https://www.miningweekly.com
PROJECT
PROJECT
project

Australian Potash raises cash for Lake Wells studies

11th February 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Australian Potash will raise up to A$5.2-million through a renounceable rights issue to complete a definitive feasibility study on the Lake Wells potash project, in Western Australia.

The company on Monday said that it would offer three rights shares for every 14 shares held, at an issue price of 8c a share. The company is also offering one free attaching listed option, exercisable at 12c each, on or before August 8, 2021, for every four rights shares subscribed to.

The rights issue will be underwritten for up to A$4.2-million by Patersons Securities, which will also act as lead manager.

A scoping study on the Lake Wells project previously found that it could support a Stage 1 production of 150 000 t/y, and a Stage 2 production of 300 000 t/y, over a 20-year mine life. The project is expected to cost some A$175-million for the Stage 1 development, and a further A$163-million for Stage 2.

Edited by Creamer Media Reporter

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT 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 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
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:0.148 0.186s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: