the plant occurring in March.
Non-Process Infrastructure advances
The raw water pond has been lined and commissioned, and both the Southern and West Creek Raw Water Borefields supplying the plant and village have been commissioned.
Construction of the 27km APA gas pipeline that connects with the Goldfields Gas Pipeline commenced in
Concrete footings for the gas generators have been completed. The units are in
Total procurement for the Process Plant reached 96% on
Plant feed salt harvesting commenced
Harvesting of potassium rich kainite and schoenite salts from Train 1 was undertaken with approximately 27kt of salts now stockpiled ahead of plant commissioning. Salts have been harvested successfully using a tractor and scraper methodology. Assays from the harvest salt stockpiles have returned grades in-line with the system curve and planning models.
AMEC community contribution award
The award recognised the Company's efforts to deliver sustainable and long-lasting social and economic benefits to the Wiluna region through strategic partnerships, community investment and opportunities in employment and training.
Certification for organic use granted in the
OF&G certifies more than half of organic land in the
In addition to the OF&G certification, SO4 is also seeking Organic Certification from several other domestic and international bodies, including EU Ecological Certification, the Organic Materials Review Institute (OMRI) the ACO (Australian Certified Organic) and UK Soil Association. SO4 will update the market on progress with these certifications in the months ahead.
Grant is an experienced corporate finance executive having been appointed as SO4's Head of Corporate Development in
Grant has extensive experience in finance, budgeting, project evaluation, commercial negotiations and strategic planning.
The Company is undertaking an external search ahead of the appointment of a permanent CFO.
For further information or to view a full version of this announcement, including site layout and photos, please visit https://www.so4.com.au/asx-announcements/ or contact:
Tony Swiericzuk /
Salt Lake Potash Limited
Tel: +61 8 6559 5800
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Grant Thornton UK LLP (Nominated Adviser)
Tel: +44 (0) 20 7383 5100
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Cenkos Securities plc (Joint Broker)
Tel: +44 (0) 131 220 6939
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Hannam & Partners (Joint Broker)
Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the Managing Director, Mr Tony Swiericzuk.
The information contained within this announcement is deemed to constitute inside information as stipulated under the
Forward Looking Statements
This announcement includes forward-looking statements. These forward-looking statements are based on the Company's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. Although the Company believes that its forward-looking statements have reasonable grounds, can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the Company's business (including those described in pages 25 to 29 (inclusive) of the Presentation released to ASX on
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