Middlemas and Swiericzuk investing in Salt Lake Potash

NEW managing director Tony Swiericzuk and well-known resource sector promoter Ian Middlemas are personally investing A$400,000 and $315,000 respectively in a $13 million fund raising being undertaken by Salt Lake Potash. 

Middlemas and Swiericzuk investing in Salt Lake Potash Middlemas and Swiericzuk investing in Salt Lake Potash Middlemas and Swiericzuk investing in Salt Lake Potash Middlemas and Swiericzuk investing in Salt Lake Potash Middlemas and Swiericzuk investing in Salt Lake Potash
An undisclosed "significant international investment fund" is said to become a cornerstone backer of the equity raising. 
 
Proceeds from the placement - priced at 42c per share, a 13% discount to recent trading levels - will be used to fund construction of the Williamson ponds and dewatering of the Williamson pit near Wiluna, as well as ongoing development of on-lake infrastructure, exploration and feasibility studies, and general working capital.
 
The development of Williamson involves processing of hyper-saline water in a mined-out open cut gold mine.
 
It is seen as the first stage development for Salt Lake, which holds extensive potash prospects in the north eastern Goldfields region o...

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