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Salt Lake Potash (SO4) Commencement of Commercial Scale SOP Evaporation


  • Salt Lake Potash has completed construction of a commercial scale SOP brine evaporation pond at Lake Way
  • Pumping of the high grade SOP brine from Williamson Pit has now commenced
  • De-watering is expected to be finished during Q3 2019 ensuring the evaporation process will be underway during the summer months and provide the initial feed salts for the process plant
  • Salt Lake Potash has commenced a Bankable Feasibility Study (BFS) for a commercial scale 200ktpa Sulphate of Potash development at Lake Way, targeting completion in Q3 2019

Salt Lake Potash Limited (Salt Lake Potash or the Company) is pleased to announce it has commenced pumping the Williamson Pit brine into a commercial scale Sulphate of Potash (SOP) brine evaporation pond (Williamson Ponds) at its Lake Way Project.

Construction of the Williamson Ponds has recently been completed, with pond dimensions of 2.5km by 0.5km. These ponds have been designed to receive the 1.2GL of high-grade SOP brine from the Williamson Pit mine, with de-watering of the pit now underway. The de-watering is scheduled to complete in Q3 2019.  

Given the super-saturated nature of the Williamson Pit brines, precipitation of salts started immediately upon pumping into the evaporation pond. The Company will be able to harvest first salts from the Williamson Ponds which are expected to be utilised as initial feed stock for processing.

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

“It is very pleasing to see the high-grade Williamson Pit brines being pumped into the commercial scale SOP evaporation ponds. It’s a real milestone in the development of our Lake Way Project and a first in the development of an exciting new industry for Western Australia.

Importantly, construction of the Williamson Ponds has provided the team with invaluable data on both methodology and costs, which will feed into the BFS that is now well advanced and due to be completed during the September quarter.”

Link to Interview with Tony Swiericzuk as the de-watering of Williamson Pit commences

Having recently completed the Scoping Study for a commercial scale 200ktpa development at Lake Way, Salt Lake Potash has commenced the Bankable Feasibility Study targeting completion in Q3 2019.

For further information please visit www.so4.com.au or contact:


Tony Swiericzuk/Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 6559 5800

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

Rupert Fane / Ingo Hofmaier / Ernest Bell

Hannam & Partners (Joint Broker)

Tel: +44 (0) 20 7907 8500

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake Potash Limited’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 Potash Limited, which could cause actual results to differ materially from such statements. Salt Lake Potash Limited 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.


Competent Persons Statement

The information in this Announcement that relates to Mineral Resources is extracted from the report entitled ‘Significant High-Grade SOP Resource Delineated at Lake Way’ dated 18 March 2019. This announcement is available to view on www.so4.com.au. The information in the original Announcement that related to Mineral Resources was based on, and fairly represents, information compiled by Mr Ben Jeuken, who is a member Australasian Institute of Mining and Metallurgy (AusIMM) and a member of the International Association of Hydrogeologists. Mr Jeuken is employed by Groundwater Science Pty Ltd, an independent consulting company. Mr Jeuken has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Salt Lake Potash Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Salt Lake Potash Limited confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Production Target

The Lake Way Project Production Target stated in this announcement is based on the Company’s Scoping Study as announced on 13 June 2019. The information in relation to the Production Target that the Company is required to include in a public report in accordance with ASX Listing Rule 5.16 and 5.17 was included in the Company’s Announcement released on 13 June 2019. The Company confirms that the material assumptions underpinning the Production Target referenced in the 13 June 2019 release continue to apply and have not materially changed.

Stockhead: LionOre founders among the canny investors climbing aboard at Salt Lake Potash (SO4)

Salt Lake announced this morning that it had received binding commitments to place 37.5 million shares at $0.54 each to raise $20.25 million, with the funds to be used to advance construction of its Lake Way Sulphate of Potash (SOP) Project near Wiluna in the WA goldfields.

The company said the placement was led by a consortium of cornerstone investors, including the LionOre founders, which had agreed to subscribe for shares worth $14.25 million.

The consortium also includes investors that took early positions in African-focused uranium explorer Mantra Resources. Mantra, which was listed on the ASX, was taken over by Rosatom for $1.02 billion in 2010.

Salt Lake managing director Tony Swiericzuk said the company was “delighted to have attracted such a group of investors at a pivotal time in the rapid development of the Lake Way Project”.

“We intend to collaborate closely with the consortium and expect to benefit substantially from the advice of its members,” he said.

“These are individuals that possess a wealth of management, global finance and project development expertise and bring access to very well established commodities marketing networks.”

The Williamson Pit at Lake Way hosts the highest grade brine resource in the country (Supplied).

The balance of the placement was taken up by Salt Lake’s largest shareholder, Swiss private bank and asset manager Lombard Odier, which subscribed for shares worth $6 million.

The placement was completed at the same price, $0.54, as Salt Lake shares last traded on the ASX before a trading halt was requested before the market opened on Wednesday.

Upon the resumption of trading this morning, the stock gained 7.4 per cent to $0.58.

At this price, the company has a market capitalisation of about $120 million.

Leading the potash pack

Salt Lake is one of a handful of ASX-listed companies seeking to pioneer the production of SOP, a premium grade potassium fertiliser, from Western Australian salt lakes.

It is well placed to take honours as the first to achieve commercial production, with construction well underway at Lake Way on the country’s first commercial scale on-lake evaporation ponds.

Construction of the evaporation ponds at Lake Way is nearly complete (Supplied).

These ponds will have a capacity of 1.8 gigalitres, enough to capture the total measured brine resource in the nearby Williamson Pit.

At 1.2 gigalitres grading 25kg/m3, this is the highest grade brine resource in the country.

Once construction of the ponds is complete, they will allow for the dewatering of the Williamson Pit, a process that will accelerate first production at Lake Way.

Salt Lake owns nine large salt lakes in the northern goldfields and has a long-term plan to develop an integrated SOP operation, producing from several, or all, of the lakes.

Specific uses for the funds from the latest raising include the development of on-lake infrastructure at Lake Way, paying deposits on process plant long-lead items, completion of feasibility studies and general working capital.

This story was developed in collaboration with Salt Lake Postash, a Stockhead advertiser at the time of publishing.
This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice. If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.
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