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Salt Lake Potash #SO4 – Lombard Odier Asset Management holding in company

Salt Lake Potash #SO4 Limited announces that it was notified on 11 January 2019 via the filing of a Form 604 – Notice of change of interests of substantial holder within the ASX, that Lombard Odier Asset Management (Europe) Limited’s relevant interest in the Company increased from 17,071,000 Ordinary Shares (9.75 per cent of the issued ordinary share capital of the Company as at 20 June 2018) to 18,025,501 Ordinary Shares (8.74 per cent of the issued ordinary share capital of the Company as at 9 January 2019).

For further information please visit www.saltlakepotash.com.au or contact:

Tony Swierizcuk/Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Jo Battershill

Salt Lake Potash Limited

Tel: +44 (0) 20 7478 3900

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee/Beth McKiernan

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Jerry Keen/Toby Gibbs

Shore Capital (Joint broker)

Tel: +44 (0) 20 7468 7967

Salt Lake Potash #SO4 – Completion of Placement, Directors’ Holdings & Mobilisation of Equipment to Lake Way

Salt Lake Potash Limited (“the Company”) is pleased to announce that it has now completed the placement of 31.0 million new ordinary shares of the Company, to raise gross proceeds of A$13.0 million (“Placement”), first announced on 9 November 2018.  

The second tranche of the Placement has been completed following shareholder approval at a General Meeting held on 20 December 2018. The issue comprised 1,702,381 ordinary shares of no par value at a price of A$0.42 per share, including 952,381 shares subscribed for by the CEO, Mr Tony Swiericzuk, and 750,000 shares by the Company’s Chairman, Mr Ian Middlemas.

Proceeds from the Placement will be used to fund the construction of the Williamson Ponds and dewatering of the Williamson Pit, as well as ongoing development of on-lake infrastructure, exploration and feasibility studies, and general working capital.

Funds from the Placement have enabled the mobilisation of construction equipment to Lake Way, with preliminary site preparation works being undertaken in preparation for the imminent construction of the Williamson Ponds and dewatering of the Williamson Pit.

Application has been made to the AIM Market of the London Stock Exchange (“AIM”) for the admission of the 1,702,381 Ordinary Shares, which rank pari passu with the Company’s existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 10 January 2019 (“Admission”).

An Appendix 3B and Section 708A Notice are attached as required under the listing rules of the ASX.

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (“DTRs”), following Admission, Salt Lake will have 206,270,581 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 206,270,581 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs.

Directors’ interests

Following the issue of these shares, the directors will have the following interests in shares:

 

Number of shares

Percentage of issued share capital

Ian Middlemas

11,750,000

5.70%

Tony Swiericzuk

952,381

0.46%

Mr Swiericzuk also holds an indirect interest in 5 million incentive options and 7,266,258 performance rights.

For further information please visit www.saltlakepotash.com.au or contact:

 

Tony Swierizcuk/Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Jo Battershill

Salt Lake Potash Limited

Tel: +44 (0) 20 7478 3900

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee/Beth McKiernan

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Jerry Keen/Toby Gibbs

Shore Capital (Joint broker)

Tel: +44 (0) 20 7468 7967

 

 

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96  Origin: Appendix 5  Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

 

Name of entity

 SALT LAKE POTASH LIMITED

ABN

 98 117 085 748

We (the entity) give ASX the following information.

Part 1 ‑ All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1

+Class of +securities issued or to be issued

Ordinary Shares

2

Number of +securities issued or to be issued (if known) or maximum number which may be issued

1,702,381

3

Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares

 

4

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

If the additional +securities do not rank equally, please state:

·    the date from which they do

·    the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

·    the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Yes

 

5

Issue price or consideration

$0.42



6

Purpose of the issue

(If issued as consideration for the acquisition of assets, clearly identify those assets)

Proceeds from the issue will be used to fund construction of the Williamson Ponds and dewatering of the Williamson Pit, as well as ongoing development of on-lake infrastructure, exploration and feasibility studies, and general working capital.



