Dispatch of Rights Issue Offer Documents
Perth, Feb 22, 2019 AEST (ABN Newswire) - Australian Potash Limited (ASX:APC) (APC or the Company) advises that the Entitlement Issue Prospectus in respect of the Company's renounceable pro-rata rights issue, as released to ASX on 13 February 2019, and an Entitlement and Acceptance Form have been dispatched to shareholders with a registered address in Australia, New Zealand, Singapore or Hong Kong who were recorded as holding APC shares as at 4:00pm (WST) on 19 February 2019, being the record date for the renounceable pro-rata rights issue.
About Australian Potash Ltd
Australian Potash Limited (ASX:APC) is an ASX-listed Sulphate of Potash (SOP) developer. The Company holds a 100% interest in the Lake Wells Potash Project located approximately 500kms northeast of Kalgoorlie, in Western Australia's Eastern Goldfields.
Following the release of a Scoping Study in 2017, APC has been conducting a Definitive Feasibility Study (DFS) into the development of the Lake Wells Potash Project. The Company is aiming to release the findings of the DFS in H2 2019.
The Lake Wells Potash Project is a palaeochannel brine hosted sulphate of potash project. Palaeochannel bore fields supply large volumes of brine to many existing mining operations throughout Western Australia, and this technique is a well understood and proven method for extracting brine. APC will use this technically low-risk and commonly used brine extraction model to further develop a bore-field into the palaeochannel hosting the Lake Wells SOP resource.
A Scoping Study on the Lake Wells Potash Project was completed and released on 23 March 2017. The Scoping Study exceeded expectations and confirmed that the Project's economic and technical aspects are all exceptionally strong, and highlights APC's potential to become a significant long-life, low capital and high margin sulphate of potash (SOP) producer.
Australian Potash Ltd