The London-based investor increased its stake by acquiring 5.808 million shares in February and March with a total value of more than £1.28 million.
Most of these, more than 5.662 million, were acquired in one transaction on March 4 valued in excess of £1.247 million.
LOAME now holds more than 23.833 million shares in the sulphate of potash (SOP) project developer.
READ: Salt Lake Potash begins constructing Australia’s first commercial on-lake SOP evaporation ponds
This week Salt Lake announced that it was beginning construction of Australia’s first commercial on-lake evaporation ponds at its Lake Way SOP Project near Wiluna in Western Australia.
The first phase of the evaporation ponds will facilitate de-watering of the Lake Way Williamson Pit that contains the highest-grade brine resource in Australia.
Lake Way’s initial ponds will have the capacity to hold 1.2 gigalitres of Williamson Pit brine at an average SOP grade of 25 kilograms per cubic metre for the equivalent of 32,000 tonnes of premium SOP.
During the December quarter, the company increased cash reserves by 305% to support a resource update and feasibility study work for Lake Way.
The company added A$9.1 million to its cash reserves after an A$13 million capital raising from high-quality investors, including its managing director and CEO Tony Swiericzuk and chairman Ian Middlemas.