ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

SO4 Salt Lake Potash Limited

2.45
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Salt Lake Potash Limited LSE:SO4 London Ordinary Share AU000000SO44 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.45 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Salt Lake Potash Share Discussion Threads

Showing 701 to 720 of 875 messages
Chat Pages: 35  34  33  32  31  30  29  28  27  26  25  24  Older
DateSubjectAuthorDiscuss
23/9/2021
21:02
They are in a whole world of pain.

Still surprised that Tony S is the only casualty from the exec team and Board so far...surely the chairman and finance director have to go as well.

lookingforhelp
23/9/2021
19:13
Suspension on ASX extended until October 7th - another two weeks.
Rumoured to be looking for $100m AUD in new funding. And, evidently, finding it very hard to get it.

tigerbythetail
22/9/2021
07:45
ASX suspension runs out at the end of this week, so we're due either an extension or a resolution of some kind before then.
I think you can see the difficulty of finding any new money for this project in the time this is taking.
4p AIM share price seems to be saying that current equity in this company is either going to be nearly wiped out by dilution to raise new money, or that the company will be forced into a lowball sale.

tigerbythetail
13/9/2021
10:30
It is decision time right now for those that bought shares at a very much higher price. Do you average down as a complete gamble? A decision for the brave!

Anyone buying at the high around 44p could invest the same sum at 4.5p bringing the average down to 8.17p. Or be very brave and gamble double averaging 6.43p. Or treble averaging 5.81p. It could be throwing good money after bad or maybe not as one cannot be sure to be sure?

noirua
13/9/2021
08:30
Today's news probably eliminates / reduces one of the worst risks here - that of immediate administration.
You have to think that the new CEO wouldn't join the company without a fair degree of informed confidence that the required funding will be raised.
But there are still lots of questions:
1. I'm assuming that the new money will be equity rather than debt. But how much dilution and at what share price?
2. The new guy has no experience of salt evaporation. It's worth reading what they say about him on Hot Copper as well.
3. The new guy has worked a great deal for Glencore, and Glencore engineers are reported to have been on site. Is this going to end up with a partial or complete Glencore takeover? The general commodity outlook for fertilizers is strong, so the operation might appeal to a predator despite its current problems.
p.s. Today's RNS the first time the world "turnaround" has been used for the current situation. We still haven't had the full confession of the plant's obvious problems yet.

tigerbythetail
13/9/2021
07:03
Why join a sinking ship ? Or is it afloat again ?
kennyp52
13/9/2021
05:34
Hahaha...one of Tony Swiericzuk's mates from Fortescue.

Great.

lookingforhelp
13/9/2021
00:56
Salt Lake Potash Limited ASX/AIM SO4 ABN 98 117 085 748 239 Adelaide Terrace Perth WA 6000 Australia Telephone +61 8 6559 5800 Email info@so4.com.au Website

Appointment of CEO Salt Lake Potash (SO4 or the Company) is pleased to advise that Isak Buitendag has been appointed as CEO of the Company, subject to requotation of the Company’s securities on the ASX. • Mr. Buitendag will be joining from his position as General Manager of Transformation at Kazzinc (69.7% owned by Glencore). • Prior to Kazzinc, he was Vice President of Operations and Vice President of Development at Kazchrome, the largest ferrochrome producer in the world. • Mr. Buitendag has significant experience in Executive roles within the mining industry in Australia, Kazakhstan, and Africa, including at BHP and Fortescue. • In an Executive capacity, he has led teams in project development and minerals processing and has a track record of delivering business turnarounds. • The SO4 board believes Mr. Buitendag’s skills and reputation as a disciplined operator and manager will serve shareholders well and look forward to his leadership bringing the Lake Way Project into a sustainable, profitable operation. “I’m excited to be joining SO4 at such a critical stage of its development and look forward to working with the team to deliver Lake Way and grow the business into a meaningful player in the global SOP market

noirua
12/9/2021
13:13
Now for those not in the know this could be a gamble to nothing or not very much like Sirius Minerals formerly LSE: SXX and now part of Anglo American: American has agreed a,primarily used as a fertiliser.

