SO4 Salt Lake Potash Limited

TIDMSO4

RNS Number : 1319U

Salt Lake Potash Limited

21 November 2019

 
 21 November 2019   AIM/ASX Code: SO4 
 
 
 SALT LAKE POTASH LIMITED 
------------------------- 
 

NATIVE TITLE LAND ACCESS AGREEMENT EXECUTED FOR LAKE WAY PROJECT

Salt Lake Potash Limited (SO4 or Company) is pleased to advise that it has executed the Native Title Land Access Agreement (LAA) with Tarlka Matuwa Piarku (Aboriginal Corporation) RNTBC (TMPAC) for the whole of the Lake Way Project. SO4 has been working collaboratively with TMPAC on the landmark LAA which will provide for the continuing development of the Lake Way Project and significant benefits to TMPAC and the broader community.

HIGHLIGHTS

-- SO4 and TMPAC have executed the LAA that covers the whole of the Lake Way Project area and surrounding town of Wiluna

-- The execution of the LAA is a key milestone in the rapid development of the Lake Way Project

-- The LAA will provide significant benefits to TMAPC and the local community with opportunities for local Wiluna people to be directly involved in the Lake Way Project through employment and community engagement

-- SO4 and TMPAC have established a collaborative relationship enabling them to negotiate this landmark LAA that respects the heritage of the area and ensuring on-going benefits to the local community whilst providing SO4 with the certainty required to continue development

TMPAC have entered into the LAA with SO4 on behalf of the Wiluna People who are the recognised Native Title Holders of the land covering the Lake Way Project area.

The LAA provides tenure and native title approval security to SO4 for the duration of the Project and covers the whole of the Lake Way Project area. In line with customary industry standards, TMPAC and the broader Wiluna Community will receive significant economic, social and environmental benefits, including:

   --    Royalty payments; 
   --    Community support programs; 
   --    Employment & training; 
   --    Aboriginal business development and contracting opportunities; 
   --    Heritage protection and land management opportunities. 

The LAA includes an agreed procedure for the grant of any necessary statutory Aboriginal heritage consents for project operations as well as exclusion zones to protect areas of particular cultural sensitivity, all of which sit outside the footprint of proposed operations.

The execution of the LAA is a major milestone for the Lake Way Project and ensures remaining Mining Leases and associated tenure will be granted to support the rapid development of the Lake Way Project.

SO4 has been actively engaging with TMPAC and the broader Wiluna community for over 18 months as part of its commitment to establish early consultation and engagement into the design and implementation of the Lake Way Project.

MICHAEL TULLOCK

TMPAC Chairman

"This agreement supports the partnership that has been established between TMPAC and Salt Lake Potash which will provide on-going benefits for our people whilst ensuring the continued respect for the heritage and culture of the area"

TONY SWIERICZUK

SO4 Chief Executive Officer

"We are excited to enter into this landmark agreement with TMPAC who we have a very strong relationship with. The agreement lays the foundations for the Lake Way Project to have a significantly positive impact on the local community through direct employment and business opportunities as well as a project royalty stream. We understand the significance of the area's heritage and this is reflected in the agreement ensuring the Lake Way Project is able to proceed whilst respecting the heritage and culture of the area. The Lake Way Project has the ability to provide on-going benefits for the local community for multiple generations."

For further information please visit www.so4.com.au or contact:

 
 Tony Swiericzuk / Clint McGhie                  Salt Lake Potash Limited                    Tel: +61 8 6559 5800 
 Colin Aaronson / Richard Tonthat / Ben          Grant Thornton UK LLP (Nominated Adviser)   Tel: +44 (0) 20 7383 5100 
 Roberts 
 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 
 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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