Salt Lake Potash to launch A$48mln share placing

Salt Lake Potash Ltd (LON:SO4) told investors it has made arrangements to raise A$48mln through a share placing.

The company, which is developing the Lake Way project in Australia, plans to issue new shares to investors at a placing price of 40 Australian cents.

READ: Salt Lake says project is 74% complete

Additionally, the company also seeks to raise a further A$5mln via a share purchase plan.

It added that the share will remain suspended and the company expects to release further details on December 11.