Salt Lake Potash Limited Notice of GM (7923N)
May 11 2018 - 4:12AM
UK Regulatory
TIDMSO4
RNS Number : 7923N
Salt Lake Potash Limited
11 May 2018
11 May 2018 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
Notice of General Meeting
----------------------------
Salt Lake Potash Limited ("the Company") wishes to advise that a
General Meeting of the Company will be held at the Conference Room,
Ground Floor, BGC Centre, 28 The Esplanade, Perth, Western
Australia on Monday 11 June 2018 at 10:00am (WST).
The business of the meeting will be to approve the adoption of a
new Company Constitution and seek approval to vary the terms of
existing Performance Rights and Performance Shares.
The Company's primary focus is to construct a Demonstration
Plant, before expanding to full-scale production at the Goldfields
Salt Lakes Project (GSLP), intended to be the first salt-lake brine
SOP production operation in Australia.
The Company has selected GSLP's lakes for scale and potential
brine volume, known hypersaline brine characteristics, potential
for both shallow trench extraction and from deeper paleochannel
aquifer bores, large playa surface for cost-effective evaporation
pond construction and proximity to the important transport and
energy infrastructure and engineering expertise available in the
Western Australian Goldfields. While proceeding with
pre-feasibility study technical work for Lake Wells, the Company
has also completed initial work across all of the other regional
lakes in the GSLP.
As a result of the Company's work on regional lakes, the Company
identified an opportunity at Lake Way. This lead to the Company
executing a Memorandum of Understanding (MOU) with Blackham
Resources Limited (Blackham) to investigate the potential
development of a SOP operation based at Lake Way, near Wiluna.
The strategic decision to shift focus to Lake Way resulted in
the Company's resources being focused on Lake Way. The Directors of
the Company believe that of participants of the Performance Rights
Plan and the Vendors should be not be directly affected by decision
of the Company to shift to Lake Way and seek approval for an
extension on the pre-feasibility study and definitive feasibility
study milestones by six months.
Equally, the proposed variations will ensure that the Company
can explore and exploit the valuable commercial opportunity under
the MOU, without the additional burden of attempting to complete
the pre-feasibility study and definitive feasibility study before
the original expiry dates.
The Company is also proposing to adopt the new Company
Constitution to reflect changes to the Australian Corporations Act,
the ASX Listing Rules and other regulatory requirements since the
Company adopted its current Constitution in 2006.
The Notice of General Meeting was sent to shareholders today and
is available for download on the Company's website:
www.saltlakepotash.com.au
For further information please visit www.saltlakepotash.com.au
or contact:
Matt Syme/Sam Cordin Salt Lake Potash Limited Tel: +61 8 9322 6322
Jo Battershill Salt Lake Potash Limited Tel: +44 (0) 20 7478 3900
Colin Aaronson/Richard Tonthat Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Derrick Lee/Beth McKiernan Cenkos Securities plc (Joint Broker) Tel: +44 (0) 131 220 6939
Jerry Keen/Toby Gibbs Shore Capital (Joint broker) Tel: +44 (0) 20 7468 7967
This information is provided by RNS
The company news service from the London Stock Exchange
END
NOGFKDDKFBKKCPD
(END) Dow Jones Newswires
May 11, 2018 04:12 ET (08:12 GMT)
Salt Lake Potash (LSE:SO4)
Historical Stock Chart
From Apr 2024 to May 2024
Salt Lake Potash (LSE:SO4)
Historical Stock Chart
From May 2023 to May 2024