Salt Lake Potash Share Discussion Threads

[kennyp52] 07/1/2021 17:20

There is no new placing ...FFS

[seans66] 07/1/2021 10:12

Thanks George. Once the placing is out of the way, things should get exciting.

[ukgeorge] 07/1/2021 09:44

I'm with Iweb

[1234gold] 07/1/2021 09:40

Sometimes I think people should be made to take an IQ test before being allowed to own shares.

This is an SPP, as announced with the placement im December that allowed financial close enabling the drawdown on the debt.

Its not that difficult to understand.

[kennyp52] 07/1/2021 09:29

Nope and why do they need a placement when ...

First Drawdown of US$105m under the SFA Received

[seans66] 07/1/2021 09:26

What platform was that? I am with HL & still waiting.I am definitely taking up the offer with only a few months until production & revenue generation. Recent events are a bump in the road, too many PI's are too emotional & should & need to expect that fast growing business face challenges. In a years time it will be clear that we are in a fantastic buying opportunity.

[ukgeorge] 07/1/2021 09:13

Anyone else get the below message. These are my only share in the red so I am a bit hesitant but will likely buy some.

"SALT LAKE POTASH is proposing an Offer for Subscription on the following basis:

New Salt Lake Potash shares at a cost of 22.6 pence per new share.

Shareholders can apply for one of the following amounts of new shares, 5,000 12,500 25,000 50,000 75,000.

Please express your election as the number of shares you wish to apply for.

By participating in this event and to enable us to execute your instruction it may be necessary for us to give your name and address to this company or its agents.

You Have The Following Option:

1 Accept the Offer and apply for shares at the price specified above."

[kennyp52] 30/12/2020 12:01

The project remained on track for the first sulphate of potash sales in the March 2021 quarter.


Is any of above no longer true ? If not then surely on the verge of production is worth a gamble ? I’m in for a few .

[kennyp52] 30/12/2020 11:55

(Sharecast News) - Salt Lake Potash has satisfied all remaining conditions under its syndicated facility agreement to achieve financial close, it announced on Tuesday, and had received debt funds from the first drawdown of $105m (£78.16m).
The AIM-traded firm had announced on 5 August that it had executed a $138m syndicated facility agreement with Taurus Mining Finance Fund No.2 and the Clean Energy Finance Corporation.

Following completion of the first tranche of the placement to raise AUD 50m (£28.12m)( before costs on 18 December, the company said it had satisfied all remaining conditions under the agreement to achieve financial close.

Funds representing the first $105m tranche had been received, the board confirmed, enabling repayment of the $45m bridge facility, and to further the completion of project construction.

"This is a substantial milestone in the development of the company and the Lake Way Project," said chief executive officer Tony Swiericzuk.

[bikwik] 29/12/2020 11:37

I was looking for a stock to trade this week that looked ready to run. I came up with a list of 4. Annoyingly I missed getting long of PIRI. Couldn't get filled at 4.20p when it was 3.90 to 4.20. The others were SAV, SO4 and ZNWD.

Though SAV and ZNWD both look good and up 9% or so, for some reason I have homed in on SO4. These are all based entirely on the chart I might add.

Bought some at 22.94p. Reason.....it looks to have completed an A-B-C correction or a ZIG ZAG. That's basically 5 waves down, three waves up and five waves down. Also in this case, the final bit of the five waves down looks like an ending diagonal.

Also, the final sell-off to 20.6p took the price under the bottom of a declining parallel channel (which provided the boundary of the correction since 35p). But now it has rebounded and looks like it will leave a bullish false downward break.

[aja2] 22/12/2020 09:31

There was an announcement on the asx either yesterday or Friday, I forget which.

[24952162] 22/12/2020 09:25

Guys, I tend to be more of a voyeur when it comes to bulletin boards, but I really think we need to move the conversation on regarding the CFO moving on. I've been a headhunter for 20+ years and my personal view is that you're probably reading way too much into this move.Yes the timing isn't great but the reality is that the hiring process for this role would have most likely started 3 months ago. Also, what CFO wouldn't consider being a CEO at some point, particularly in a business that's low-risk, performing well and offering 5/6m performance options on top of package. Let's move on. The lack of an announcement is probably a reflection of where the share is and not stoking the rumour mill.