6a

Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b – 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

Yes



6b

The date the security holder resolution under rule 7.1A was passed

30 November 2018



6c

Number of +securities issued without security holder approval under rule 7.1

Nil

 



6d

Number of +securities issued with security holder approval under rule 7.1A

Nil



6e

Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

1,702,381

 



6f

Number of +securities issued under an exception in rule 7.2

Nil



6g

If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3?  Include the +issue date and both values.  Include the source of the VWAP calculation.

Not Applicable

 



6h

If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements

Not Applicable



6i

Calculate the entity’s remaining issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements

7.1 – 27,935,268

7.1A – 20,578,769

7

+Issue dates

Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12).  For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

9 January 2019

Number

+Class

8

Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable)

206,270,581

Ordinary Shares

Number

+Class

9

Number and +class of all +securities not quoted on ASX (including the +securities in section 2 if applicable)

 

 

 

7,500,000

 

10,000,000

 

750,000

 

 

750,000

 

 

1,000,000

 

 

250,000

 

 

500,000

 

 

750,000

 

 

400,000

 

 

1,700,000

 

 

 

2,750,000

 

 

 

3,000,000

 

 

 

21,095,016

 

Class B Performance Shares

 

Class C Performance Shares

 

Incentive Options exercise price $0.40, expiry date 29 April 2019

 

Incentive Options exercise price $0.50, expiry date 29 April 2020

 

Incentive Options exercise price $0.60, expiry date 29 April 2021

 

Incentive Options exercise price $0.40, expiry date 30 June 2021

 

Incentive Options exercise price $0.50, expiry date 30 June 2021

 

Incentive Options exercise price $0.60, expiry date 30 June 2021

 

Incentive Options exercise price $0.70, expiry date 30 June 2021

 

Incentive Options exercise price $0.60, expiry date 1 November 2023

 

Incentive Options exercise price $1.00, expiry date 1 November 2023

 

Incentive Options exercise price $1.20, expiry date 1 November 2023

 

Performance rights which are subject to various performance conditions to be satisfied prior to the relevant expiry dates between 31 December 2018 and 1 November 2023

10

Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Not Applicable

Part 2 ‑ Pro rata issue

11

Is security holder approval required?

Not Applicable

12

Is the issue renounceable or non-renounceable?

Not Applicable

13

Ratio in which the +securities will be offered

Not Applicable

14

+Class of +securities to which the offer relates

Not Applicable

15

+Record date to determine entitlements

Not Applicable

 

16

Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

Not Applicable

17

Policy for deciding entitlements in relation to fractions

Not Applicable

18

Names of countries in which the entity has security holders who will not be sent new offer documents

Note: Security holders must be told how their entitlements are to be dealt with.

Cross reference: rule 7.7.

Not Applicable

19

Closing date for receipt of acceptances or renunciations

Not Applicable

20

Names of any underwriters

Not Applicable

21

Amount of any underwriting fee or commission

Not Applicable

22

Names of any brokers to the issue

Not Applicable

23

Fee or commission payable to the broker to the issue

Not Applicable

24

Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of security holders

Not Applicable

25

If the issue is contingent on security holders’ approval, the date of the meeting

Not Applicable

26

Date entitlement and acceptance form and offer documents will be sent to persons entitled

Not Applicable

27

If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders

Not Applicable

28

Date rights trading will begin (if applicable)

Not Applicable

29

Date rights trading will end (if applicable)

Not Applicable

30

How do security holders sell their entitlements in full through a broker?

Not Applicable

31

How do security holders sell part of their entitlements through a broker and accept for the balance?

Not Applicable

32

How do security holders dispose of their entitlements (except by sale through a broker)?

Not Applicable

33

+Issue date

Not Applicable

 

Part 3 ‑ Quotation of securities

You need only complete this section if you are applying for quotation of securities

34

Type of +securities

(tick one)

(a)

+Securities described in Part 1

(b)

All other +securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

 

Entities that have ticked box 34(a)

 

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35

If the +securities are +equity securities, the names of the 20 largest holders of the additional +securities, and the number and percentage of additional +securities held by those holders

36

If the +securities are +equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories

1 – 1,000

1,001 – 5,000

5,001 – 10,000

10,001 – 100,000

100,001 and over

37

A copy of any trust deed for the additional +securities

 

Entities that have ticked box 34(b)

 

38

Number of +securities for which +quotation is sought

Not Applicable

39

+Class of +securities for which quotation is sought

Not Applicable

40

Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?

