Salt Lake Potash Limited (DI) (SO4)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

47.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 49.00
  • 52 Week Low: 23.20
  • Currency: UK Pounds
  • Shares Issued: 255.99m
  • Volume: 73,222
  • Market Cap: £120.31m
  • Beta: 0.00

Salt Lake Potash buoyant as lease costs slashed in Western Australia

By Duncan Ferris

Date: Thursday 13 Dec 2018

LONDON (ShareCast) - (Sharecast News) - Salt Lake Potash enjoyed a boost on Thursday after the Western Australian State Government launched an initiative to assist the development of the potash industry in the region.
The first government measure will introduce a new rental rate for potash projects, dramatically reducing the existing rate of mining leases from AU$18.70 per hectare to AU$2.32 per hectare in the first five years and then $4.64 per hectare thereafter.

Mines and Petroleum Minister Bill Johnston said: "These changes will assist the development of a new industry in Western Australia, and create employment and community development opportunities, particularly in remote Aboriginal communities. Potash projects generally have a mine life that spans 30 to 40 years, so this longevity is a win for local communities and sustaining jobs."

The AIM traded company said that the new initiative comes at an opportune time as it begins new developments at Lake Way, including the imminent construction of the Williamson Ponds and the 'whole of lake' resource program to enable the consideration of larger scale production scenarios.

Mr Tony Swiericzuk, Salt Lake Potash's chief executive, said: "The commitment by the government towards the development of the Potash industry will provide significant benefits as we progress the Lake Way Project. We look forward to working with the government in the development of a new industry in Western Australia that will create vast opportunities to remote regions including Wiluna."

Salt Lake Potash's shares were up 7.84% at 27.50p at 1307 GMT.

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SO4 Market Data

Currency UK Pounds
Share Price 47.00p
Change Today 1.00p
% Change 2.17 %
52 Week High 49.00
52 Week Low 23.20
Volume 73,222
Shares Issued 255.99m
Market Cap £120.31m
Beta 0.00

SO4 Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.09% below the market average56.09% below the market average56.09% below the market average56.09% below the market average56.09% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
97.69% above the market average97.69% above the market average97.69% above the market average97.69% above the market average97.69% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SO4 Dividends

No dividends found

Trades for 11-Oct-2019

Time Volume / Share Price
15:46 2,065 @ 47.88p
11:48 515 @ 46.30p
11:42 20,000 @ 47.88p
09:00 2,178 @ 46.30p
08:37 9,000 @ 46.35p

SO4 Key Personnel

Chair Ian P. Middlemas

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