StockMarketWire.com - Sydney and London listed fertilizer group Salt Lake Potash said it would raise A$98.5m from a share issue as part of a financing package for its flagship Lake Way project in Western Australia state.
The company had also secured US$138m of debt financing with Taurus Mining Finance Fund No.2 and the Clean Energy Finance Corporation.
New shares in the company would be issued at 50 Australian cents per share, representing a 18% discount to the last closing price.
'In combination, these funds will enable the company to complete the funding and deliver the Project on schedule, with first sulphate of potash production expected in the March quarter 2021,' Salt Lake Potash said.
At 9:40am: (LON:SO4) Salt Lake Potash Limited share price was -3.25p at 31.75p
Story provided by StockMarketWire.com
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