If the additional +securities do not rank equally, please state:

·    the date from which they do

·    the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

·    the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Not Applicable

41

Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another +security, clearly identify that other +security)

Not Applicable

Number

+Class

42

Number and +class of all +securities quoted on ASX (including the +securities in clause 38)

Quotation agreement

1           +Quotation of our additional +securities is in ASX’s absolute discretion.  ASX may quote the +securities on any conditions it decides. 

2          We warrant the following to ASX.

·           The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.

·           There is no reason why those +securities should not be granted +quotation.

·           An offer of the +securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

·           Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.

·           If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.

3          We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

4          We give ASX the information and documents required by this form.  If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins.  We acknowledge that ASX is relying on the information and documents.  We warrant that they are (will be) true and complete.

Sign here:            …………………………………………………..            Date: 9 January 2019

                             (Director/Company secretary)

Print name:         Clint McGhie

== == == == ==

Notice Under Section 708A

Salt Lake Potash Limited (the Company) has today issued 1,702,381 fully paid ordinary shares. The issued shares are part of a class of securities quoted on Australian Securities Exchange (“ASX”). 

The Company hereby notifies ASX under paragraph 708A(5)(e) of the Corporations Act 2001 (Cwth) (the “Act”) that:

1.         the Company issued the securities without disclosure to investors under Part 6D.2 of the Act;

2.         as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Corporations Act as they apply to the Company, and section 674 of the Act; and

3.         as at the date of this notice, there is no information that is “excluded information” within the meaning of sections 708A(7) and (8) of the Act.

Salt Lake Potash #SO4 – Issue of Ordinary Shares and Change of Director’s Interest Notices

Salt Lake Potash Limited (“the Company”) today released the following announcement on the Australian Securities Exchange (“ASX”), as required under the ASX Listing Rules.

The Company has issued 268,600 ordinary shares of no par value (“Ordinary Shares”) to employees and consultants in satisfaction of remuneration and fees to the value of A$135,557, and 4 Ordinary Shares upon Conversion of the total number of Class A Convertible Performance Shares held by each holder into one Ordinary Share per holder upon expiry. The Company has also issued 2.45 million incentive options and 10,781,258 performance rights to new and existing employees and consultants.

Settlement and dealings

Application will be made to the AIM Market of the London Stock Exchange (“AIM”) for 268,604 Ordinary Shares, which rank pari passu with the Company’s existing issued Ordinary Shares, to be admitted to trading. Dealings on AIM are expected to commence at 8:00am on or around 7 January 2019 (“Admission”).

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (“DTRs”), following Admission, Salt Lake will have 204,568,200 Ordinary Shares in issue with voting rights attached. Salt Lake holds no shares in treasury. This figure of 204,568,200 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs. 

Full RNS here

Change of Directors Interest

Salt Lake Potash Limited (“the Company”) advises that the following Appendix 3Y – Change of Director’s Interest Notices have been lodged with the Australian Securities Exchange, following the expiry and cancellation of Performance Rights effective today.

Full RNS here

For further information please visit www.saltlakepotash.com.au or contact:

Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0)207 383 5100

 

Salt Lake Potash #SO4 – Results of General Meeting

Further to the Company’s announcements of 9 November 2018 and 20 November 2018, a General Meeting of the Company was held today, 20 December 2018, at 10.00am (WST) at which all resolutions were duly passed.

