https://www.miningweekly.com
Design|Engineering|Mining|PROJECT|Projects|Environmental
Design|Engineering|Mining|PROJECT|Projects|Environmental
design|engineering|mining|project|projects|environmental

Australian Potash raises A$7m

4th November 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Australian Potash has completed a A$7-million capital raise to advance work on its Lake Wells sulphate of potash (SoP) project, in Western Australia.

The company this week reported that it had received commitments for the placement of more than 63-million shares at a price of 11.1c each from institutional and professional investors.

The shares will be issued under the company’s existing placement capacity, and will not require shareholder approval.

“The strong support for the placement is a testament to our Lake Wells SoP project’s appeal as one of this state’s pre-eminent mining-agri projects, positioned as a low cost, high return, ultra low carbon emitting SoP project, which sits comfortably in the lowest quartile of the global cost curve,” said Australian Potash MD Matt Shackelton.

Proceeds from the placement will be used to complete front-end engineering design optimisation, fund minor works associated with the finalisation of the offtake programme, syndicated debt facility and environmental approvals, fund minor pre-development activities and for general working capital.

The A$208-million Lake Wells SoP project could deliver 150 000 t/y of SoP, based on the maiden reserve of 3.6-million tonnes, and would have a mine life of 30 years.

Edited by Creamer Media Reporter

Comments

Latest News

FACTBOX: Top deals in the global mining sector
FACTBOX: Top deals in the global mining sector
Updated 7 hours ago By: Reuters

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
Updated 7 hours ago
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.186 0.222s - 109pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: