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 Shares Traded Last Trade
  -0.025 -0.63% 3.925 744,302 12:31:50
Bid Price Offer Price High Price Low Price Open Price
3.90 3.95 3.95 3.925 3.95
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Metals -19.64 -3.04 32
Last Trade Time Trade Type Trade Size Trade Price Currency
12:31:50 O 77,679 3.902 GBX

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Date Time Title Posts
24/9/202123:46 SALT LAKE POTASH LIMITED 726

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Salt Lake Potash Daily Update: Salt Lake Potash Limited is listed in the Industrial Metals sector of the London Stock Exchange with ticker SO4. The last closing price for Salt Lake Potash was 3.95p.
Salt Lake Potash Limited has a 4 week average price of 3.93p and a 12 week average price of 3.93p.
The 1 year high share price is 33p while the 1 year low share price is currently 3.93p.
There are currently 816,475,721 shares in issue and the average daily traded volume is 1,335,624 shares. The market capitalisation of Salt Lake Potash Limited is £32,046,672.05.
tigerbythetail: 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: 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.
noirua: 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 Http://www.so4.com.au 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: 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: Https://www.nsenergybusiness.com/news/anglo-american-sirius-minerals-2/#:~:text=Anglo 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. https://uk.advfn.com/p.php?pid=staticchart&s=L%5ESXX&;p=9&t=47 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: http://uk.advfn.com/p.php?pid=staticchart&s=L^SO4&p=9&t=46&vol=1 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]
tigerbythetail: 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: The share is suspected in ASX (it's main market) pending details of a capital raise to save the company. Somehow it is still trading on AIM, which is a bit weird. News has been promised by the end of the month. Questions abound as to whether the current equity in the company has any value at all - it all depends on the terms SO4 can obtain for the new money. It's fair to say that management credibility is almost non-existent now. Hot Copper bulletin board for SO4 will keep you updated with the broad outlines of the saga. Best of luck whatever way you jump. But right now SO4 isn't an investment, it's a straight up gamble on the terms of the refinancing.
kennyp52: 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.
crackerboy: 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.
dearg doom: Shareholders have been taken in by management and dumped upon once again. I know, I have. The share price falling today by 50% to 8p comes with justified negative sentiment. A real sickener! Market cap has been reduced by £50 million-plus in anticipation of funding to come and the reduced production. Didn't see it coming but the signs of share price weakness were there. The missed production gap needs to be funded. Now know why loans were expensive. Is the £50 million market cap lost today just due to the original quarterly planned production being delayed until 2022? So is the drop fair? Not clear. Also of concern is the cost of the new CAPEX required. The model has changed and by how much or has it collapsed altogether? Other future lakes will have the same issues, I suspect. The multi-bagger may be more about getting my investment back. After the share price precipitous fall, do I take the lower price as the lake bottom? Probably, expect to see some recovery and share price falls many times over in days to come. Increased my holding by 25%. Not entirely rational.
dearg doom: The remaining 10% probability could be that the new shares are issued at a discount to the closing price in London at 24p. Those inividuals/institutions close to the company pick up cheaper shares than otherwise,they might have. Some news leakage beforehand may have encouraged sellers to expect share price weakness. Hence, the unlikely timing of share price fall below 30p, This was further exasperated by an RNS with advance notice of an equity raise. The dual listing in London and Australia, briefly created an imperfect market with one exchange trading halted and the other exchange continuing to trade. If new shares are issued at moderate discount to 30p would help re-enforce everything is above board. Share price depending on size of equity raise could bounce back to 30p in quick time.
Salt Lake Potash share price data is direct from the London Stock Exchange
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