Australian Potash launches AUS$12 million capital raise
Published by Nicholas Woodroof,
Editor
World Fertilizer,
The proceeds will be used to advance the Lake Wells sulfate of potash (SOP) project, focusing on continued bore development and de-risking a Final Investment Decision targeted for the end of 1Q22, earthworks and working capital.
Matt Shackleton, Australian Potash’s Managing Director and CEO said: “Funds raised from this placement and SPP will allow APC to continue to develop and de-risk the Lake Wells SOP Project over the coming months. Our progressive de-risking strategy, when applied to the Mineral Resource, is to continue developing bores, pump-testing those bores and then reconciling recorded flow rates back to the hydro-model, which is effectively our mine development plan. At this point, our schedule indicates we will have approximately 30%- 50% of the production borefield by volume developed through Q1 2022.
“Corporately we remain focused on finalising credit approval processes for the balance of the syndicated, development debt facility. I look forward to updating shareholders on progress at the LSOP presently.”
Read the article online at: https://www.worldfertilizer.com/project-news/02112021/australian-potash-launches-aus12-million-capital-raise/
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