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Salt Lake raises A$5.2m

23rd March 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Dual-listed mineral explorer Salt Lake Potash has raised A$5.2-million through a share placement to Australian investors.

The ASX- and Aim-listed company on Wednesday announced that it had placed some 16.25-million shares, at a price of 32c each, to raise the funds. The offer price represented a 12% discount to Salt Lake’s 20-day volume weighted average price.

The share placement would be conducted under the company’s placement capacity, and as such would not require shareholder approval.

Salt Lake holds a number of potash and uranium exploration tenements in Australia and the US, including the Lake Wells potash project, in Western Australia, which hosts a mineral resource of 85-million tonnes sulphate of potash.

Edited by Creamer Media Reporter

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