- Salt Lake Potash (SO4) has ended the week in a trading halt in regard to a potential capital raising
- The company will remain in the halt until May 25 or when more details are released, whichever occurs first
- In early May, Bryn Jones resigned as a Non-Executive Director due to increased work commitments
- Prior to joining Salt Lake Potash, Bryn worked for Worley Parsons on the Olympic Dam Expansion Project
- Shares in Salt Lake Potash last traded at 40 cents on May 18
Salt Lake Potash (SO4) has ended the week in a trading halt in regard to a potential capital raising.
The company will remain in the halt until May 25 or when more details are released, whichever occurs first.
Salt Lake Potash is yet to disclose how much it intends to raise or what it will do with the funds once they have been received.
In early May, Bryn Jones resigned as a Non-Executive Director due to increased work commitments.
Prior to joining Salt Lake Potash, Bryn worked for Worley Parsons on the Olympic Dam Expansion Project.
Throughout the March quarter, SO4 burnt through nearly $2.2 million with the majority going towards business development.
The company also invested $54.5 million on mine properties and development.
As of March 31, Salt Lake Potash had nearly $89.5 million in total available funding, representing 41 quarters of use if spending levels remain the same.
Shares in Salt Lake Potash last traded at 40 cents on May 18. The company has a $294.6 million market cap.