In accordance with Section 251AA of the Australian Corporations Act 2001, the following information is also provided:

 

Resolution

Result

Number of Proxy Votes

For

Against

Abstain

Proxy’s Discretion

1.  Authorise Issue of Placement Shares to Mr Tony Swiericzuk

Passed

48,696,734

93,996

800,000

2.  Authorise Issue of Placement Shares to Mr Ian Middlemas

Passed

37,696,734

93,996

11,000,000

800,000

3.  Ratification of Prior Placement Shares

Passed

38,360,682

93,996

10,336,052

800,000

4.  Ratification of Prior Placement Shares

Passed

38,360,682

93,996

10,336,052

800,000

5.  Ratification of Prior Placement of Options

Passed

37,696,734

93,996

11,000,000

800,000

 

 

For further information please visit www.saltlakepotash.com.au or contact:

Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Brand CEO Alan Green talks Europa Metals #EUZ, Catenae Innovation #CTEA, iEnergiser #IBPO & Salt Lake Potash #SO4 on Vox Markets podcast

Brand CEO Alan Green CEO of Brand Communications discusses Europa Metals (EUZ), Catenae Innovation (CTEA), iEnergiser (IBPO) & Salt Lake Potash (SO4) with Justin Waite on the Vox Markets podcast. Interview is 29 minutes 22 seconds in.

Salt Lake Potash #SO4 – Government Support for Potash Industry Development

Government Support for Potash Industry Development

 

  • Western Australian State Government has announced a commitment to assisting the development of the Potash Industry
  • The Government will introduce a significantly reduced rental rate on a new class of Mining Lease specifically for Brine Minerals

Salt Lake Potash Limited (Salt Lake Potash or the Company) welcomes the Western Australian State Government’s (the Government) initiative in committing to assist in the development of the potash industry in Western Australia.

In its first act of support, the Government will introduce a new rental rate for potash projects which will reduce the existing rate of Mining Leases from $18.70 per hectare to $2.32 per hectare in the first five years and then $4.64 per hectare thereafter.

This Government initiative in support of the potash industry comes at an opportune time as Salt Lake Potash accelerates works at Lake Way including the imminent construction of the Williamson Ponds and the ‘whole of lake’ resource program to enable the consideration of larger scale production scenarios.

The Company believes that the Government’s commitment will further de-risk the development of the potash industry in Australia.

Salt Lake Potash’s Chief Executive Officer, Mr Tony Swiericzuk, said“The commitment by the Government towards the development of the Potash industry will provide significant benefits as we progress the Lake Way Project.  We look forward to working with the Government in the development of a new industry in Western Australia that will create vast opportunities to remote regions including Wiluna.”

Comment from Mines and Petroleum Minister Bill Johnston per the Government statement: “These changes will assist the development of a new industry in Western Australia, and create employment and community development opportunities, particularly in remote Aboriginal communities.

“Potash projects generally have a mine life that spans 30 to 40 years, so this longevity is a win for local communities and sustaining jobs.”

For further information please visit www.saltlakepotash.com.au or contact:

 

Tony Swiericzuk

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Jo Battershill

Salt Lake Potash Limited

Tel: +44 (0) 754 036 6000

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee/Beth McKiernan

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Jerry Keen/Toby Gibbs

 

Shore Capital (Joint broker)

Tel: +44 (0) 20 7468 7967

Salt Lake Potash (SO4) – Native Title Land Access and Exploration Agreement Executed for Lake Way. Construction Activities Set to Commence.

Highlights:

  • Salt Lake Potash and Tarlka Matuwa Piarku (Aboriginal Corporation) RNTBC (TMPAC) have entered into a Native Title Land Access and Exploration Agreement for Lake Way
  • TMPAC consent has been received for the on-lake construction of the pond system for the dewatering of the Williamson Pit at Lake Way (Williamson Ponds)
  • Work programs at Lake Way continue to accelerate with construction of the Williamson Ponds expected to commence shortly
  • A ‘whole of lake’ resource definition program is being undertaken to enable larger scale production scenarios to be considered

Salt Lake Potash Limited (Salt Lake Potash or the Company) is pleased to announce it has signed a Native Title Land Access and Brine Minerals Exploration Agreement (the Agreementwith Tarlka Matuwa Piarku (Aboriginal Corporation) RNTBC (TMPAC) covering the Lake Way Project area.

TMPAC have entered into the Agreement with Salt Lake Potash on behalf of the Wiluna People who are the recognised Native Title Holders of the land covering the Lake Way Project area. TMPAC have also provided consent for the total area required for the construction and operation of the Williamson Ponds.

