Australia’s first sulphate of potash mine will start production this week and five local mines could be producing the specialty fertiliser inside four years.
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.
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A look at some of the major movers in London on Monday
OnTheMarket PLC (LON:OTMP) advanced 6.1% to 87.5p after it announced a commercial partnership with rental platform Canopy.
The partnership will enable OnTheMarket to provide its agent customers with free comprehensive tenant referencing, including employment and landlord references, for all tenancy applications.
Canopy s RentPassport includes Experian credit history, adverse financial history and provides verification of identity and address along with Know Your Customer, Anti Money Laundering and other information. The Canopy and OnTheMarket rental platform will be live in July 2021.
3.30pm: Synairgen wanted after its inhaled interferon beta shows potential antiviral activity
FTSE 100 rouses itself in the afternoon hours; Wall Street eagerly picks up the baton
Companies
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London s leading index ended Monday up 34 points, 0.5%, at 7,052
FTSE 100 up 34 points
Bitcoin bounces back
5.05pm: Positive day for tech
London s leading index ended Monday up 34 points, 0.5%, at 7,052, while the FTSE 250 added 84 points, 0.4%, to close at 22,484. Stocks have resumed their march higher it seems, adding to the gains made in the second half of last week as inflation concerns appear to recede, IG Chief Market Analyst Chris Beauchamp wrote. Risk assets are moving higher on a broad front, with almost all major indices in positive territory and oil prices marching upwards as well.
TRADING UPDATES: HSBC issues bond notes; Zegona to return capital
Mon, 24th May 2021 19:23
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Aberdeen Standard European Logistics Income PLC - European-focused logistics real estate investor - Posts net asset value peer share at March 31 of 121.6 euro cents, up from 120.1 cents at December 31. Declares first interim dividend of 1.41 cents per share. Portfolio valuation up 1.6% to EUR437.1 million from EUR430.2 million.
Accsys Technologies PLC - wood building products manufacturer - Says it has received valid acceptances under the open offer, announced early May, and the excess application facility significantly in excess of the 2.4 million new shares available. Says the gross proceeds of the open offer will be approximately EUR4 million, and the aggregate gross proceeds of the placing and the open offer will be around EUR37 million.