9 months ! baby elephant to born if not a baby white elephant for the shareholdersResignation of CFO Salt Lake Potash Limited (SO4 or the Company) advises that the Chief Financial Officer, Mr Shaun Day, has tendered his resignation.
Mr Day has accepted a role as CEO of a resources company and, having completed the equity raising to enable initial draw down of the Company’s debt financing,
believes it is an appropriate time for the change.
I know potash is looking attractive, but surely there's better looking charts out there....?
For me, the CFO leaving after attracting the finance deal puts the company in a no trade basket for a period of time...
a pregnancy - 9 months.
SO4 closed up +13.04% on January 27, 2021, on 2.83 times normal volume.SO4 flying today @ 0.515c +12%! on very big volume/momentum etc.
836K parcel just went through @ 0.5175c !
SO4 project on track/nearing completion in Feb/Mar '21 reported recently per belowYeah, I also noticed that there was no news today. Stock must have been pumped by someone.
4C quarterly report due by tomorrow I believeSO4 project on track/nearing completion in Feb/Mar '21 reported recently per below
Salt Lake Potash SO4 +5.26% today.. as not long to go now till the much anticipated development of Australia’s first commercial-scale potash brine development in Wiluna, WA expected to commence in production by March '21
SO4 +5.93% this morning.. nice start to a MondaySalt Lake Potash directors show faith in company through A$8 million placement participation
The company is focused on transitioning from developer to producer at Lake Way SOP Project in Western Australia and aims to complete construction and begin commissioning the process plant in the current quarter.
Salt Lake Potash Ltd SO4 directors have demonstrated their confidence in the company’s potash strategy by participating in the company's recent A$8 million share purchase plan (SPP).
The initial A$5 million SPP target was increased following strong demand from existing retail shareholders.
Director participation was approved by shareholders at a general meeting on January 22.
Chairman Ian Middlemas purchased 3 million shares on that date with a total value of A$1.2 million in an indirect interest taking his total stake in that interest to 20 million shares.
Chief executive officer Tony Swiericzuk acquired 500,000 shares on February 11 in a direct interest with a value of A$200,000, increasing the number of securities held to more than 5.2 million.
Non-executive director Philip Montgomery acquired 1.25 million shares for a total of A$500,000 in an indirect interest representing his first purchase of fully paid ordinary shares.
Matthew Bungey, a non-executive director, acquired 150,000 shares valued at A$60,000, increasing the number of securities held in an indirect interest to more than 1.9 million with almost 107,000 also held in a direct interest.
Non-executive director Peter Thomas purchased 125,000 shares valued at A$50,000, increasing his stake in a direct interest to 245,000 shares.
In a separate on-market transaction, non-executive director Bryn Jones on February 12 acquired 75,000 shares valued at A$32,250 in an indirect interest and now holds 140,625 shares in that interest
The SPP was heavily oversubscribed with applications received for A$10 million at the issue price of A$0.40 per share and this necessitated a scale-back of valid applications in proportion to the total dollar value of valid applications.
On a pro-rata basis, all eligible shareholders, who submitted valid applications have been allocated approximately 83% of their application amount.
A total of 20 million new fully paid ordinary shares have been issued under the SPP, representing approximately 2.7% of SO4’s ordinary shares on issue post completion of Tranche 2 of the placement.
Of the SPP, Swiericzuk said: “On behalf of the company, I would like to thank all of our shareholders for their ongoing support as evidenced by the strong demand for the SPP.
“The funds raised through the placement and SPP, have enabled the company to achieve financial close on the US$138 million Taurus/CEFC debt facility and draw the initial tranche of US$105 million and to finalise development of the Lake Way Project.”