Salt Lake Potash Share Discussion Threads

[lookingforhelp] 12/8/2021 08:37

They should all have their performance shares and options stripped.

This Perth group of entrepreneurs has left a trail of destruction...SO4, PDZ, BKY, AON, CPL, PNL. They probably don't give a toss given they made a bit of money on a uranium play (luckily sold it to the Russians just before Fukushima or something) and a gold play in West Africa (they sold Fekola to B2 Gold - and got schooled on that one as they sold way too cheap).

[kennyp52] 12/8/2021 07:44

SALT LAKE POTASH LIMITED
ISSUE OF PLACEMENT SHARES TO DIRECTORS
----------------------------------------

Salt Lake Potash Limited ("SO4" or the "Company") is pleased to announce that it has now completed the issue to Directors of 2,805,000 ordinary shares of the Company of no par value ("Ordinary Shares") at A$0.35 per share, being Tranche 2 of the Placement originally announced on 24 May 2021, following shareholder approval at a General Meeting held on 13 July 2021.

Directors' interests

Shares were issued as follows:


Number of Ordinary Total Number of Percentage of enlarged
Shares issued Ordinary Shares issued share capital
following issue
Ian Middlemas 2,500,000 22,500,000 2.76%
Tony Swiericzuk 250,000 5,454,470 0.67%
Peter Thomas 55,000 300,000 0.04%

Mr Swiericzuk also holds an indirect interest in 5 million unlisted options and 5,879,377 performance rights. Mr Thomas holds an interest in 500,000 unlisted options.

[activmojo] 11/8/2021 10:24

FYI
This sanction will have impact, but at this stage with SO4 who knows what. If they had been in production it could have been very good. Maybe it will motivate a buyer or the BOD

[melody9999] 06/8/2021 22:59

Canadian mounted - IMV the last RNS brings into question whether this company has a viable business model and how long it will continue as a going concern. I sold my remaining position at 17p taking a hefty loss. Recommend you be very careful - lots of places to make money in the current market but this could be a place to lose 100%.

[tigerbythetail] 06/8/2021 21:05

No dead cat bounce at all here - just a precipitous drop and then a slow slide even lower.
It seems to me that the market is essentially saying that the equity has almost no value here. Low ball takeover? Debt for equity swap and massive dilution for existing shareholders?

[kennyp52] 05/8/2021 13:56

EQX has a big write down coming then ! Could it be Ian Middlemas raided the piggy bank over there to save his blushes here .. and ended up knackering both companies ?

[crackerboy] 05/8/2021 13:27

Among his other roles, Ian Middlemas is chairman of both SO4 and a mineral exploration company Equitorial Resources Ltd (EQX)that is listed on ASX. In September 2020, EQX became the holder of 34,222,223 SO4 shares at an average cost of A$0.47 per share. The rationale for that investment is stated in EQX's year-end accounts:

"Equatorial believes that its liquid investment in SO4 will provide shareholders with higher returns than its cash reserves can generate, while the Company continues to progress its Badondo Mining Licence application".
hxxps://www.equatorialresources.com.au/uploads/2/8/0/8/28084707/eqx_financial_report_2020_final_merged.pdf

EQX's market cap has fallen from A$39m to A$30.8m since SO4's recent news. Maybe cash would have been the safer option.

SO4 seems to be still suspended on ASX pending an announcement anticipated by 16/8/21. There's probably a reason for the suspensions across ASX/AIM to be inconsistent but I don't know what it is.

[ukgeorge] 02/8/2021 08:58

The RMS thread seems to have you quite well summed up

[the canadian mounted] 02/8/2021 07:29

‘We’? Are you a split personality?

[tigerbythetail] 02/8/2021 07:11

You really don't need to try so hard to show you're an idiot - we understood from the very beginning.

[the canadian mounted] 02/8/2021 07:06

Right so you’re steering clear,ok I get
It.so bye bye 👋 meanwhile I will make a
Tidy profit

[tigerbythetail] 01/8/2021 18:17

For what it's worth, I wouldn't put money in KLL either. (And this comes from somebody who is a big believer in a positive long term outlook for both potassium and phosphate fertiliser producers over the next decades as soil depletion hits agriculture hard).
But Sevo has been spot on with his analysis of SO4. IMO, people should have paid far more attention to the departure of the technical director a few weeks back. That was the "hint" to get out in time.
And yes, at some point this will bounce, because shares in this position almost always bounce, and never just drop in a straight line. I don't know if this will bounce from 7p, or 5p or 3p, but at some point it will soar 50% in a day. And then drop back again as traders take profits. And somebody will get the timing right and make money on that bounce and congrats to them.
But more will lose than win playing that fools' game. So I'll stick to staying clear given the long term outlook is so poor. I think this ends in the company being taken over for pennies to avoid bankruptcy. Current management have driven the company at high speed into a brick wall - this is a major wreck.

[elviron] 30/7/2021 22:27

TBT more or less has the right of it, and he is a pretty experienced mining investor. Always worth considering his views even if you disagree with them on occasion...

This share is uninvestable until the funding question is fully addressed. And don't forget how many times shareholders have been told that funding is complete already! It's 3 and counting now. Tony has negative 100 credibility.

The thing that fooled me into investing a modest amount at 16p was that the Chairman himself put in $500k (US) at 20p in the last raise. Surely, he cannot have known what was to come. I sold what remained as fast as I could (got 10p) when the share came online again - a handsome 35% haircut for believing that they must have been over the line with plenty of change to spare after the last raise at 20p...

[1234gold] 30/7/2021 17:49

Sevo on HotCopper is a clown. He was part of the Kalium Lakes support club...many suspect he's actually a KLL employee.

[clickbait] 30/7/2021 17:48

Well done everyone that sold...

[the canadian mounted] 30/7/2021 17:39

Repeating parrot fashion company statements is just amateurish at best
And desperate de ramping at worst

[tigerbythetail] 30/7/2021 17:26

Hardly. "Novice" is actually rather funny, if you did but know.
Advice for any beginners here - read HotCopper commentary on this stock. Especially the comments of "Sevo".
There are huge questions about the viability of this company, and the basic evaporation chemistry they are using.
Avoid until the @ $100m AUD equity required has been raised - at the very least. The company are against the clock, and market sentiment is against them, and the best outcome is that they will get forced to raise at a very low price. Debt finance, of course, is off the table.
The worst outcome is that they are forced into either a default / breach of covenants on the Taurus loan or a bankruptcy type event. The probability if this is alarmingly high (over 50% IMO).
So, yes, run a mile and keep running. Very much so.

[the canadian mounted] 30/7/2021 17:17

Absolute rubbish ‘run a mile and keep running ‘.thats a novice statement from a inexperienced punter

[tigerbythetail] 30/7/2021 16:31

There seem to serious problems with the numbers in this latest RNS.
Have a look at the questions they are raising on Hot Copper.
I guess they issued it without checking it, in a hurried attempt to stop the bleeding of the share price.
I certainly don't think this is a dip to be bought. IMO, this is a run a mile and keep running situation.

[the canadian mounted] 30/7/2021 13:58

Way way oversold,certainly not the end
But the beginning of a productive company