Anglo American's acquisition offer valued Sirius at 5.5 pence ($0.07) per share – representing a premium of 34.1% to the share price at the close of play on 7 January, when the two parties made the initial agreement.


SXX shares peaked at 48p intraday and fell to a low point of 3.5p and taken over at 5.5p. So a loss of 87% for a few and a profit of 57% for a few. So we can see the gamble at SO4!
As to SO4 only the London AIM market shows the full chart of events:

So from all this you may be able to work out something for yourself?

There is an unsubstantiated rumour that a loan deal is due to be finalised at 7c a share or 3.75p. Probably rubbish but you cannot be sure to be sure.
The share price if a deal is done is a guess as we can't be sure which way the market will take it. Maybe it would be joyful and relieved or on the other hand somewhat piddled off with the events with trust killed stone dead.

[reprinted as I posted on an Australian website]

noirua
10/9/2021
10:33
Raise rumoured to be priced at 7 Ozzie cents - that's 3.73p in our money for 90m AUD. Not clear yet if it will be successful.

Seems about right to me, and you can work out the likely dilution from there. It's not a pretty picture.

I'm not a shareholder, but yes, suing the CEO / board would seem to be fair enough in this case. IMO, no way have they communicated information to the market as required.

tigerbythetail
09/9/2021
09:41
Apparently SO4 may be looking for a refinancing of $90m AUD + new CEO. The word is out that is what is being hawked around. Obviously, it's taking a while to get the money. (I don't expect there is a queue of willing financiers).
Company still has not confessed what the (evidently, very serious) problems with the operation are, and indeed why they weren't reported to market in a timely manner.
So, either a raise at a very low price, a big debt for equity swap wiping out current shareholders, a very lowball takeover, or just possibly administration. Nothing good here.
So, KevinRoe, get over it and grow some balls. You've lost your money. Most of it, possibly all of it. I'm sorry for other shareholders, but not for you.

tigerbythetail
06/9/2021
13:08
Worth reading the SO4 board on Hot Copper.
Fools rush in where wise men fear to tread, and all that...

tigerbythetail
03/9/2021
08:27
Refinancing negotiated it multi bags back up .. not sorted .. bump
kennyp52
02/9/2021
18:53
It'll be owned by Taurus soon.
lookingforhelp
02/9/2021
14:18
It is a long time since I bought SO4 shares. The last time was in 2015 at 2.5p a share and sold out some years ago. So today I bought some at under 4.5p as 5p/ 9.5c was my target after the bad news.
The shares are a gamble now though there is an outside chance of a major like BHP or Anglo being interested.

noirua
01/9/2021
21:40
I personally think this stock is heading for administration.
lookingforhelp
01/9/2021
21:39
MeanReverter whilst the CEO is guilty for his reprehensible posting on LinkedIn (which will lead to a class action), the Chairman is equally to blame. Ultimately, the Chairman has to bear the responsibility when the CEO goes rogue. The Chairman should have a constant view on the balance sheet and cash outflows and if the latter is ultimately bigger than the former, then it is the Chairman's role to either reign in the spending or raise more money. In this case, just like BKY, PDZ, CPL and PNL, the Chairman has once again fallen asleep at the wheel.
lookingforhelp
01/9/2021
15:47
Like it lefrene ... so much BS these days ! :-))
kennyp52
01/9/2021
14:43
kennyp52, they must have borrowed Biden's speech writer for that one! :¬)
lefrene
01/9/2021
14:34
The problem with SO4 is that the process doesn't work. If anyone is to blame, it is proximately the engineers who designed and tested the supposed process for producing potassium sulfate from the Lake Way brine and gave it the all-clear. At the company level, the responsibility falls on the shoulders of the CEO at the time when the engineers' report was accepted.
meanreverter
Chat Pages: 35  34  33  32  31  30  29  28  27  26  25  24  Older

Your Recent History

Delayed Upgrade Clock