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.