[hootstox] 22/12/2020 08:20

Anyone seen anything of the SPP in their accounts? Would this come through as a corporate action?Given the longer window 22nd Jan, and the current (slight) discount to share price this may be of value.

[elviron] 17/12/2020 13:57

hxxps://cube.investments/joels-resource-report-the-most-successful-placing-machine-on-the-market-so4-so4/

The title of the above article is very apt, as is the associated picture.

STILL no word from SO4 apart their departing CFO!

[elviron] 16/12/2020 10:36

That's right, it's all in the past now (yesterday)! High time to move on and look towards the future...heads back in sand and fingers crossed the CFO has left the finances in good order.

Still no RNS from SO4 - surely they have to announce it?!

[spooky] 16/12/2020 10:20

Guys get over it, he's moved on to a better job. End of.

[elviron] 16/12/2020 10:10

UKG, it's NEVER a good thing. typical progression is as follows: CFO leaves, new CFO uncovers a shed load of worms which then explain why the former CFO left in a hurry, and to top it off new CFO kitchen sinks it so that he gets to blame absolutely everything on the former CFO and starts with a clean slate. Not good.

1234Gold, thanks but I maintain a keen interest in the progression of the company, so I'll stick around on this public BB for a while longer, if that's ok with you?

[1234gold] 15/12/2020 22:43

Then sell your stock (if you actually have any) and move on to a bulletin board where people are interested in what you have to say.

I've yet to meet a CFO who wouldn't resign for a CEO role...

[elviron] 15/12/2020 21:02

Huge RED FLAG (note the capitals):

1) SO4 have not even announced it yet! Are we still at a sensitive stage in the placement/debt funding? Shareholders had better hope not.
2) CFO leaving should ALWAYS raise alarm bells until a reasonable explanation is provided (e.g. retirement etc).
3) The timing of the CFO leaving could not be worse - immediately after a major f up in the funding, which would be the responsibility of guess who? The CFO.

[1234gold] 15/12/2020 20:00

Agreed. That's a great result for both the individual and Greatland Gold. Would have of liked to see him stick around until first cashflow ? For sure. I just find it amazing that SO4 hasn't felt the need to announce it.

[meanreverter] 15/12/2020 19:31

Elviron: It may be a misfortune for a company to have its CFO poached by a company with 5 times its market capitalization — but is that a red flag?

[elviron] 15/12/2020 08:53

And in breaking news, SO4 CFO has gone over to GGP as their new CEO.

Lucky GGP!

Hmmm, no RNS from SO4 yet...another HUGE red flag from this wonderful company.

[dartboard1] 15/12/2020 08:23

No bank will let a pre-producing resource company take out an fx swap prior to having the underlying debt instrument... I know it's fun to have a dig at everything that goes wrong, but sometimes things just go against mgmt, ... you can't build too much contingency in either as Taurus only want to lend them what is sufficient to get the job done. I'm not excusing all, just some...

[elviron] 14/12/2020 21:08

Dartboard,
To say that this is a major Rooster up would be an understatement. We were told in the summer that the Placing was not only going to fund to production but it was also going to provide a substantial buffer into ramp up. Now where's the buffer gone? There is none.
Regarding the FX, you say that you do't hedge until you have exposure but you are missing that SO4 had exposure to that debt from the point that it became part of the "final" funding package. Evidently, as look what happened! They either should have built a buffer into the debt itself to cover FX fluctuations or they should have used a portion of the placing money to hedge. It's pretty pathetic - currencies change value. At the time, the dollar had had a really strong move for months, who could possibly have forseen that it might have a correction! LOL.
Gas pipeline is another co k up - if there's a material chance that the funding arrangements aren't going to come through on time, then have a back-up plan. Ah sorry yes that's right, good old Tony did have a back up plan - screw investors over with another placing.