Salt Lake Potash Ltd - Western Australia-focused organic sulphate of potash miner - Draws down final USD33 million tranche of its USD138 million senior debt facility.
Funds will be used for general operating expenses during the ramp up of its Lake Way project.
Notes USD11 million has been escrowed for early repayment in June 2022. Conditions for final drawdown completed after AUD28 million equity placement.
Chief Executive Tony Swiericzuk says: "We are pleased to have concluded the debt financing process and would like to thank all our financial stakeholders for their support in funding the Lake Way project. We now look forward to delivering the project and ramping up SOP production over the next 9 to 12 months."
Current stock price: AUD0.40
Year-to-date change: down 1.3%
By Paul McGowan; paulmcgowan@alliancenews.com
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