Jason MennellKalgoorlie Miner

Thursday, 18 July 2019 9:14AM

Australian Potash boss Matt Shackleton with a sample product of potash.Picture:Ross Swanborough / The West Australian

Australian Potash could be just a fortnight away from releasing the findings of a definitive feasibility study at its Lake Wells sulphate of potash project.

Australian Potash boss Matt Shackleton yesterday hinted the company might announce the findings during next month’s Diggers and Dealers conference in Kalgoorlie-Boulder when he told the Kalgoorlie Miner it would be a “shame to miss the opportunity”.

“We are in the last fortnight of the last programs of work in the field for the definitive feasibility study at the Lake Wells potash project,” he said.

“So it’s been five years we have been working on it and that’s all about to come to a conclusion.

“That means we will now hunker down for the next two to three weeks and write up the findings for the definitive feasibility study and we’ve obviously got Diggers and Dealers coming up at the beginning of August so we would hope to be in a position shortly to make disclosure about the findings of the definitive feasibility study.”

Salt lakes of the northern Goldfields have emerged as one of two key hubs for the industry with the Lake Wells pilot project 100km north-east of Laverton.

The company yesterday announced to disallowed it had received a $1.3 million research and development tax incentive from the Australian Taxation Office for activities during the 2018 financial year end.

Mr Shackleton said the cash put the company in a strong position.

“The best part about an R and D grant it is an undiluted capital raising meaning we’ve got more cash in the bank and we haven’t had to issues shares to get it,” he said.

“That’s a recoupment of expenditure that we’ve laid out. We are busy preparing the 2019 claim now.”