Sevo is Tony Swiericzuk lying here ?SO4 managing director and...

Sevo is Tony Swiericzuk lying here ?

SO4 managing director and CEO Tony Swiericzuk said: “The entire SO4 team is committed to the success of the Lake Way project and has been working tirelessly through the harvest salt pond management system and plant commissioning challenges over the last few weeks.

“We are disappointed these challenges have pushed out our expected ramp-up profile, however, the project fundamentals remain attractive

“I am grateful for the support and patience of our shareholders and our lenders as we work towards delivering first SOP and positive cash flow.”

The revised ramp-up strategy involves suspending the initial plant feed program following the processing of the first 90,000-110,000 tonnes of harvest salts, to enable more salts to precipitate before commencing continuous harvesting activities.

As such, forecasted SOP production for the financial year 2022 has been reduced and the company will require further funding.

Discussions have commenced to address the issue and the market will be updated once the talks are completed and agreed.