Salt Lake Potash Limited Lake Way Project Reaches 60% Completion (8800Y)
14 Settembre 2020 - 9:08AM
UK Regulatory
TIDMSO4
RNS Number : 8800Y
Salt Lake Potash Limited
14 September 2020
14 September 2020 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
-------------------------
LAKE WAY PROJECT REACHES 60% COMPLETION
Salt Lake Potash Limited ( SO4 or the Company ) is pleased to
provide an update on its Lake Way Project at Wiluna in Western
Australia. The Project remains on schedule to deliver first SOP
production in the March quarter of 2021.
HIGHLIGHTS
-- Total project is now 60% complete on an earned value
basis.
-- Major vendor procurement packages over 90% commited with
fixed costs.
-- At the process plant site concrete foundations poured by
Flanco are more than 80% complete, installation of structural steel
supplied by Metro Steel has commenced and first carbon steel tanks
have been installed by Proweld.
-- Long lead procurement items have commenced arriving on site
including the Veolia crystallisers with associated components and
tanks, and transformers from Wilson.
-- Vendor packages currently in transit to site include lump
breaker, attritioners, wet screens and centrifuges.
-- A ll permanent buildings are now on site and installed
including the permanent village, construction village, warehouse,
workshop, administration, reagents, laboratory, ablutions, crib
rooms and 4G communications has been installed across site.
-- Development of On Lake infrastructure continues to progress.
Work has commenced on the fourth of six pond trains and 62km of
trenches have now been completed.
-- The Paleochannel drilling programme continues with the sixth
bore hole now underway. All bores have intercepted basal sands in
line with the model prediction.
TONY SWIERICZUK SO4 Chief Executive Officer
"On site activity will be accelerating over the coming weeks as
we move into the peak construction phase of the process plant and
non-process infrastructure. The SO4 owners team and GRES continue
to do an outstanding job driving all workstreams on-schedule with
first SOP production due in Q1'21."
OFF-LAKE Construction UPDATE
Progress at the process plant and non-process infrastructure
site has accelerated in recent weeks. Structural steel has
commenced being erected at site. Long lead time items are arriving
and being assembled at site. The Veolia crystallisers arrived at
the beginning of August, three weeks ahead of schedule. Many other
packages are currently enroute to site for installation in Q4
2020.
ON-LAKE UPDATE
On-lake, the Company has commenced construction on the fourth
pond train out of a total six. 62km of trenches have been
completed, an incremental 14km since the end of the June quarter.
The Paleochannel drilling campaign continues with the sixth hole
currently being drilled at Pad 14 and all holes intersecting the
basal sands in line with model prediction.
For further information or to view a full version of this
announcement, including site layout and photos, please visit
https://www.so4.com.au/asx-announcements/ or contact:
Tony Swiericzuk / Richard Knights Salt Lake Potash Limited Tel: +61 8 6559 5800
Colin Aaronson / Seamus Fricker Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Derrick Lee / Peter Lynch Cenkos Securities plc (Joint Broker) Tel: +44 (0) 131 220 6939
Rupert Fane / Ernest Bell Hannam & Partners (Joint Broker) Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the
Managing Director, Mr Tony Swiericzuk.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Forward Looking Statements
This announcement may include forward-looking statements. These
forward-looking statements are based on Salt Lake Potash Limited's
expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Salt Lake
Potash Limited, which could cause actual results to differ
materially from such statements. Salt Lake Potash Limited makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, to reflect the circumstances
or events after the date of that announcement.
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END
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September 14, 2020 03:08 ET (07:08 GMT)
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