The signing of the Agreement with TMPAC and receipt of TMPAC’s consent for the Williamson Ponds is a major milestone in the development of the Lake Way Project and positions Salt Lake Potash to accelerate the works program for the Williamson Ponds.

Salt Lake Potash’s Chief Executive Officer, Mr Tony Swiericzuk, said:

“It has been a pleasure working with TMPAC to develop an agreement which respects the significance of the area’s heritage and also enables us to progress the Lake Way Project. The signing of the Agreement is a key milestone for construction activities to commence and the Company’s goal of developing the first SOP project within Australia. We look forward to building on the strong working relationship with TMPAC as we progress our plans to develop the Lake Way Project.”

Having signed the Agreement, Salt Lake Potash is looking to accelerate works at Lake Way, including:

1.   Construction of Williamson Ponds – Key contracts in respect of the construction of the Williamson Ponds are in the process of being finalised and construction equipment will be mobilising shortly in preparation for the imminent planned works to begin on the Williamson Ponds at Lake Way. The completion of this work program will result in the construction of Australia’s first commercial scale SOP evaporation ponds.

2.   Resource Definition Program – A maiden Mineral Resource Estimate for Lake Way (Blackham tenements only) was reported in July 2018. Work is currently underway to enable the Company to report a Mineral Resource Estimate for the lake bed brine and the paleochannel aquifer for the ‘whole of lake’, which will enable the Company to examine larger production options. 

 

 For further information please visit www.saltlakepotash.com.au or contact:

Tony Swiericzuk

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Jo Battershill

Salt Lake Potash Limited

Tel: +44 (0) 754 036 6000

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee/Beth McKiernan

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Jerry Keen/Toby Gibbs

 

Shore Capital (Joint Broker)

Tel: +44 (0) 20 7468 7967

 

 

FORWARD LOOKING STATEMENTS

This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake’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 Salt Lake, which could cause actual results to differ materially from such statements. Salt Lake makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

 

 

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.

Salt Lake Potash #SO4 Enhances Senior Project Development Team

Salt Lake Potash Limited (Salt Lake Potash or Company) is pleased to announce that the Company has made several key executive appointments as development activities at the Goldfields Salt Lakes Potash Project start to rapidly increase.

  • Peter Cardillo as Project Director – Processing and NPI
  • Lloyd Edmunds as Project Director – Civil
  • Stephen Cathcart as Project Director – Technical
  • Appointments bring diversified technical, construction, operations and process infrastructure experience to the Company as it moves into rapid project development phase

Peter Cardillo has commenced in the role of Project Director – Processing and Non Process Infrastructure (NPI), and is responsible for the delivery of the SOP Process Plant and associated support NPI. He is a mechanical engineer with a history spanning 35yrs in the construction and project delivery of steel production plants, petrochemical facilities, materials handling and iron ore processing infrastructure. Mr Cardillo has substantial experience in the creation and management of multi-disciplinary teams associated with the successful development of process plant projects for companies such as Fortescue and BHP. He has a B.Eng (Mechanical – Honours) from the University of Wollongong.

Lloyd Edmunds joins as Project Director – Civil. He is responsible for the construction of lake infrastructure necessary for the delivery of harvest salts to the processing facility. Mr Edmunds is a civil engineer with more than 15yrs experience in construction management on large scale infrastructure projects working in key roles for leading project services firms in the resources sector for clients such as Adani, John Holland Group and Fortescue. He has a B.Eng (Civil) from University of Technology Sydney.

Stephen Cathcart joins the Company as Project Director – Technical, overseeing the Resource Definition, Studies and Approval functions. He is a respected senior mining executive with more than 25yrs experience working in operations management, integrated planning and technical services for companies such as Fortescue, BHP, Sons of Gwalia and Newcrest Mining. He has a B.Eng Science (Mining) from University of Queensland and an MBA from Curtin University.

