Salt Lake Potash Limited (LON:SO4 ASX:SO4) has outlined its next steps following the publication of a bankable feasibility study for its Lake Way project earlier this month.
The BFS indicated a post-tax value of A$479mln (£254mln) based on 245,000 tonnes of sulphate of potash annually over a 20-year mine life, numbers the company described as 'outstanding'.
Project financing of up to US$150mln has been agreed with Taurus Funds Management.
Salt Lake now expects to begin the procurement of long-lead items for the Process Plant and Non-Process Infrastructure.
In addition, Salt Lake wants to tie off the Native Title agreement at Lake Way, agree on offtake deals and conclude the design stage.
Lake Way is located in the Northern Goldfields region of Western Australia.
The company closed the quarter to September with cash of A$22mln.