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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Salt Lake Potash Limited | SO4 | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.45 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.45 |
| Top Posts |
|---|
Posted at 22/9/2022 10:34 by investaway Do small retail investors have to seek independent legal advice?Or is there going to be collective legal action on behalf of all shareholders? I'm from the UK and it seems to me this is a massive case of misrepresentation. Anyone been in a similar situation before with what is happening with this? I'm not happy. Feel as if I have been scammed and I hope there is something done about this. |
Posted at 22/9/2022 07:18 by noirua Voluntary Administrator’21 September 2022 Czech family-owned energy investments business Sev.en Global Investments has emerged as the buyer for bankrupt ASX-listed Salt Lake Potash, securing its second deal Down Under in the space of a few days. The West Australian Salt Lake Potash investors in May 2021 fundraising ‘potentially misled’, special administrator says |
Posted at 06/9/2022 12:17 by noirua Salt Lake Potash deal ready to land; offshore buyer in box seatAnthony Macdonald, Sarah Thompson and Kanika Sood Sep 6, 2022 – 5.44pm Save Share ASX-listed Salt Lake Potash, which has been up for sale since February, has finally found a new owner to take the keys. Salt Lake Potash’s Lake Way project (pictured) has found a new owner. Street Talk understands Macquarie Capital had locked in an offshore buyer to buy Salt Lake’s assets, and was working through the final pricing details on Tuesday evening. Sources expected the buyer to sign the dotted line within in the next 48 hours. It would spell the end of a long saga. Salt Lake Potash was pitching itself as the first Australian producer of sulphate of potash, a chemical used in fertilisers, when it hit the skids with too much debt and operational troubles at its flagship project Lake Way in Western Australia. Its lenders, who had security over Lake Way, called in restructuring firm KordaMentha in October 2021, as Salt Lake Potash’s troubles continued, equity investors refused to tip in more money and lenders refused to relax repayment terms. KPMG was also appointed as administrator. The listed Salt Lake Potash had a $250 million market capitalisation prior to the appointments, and counted Ellerston Capital and Swiss firm Lombard Odier Asset Management among investors. The lender syndicate was owed about $160 million and included Commonwealth Bank of Australia, Taurus Funds Management and the Clean Energy Finance Corporation. Receiver KordaMentha mandated Macquarie Capital to run a sale or recapitalisation in February, and was expected to reach out far and wide to look for new backers amid perky potash prices. It is understood the deal being discussed on Tuesday night would see Salt Lake Potash sold to a buyer, rather than an injection of new funds into the existing capital structure. |
Posted at 15/10/2021 09:20 by noirua Investor Presentation 24 May 20211 October 2021 AIM and ASX listed company Salt Lake Potash Limited ("SO4" or the "Company"), announces its results for the year ended 30 June 2021. or |
Posted at 01/10/2021 08:30 by tigerbythetail AFR article:Troubled commodities aspirant Salt Lake Potash now believes it will start generating revenue just weeks before it is due to start repaying debt, giving it a strong incentive to end its habit of over-promising and under-delivering.Sal Equity markets have been extremely accommodating for junior resources stocks over the past year with pre-revenue exploration companies raising record amounts of cash in each of the past three consecutive quarters.In that market context, investors spoken to over the past week believed Salt Lake Potash would most likely be given another chance to get its project working.Lenders such as Taurus Funds Management have security over the assets at Lake Way and the $US138 million debt arranged by Taurus carries interest rates of 9 per cent.Interest is charged at 12 per cent on a second $18 million loan with Sequoia Economic Infrastructure Fund.Salt Lake Potash is due to start repaying the Taurus syndicated loan on March 31, while repayments on the Sequoia loan commence on April 11. If those repayment schedules are not revised under the equity raising, the company faces a relatively urgent delivery schedule; Salt Lake Potash said on Friday it expects first potash production in March.The fundraising exercise will be doubly important for Salt Lake Potash chairman Ian Middlemas, who chairs a second ASX listed company that surprised investors by purchasing more than 44 million shares in Salt Lake Potash over the past year at between 40¢ and 50¢ per share.That company, Equatorial Resources, was an African iron ore aspirant with no obvious connection to Western Australian potash.The reality is worseEquatorial appears to have burned money on the Salt Lake Potash investment; Salt Lake shares were 31¢ when they went into a trading halt in July.But the reality is much worse; Salt Lake Potash’s London listed shares have continued trading through the Australian halt, and have lost 80 per cent of their value since the Australian stock went into the trading halt. That suggests the Australian stock is now worth closer to 6¢, and any equity raising will likely need to offer a discount to that price.It has been a bad year for companies chaired by Mr Middlemas; Equatorial was stripped of its iron ore project in the Republic of Congo, while uranium play Berkeley Energia suffered a negative permitting decision in Spain which led to the halving of its share price.Salt Lake Potash and its peers have tried to make a premium product called Sulphate of Potash (SOP), which is different from the Muriate of Potash (MOP) that BHP intends to produce in Canada later this decade.ASX listed Kalium Lakes is now poised to be Australia’s SOP pioneer, assuming it keeps to its recent promises.Two years ago Kalium Lakes was vowing to be in production in the 2020 calendar year. At the start of 2021, it vowed to be in production before September 30. In a market disclosure on September 16, Kalium Lakes talked about two different types of SOP; standard and granular.The company said it would sell “standard̶ |
Posted at 16/8/2021 12:19 by kop202 Medium/Long term whats the risk?The stuff is in the ground or in the lakeIts a simple operation.... Dilution yes ...delay yes But investors will be rewarded....eventual |
Posted at 27/7/2021 09:45 by adorling Another AIM CEO who should be fired for incompetence, lying to investors and misleading investors and the market. He will have to go as no serious AIM investor will back him anymore let alone any finance lenders.However, if there is a serious problem with the whole process to produce Sulphate of Potash then its probably lights out for a few years whilst they try and get it right if they can? Memories of Sirius Minerals CEO Chris Fraser comes to mind. |
Posted at 20/7/2021 08:34 by el-tel I am starting to become concerned at the lack of updates regarding production . Surely the company could provide some kind of update to reassure investors ? |
Posted at 06/7/2021 11:30 by 1234gold Its impossible to rule out another cap raise - how many times have they now used the phrase 'fully funded' yet still had to go out and raise more equity ? I'm amazed the regulator hasn't investigated this one over its announcements. This has really been stuffed up and ruined any upside for equity investors. |
Posted at 29/6/2021 09:06 by 1234gold This is not as bad as SXX, that was just a terrible story from day one and promoted to unsuspecting retail investors. The SO4 project is solid...the reason I say its unbackable is because of the naivity around the funding. To tell the World you won't need to raise more equity when the share count was 225m and to then allow it to blow out to over 700m through issuance after issuance tells me they have no idea. |
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