Salt Lake Potash’s process plant at Lake Way SOP Project receives practical completion certificate

Salt Lake Potash Ltd’s (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) (FRA:W1D) process plant at the Lake Way SOP Project near Wiluna in Western Australia has been issued with a Practical Completion certificate from GR Engineering Services.

The plant handover to the Salt Lake Potash operations team is now complete. 

Plant commissioning work continues, with the first sulphate of potash (SOP) product expected in the weeks ahead. 

Delivery of first SOP

Salt Lake Potash chief executive officer and managing director Tony Swiericzuk said: “The SO4 operations team continues to work towards continuous operation of the process plant to deliver first SOP, expected over the coming weeks.”

Fine-tuning

Commissioning activities continued throughout June with all sub-systems that comprise the plant having been individually commissioned.

Fine-tuning of the flotation circuit is ongoing with the initial product expected in the weeks ahead.

Lake Way will be the first producing asset within the company’s project portfolio.

Once ramped up, the project will produce 245,000 tonnes per annum of premium SOP.

The Goldfields Highway passes less than 1 kilometre from the Process Plant and 5 kilometres from the Lake while the Goldfields Gas Pipeline is adjacent to SO4′s tenements, running along the eastern side of the Lake.

Debt financing

In June, the company concluded its debt financing process, receiving funds from the final US$33 million tranche of its US$138 million Senior Debt Facility.

It also received funds from its recent A$28 million placement.

In addition, Salt Lake Potash executed the A$18 million Guarantee Facility with Sequoia Economic Infrastructure Fund (SEQI), which allows the release of A$18 million of equity back into the project.

These funds will be used for general operating expenses during the ramp-up of the Lake Way SOP Project.

Technical expertise on board

Last week, the company added senior technical and executive experience to its board of directors with the appointment of Rebecca Morgan as a non-executive director as the company headed towards first SOP production and revenue from the Lake Way Project.

Story by ProactiveInvestors