News and Announcements
Kalium Lakes (ASX: KLL) announces AU$20.8M investment from Greenstone
- Published April 10, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Highlights
- Kalium Lakes (ASX: KLL) has announced an investment of A$20.8 million from Greenstone Resources.
- The investment will fund the Beyondie Project in Western Australia to facilitate its xpansion with key infrastructure purchases.
- The Greenstone funding adds to the current project funding of A$74 million from NAIF and A$102 million from KFW, taking Greenstone’s share in Kalium Lakes to 19.99% once completed.
Kalium Lakes (ASX: KLL) has announced an investment of A$20.8 million from Greenstone, part of the Greenstone Resources II LP Group. The investment will fund the Kalium Lakes’ Beyondie Sulphate of Potash Project (Beyondie Project) in Western Australia.
The funding will be put towards the purchase of long lead items, pond construction, bores, trenches, pumping equipment, accommodation village installation, RFDS airstrip, administration and work-shops. These purchases will help Kalium Lakes to reach its goal of achieving Australia’s first commercial SOP production in 2020.
In addition, Kalium Lakes welcomes experienced Director, Stephen Dennis to the Board, currently a Chairman on five ASX listed Boards.
The Greenstone funding adds to the current project funding of A$74 million from NAIF and A$102 million from KFW. Once completed, Greenstone will hold a 19.99% stake in Kalium Lakes.
Read the ASX Release HERE.
About Kalium Lakes (ASX: KLL)
Kalium Lakes Limited is an exploration and development company, focused on developing the Beyondie Sulphate Of Potash Project in Western Australia with the aim of producing Sulphate of Potash (SOP), a high yield, premium fertiliser, for both domestic and international markets. There is currently no SOP production in Australia.
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