Salt Lake Potash raises A$28 million via share placement to ramp up Lake Way Project
Food and fertiliser prices have moved higher in the second half of 2020 with the trend continuing into 2021. Sulphate of potash prices have remained stable to date with the potential for cost-push price inflation.
Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) (FRA:W1D) has received binding commitments to raise A$28 million via a share placement to institutional shareholders, sophisticated investors and directors at 35 cents per share.
This will enable final debt drawdown and access to additional funding through a bank guarantee provided by Sequoia and ramp-up of the Lake Way Project in Western Australia.