Salt Lake flags another offtake partner

SALT Lake Potash has signed a non-binding offtake agreement with a fertiliser distribution company in China for up to 50% of its production over an eight-year period starting 2020.
Salt Lake flags another offtake partner Salt Lake flags another offtake partner Salt Lake flags another offtake partner Salt Lake flags another offtake partner Salt Lake flags another offtake partner

The Chinese distribution company Sinofert Holdings is described as the country's leading fertiliser supplier and distributor.

Salt Lake said it soon plans to start construction of a demonstration plant at Lake Way producing up to 50,000tpa of high quality SOP, with it planning to distribute production through a "small number of global distribution partnerships".

Salt Lake already has an offtake MoU with Mitsubishi.

Lake Way could cost about $50 million to bring into production, with initial output flagged for early 2020.

Lake Way is a previously mined gold open cut near Wiluna containing "super saturated brine".

Salt Lake started the September quarter with A$5.7 million cash.

The company features well recognised corporate executive Ian Middlemas and his team of Matthew Syme and Mark Pearce, and well-known capital markets operative Jo Battershill.

Shares in Salt Lake were up 3.3% to 46.5c in morning trade, capitalising the company at $81 million.