Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) (FRA:W1D) continues to march towards first sulphate of potash (SOP) production from Lake Way Project in Western Australia in the near term by concluding the debt financing process.
The company has received debt funds from the final US$33 million tranche of its US$138 million Senior Debt Facility and has also received funds from its recent A$28 million placement.
Guarantee Facility executed
In addition, Salt Lake Potash has executed the A$18 million Guarantee Facility with Sequoia Economic Infrastructure Fund (SEQI), which allows the release of A$18 million of equity back into the project.
These funds will be used for general operating expenses during the ramp-up of the Lake Way SOP Project.
Ann: Production and Commissioning Update, page-49
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