Salt Lake Potash Chief Executive Officer, Tony Swiericzuk, said“I am excited that Stephen, Peter and Lloyd have chosen to join the Salt Lake Potash team as we work to realise the outstanding potential of the Goldfields Salt Lakes Project. Having previously worked closely together on project development and ramp-up at FMG and having achieved great successes, it is exciting to again share the opportunity to develop another outstanding project.  These appointments, which complement our existing team, will be instrumental in the rapid advancement of the Project and achieving our goal of developing the first salt lake SOP operation in Australia.”

For further information please visit www.saltlakepotash.com.au or contact:

Tony Swiericzuk

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Jo Battershill

Salt Lake Potash Limited

Tel: +44 (0) 754 036 6000

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee/Beth McKiernan

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Jerry Keen/Toby Gibbs

 

Shore Capital (Joint broker)

Tel: +44 (0) 20 7468 7967

Salt Lake Potash #SO4 – Result of AGM

AIM and ASX listed Salt Lake Potash Limited (“the Company”) advises that the Annual General Meeting of shareholders was held earlier today, 30 November 2018, at 11.00am (WST), and all resolutions were duly passed.

The resolutions voted on were in accordance with the Notice of Annual General Meeting announced on 31 October 2018.

In accordance with Section 251AA of the Corporations Act 2001, the following information is also provided: 

Resolution

Result

Number of Proxy Votes

For

Against

Abstain

Proxy’s Discretion

1.  Remuneration Report

Passed on a show of hands

35,738,380

74,045

4,300,000

30,284

2.  Re-election of Director – Mr Mark Pearce

Passed on a show of hands

39,224,258

888,117

30,334

3.  Election of Director – Mr Matthew Syme

Passed on a show of hands

39,224,258

888,117

30,334

4.  Approval of Additional 10% Placement Capacity

Passed on a show of hands

40,110,835

1,600

30,274

 

For further information please visit www.saltlakepotash.com.au or contact:

Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Salt Lake Potash #SO4 completes first tranche of placement & receives DMIRS approval for Lake Way pond system

Salt Lake Potash Limited (the Company or Salt Lake) is pleased to announce that it has completed the first tranche of its placement to institutional and sophisticated investors of 31.0 million shares at an issue price of $0.42 per share, to raise gross proceeds of $13.0 million (Placement), announced 9 November 2018. The placement saw strong demand from institutional and sophisticated investors, an endorsement of the recent appointment of Tony Swiericzuk as CEO to lead the development of the Company’s world class Goldfields Salt Lakes Sulphate of Potash project.

The Company recently received approval from the Department of Mines, Industry Regulation and Safety for a pond system to dewater the Williamson Pit at Lake Way. With the placement complete the Company is now in a strong position to commence these on-lake activities at Lake Way in the coming weeks.

Proceeds from the Placement will be used to fund construction of the Williamson Ponds and dewatering of the Williamson Pit, as well as ongoing development of on-lake infrastructure, exploration and feasibility studies, and general working capital.

The first tranche of the Placement, comprising 29.3 million shares to Institutional and Sophisticated investors to raise gross proceeds of A$12.3 million, was completed today.

The second tranche of the Placement, comprising 1.7 million shares intended to be subscribed for by Directors, including 950,000 shares by the CEO, Mr Tony Swiericzuk, and 750,000 shares by the Company’s Chairman, Mr Ian Middlemas, will be issued subject to shareholder approval.

An Appendix 3B and Section 708A Notice is attached as required under the listing rules of the ASX.

As announced on 16 November 2018, application has been made for the admission to trading on AIM of the balance of the first tranche of the Placement, being 214,286 Salt Lake Potash Limited ordinary shares, with admission expected to take place on or around 22 November 2018

Shareholder Meeting

A General Meeting of the Company will be held at the Conference Room, Ground Floor, BGC Centre, 28 The Esplanade, Perth, Western Australia on Thursday 20 December 2018 at 10:00am (WST). The Meeting will consider the second tranche of the Placement as well as ratifying the first tranche of Placement shares and prior issue of options in order to refresh the Company’s placement capacity under ASX LR7.1 and LR7.1A.

The Notice of General Meeting was sent to shareholders today and is available for download on the Company’s website: www.saltlakepotash.com.au

For further information please visit www.saltlakepotash.com.au or contact:

Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

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