News and Announcements
Kalium Lakes lodges new tenement application for 10 Mile Lake West
- Published October 29, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Kalium Lakes has entered an agreement with AIC Resources Limited (AIC) to acquire a portion of AIC’s tenement.
- The application is for the 10 Mile Lake West.
- The new project is located adjacent to the company’s current Beyondie Sulphate Of Potash Project.
Kalium Lakes has entered an agreement with AIC Resources Limited (AIC) to acquire a portion of AIC’s tenement.
The application has been lodged for for the portion of land named the 10 Mile Lake West.
The new project is located adjacent to the company’s current Beyondie Sulphate Of Potash Project.
The consideration paid to AIC for the new area of land is 5 million fully paid ordinary shares and 5 million options to acquire shares in Kalium Lakes.
The Shares and Options issued to AIC are subject to a 12 moth escrow period.
About Kalium Lakes Limited (ASX: KLL)
Kalium Lakes has completed a Bankable Feasibility Study (BFS) for the Beyondie SOP Project, aiming to commence production at 82ktpa of SOP, before ramping up to 164ktpa of SOP. First production is anticipated in 2020 with an initial mine life of between 30-50 years. The Project has been designed to be a low cost, long life and high margin producer.
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