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Salt Lake Potash strengthens board with appointment of experienced chemical engineer

Early process plant construction work has begun and the project remains on schedule for December 2020 commissioning.

Salt Lake Potash Ltd - Salt Lake Potash appoints experienced chemical engineer Matt Bungey to board of directors
SO4 is focused on rapid construction of the process plant and non-process infrastructure

Salt Lake Potash Ltd (ASX:SO4)(LON:SO4) has strengthened its board with technical expertise gained through the appointment of Matt Bungey as a director effective from today.

The experienced chemical engineer started his career as a process engineer with BHP at the Centre for Minerals Technology in the United States where he was responsible for process design and research into bacterial leaching of copper-sulphide ore.

He then spent several years in the Marketing Division of BHP Billiton based in The Hague before most recently holding the position of managing director and head of mining and metals with Barclays Investment Bank in London.

Bungey has worked as a consultant to SO4 since the beginning of 2019 and has placed a key role in advancing the Lake Way Sulphate of Potash (SOP) Project in Western Australia.

“Significant contribution" to Lake Way

Chief executive officer Tony Swiericzuk said: “Since 2019, Matt has made a significant contribution to the rapid advancement of our Lake Way project.

“He brings wide-ranging experience in chemical engineering, mining finance and corporate strategy to the SO4 board and is a valuable appointment.”

Placement completed

SO4 recently completed a A$20 million placement to several existing and new institutional shareholders to support ongoing development of the Lake Way SOP Project in the Goldfields region of WA.

The placement of around 58.8 million shares at A34 cents each further strengthens the company’s register with strong demand from existing institutional shareholders.

Funds will enable SO4 to continue to deliver the Lake Way project to schedule, with commissioning expected to begin in December 2020 and first production in the first quarter of 2021.

Quick facts: Salt Lake Potash Ltd

Price: 30.5 GBX

AIM:SO4
Market: AIM
Market Cap: £106.91 m
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Salt Lake Potash heavily involved in finalising the engineering and design...

Salt Lake Potash Ltd's (ASX:SO4) (LON:SO4) Tony Swiericzuk updates Proactive London's Andrew Scott on the ongoing development of the Lake Way Sulphate of Potash Project in the Goldfields region of WA. He says early process plant construction work has begun and the project remains on schedule...

on 5/5/20

2 min read