On December 28, 2018, Australian Potash Limited (ASX: APC) came forward and made an announcement related to the pilot processing facility with the help of the press release. The company happens to be the minerals exploration company which has maintained its focus towards its important Lake Wells Potash Project. According to the press release issued, the company’s pilot processing facility got three tonnes of final potassium rich harvest salts. It is also important to note that the facility which has been referred above is in Canning Vale. The final potassium rich harvest salts which have been referred above was a result of Lake Wells pilot evaporation program. This achievement happens to be a big one for the sector as well as for Australian Potash Limited.
The top management of the company also stated their comments. According to them, the company has been focusing towards the refinement as well as the development of site evaporation model. They also added that the in order to plan the SOP (or Sulphate of Potash) processing strategies as well as commercial scale development, the knowledge with regards to salts’ chemistry which are produced as a result of natural evaporation cycle is of utmost importance.
According to the management of Australian Potash, there are plans which relate to the production of Australia’s first field evaporated SOP which might be beneficial for the company’s MOU off-take partners as well as for the company itself. These plans are expected to be executed in January 2019. The press release which got released also contained information that the company has been working for the development of operation which could provide beneficial fertilizer to Australian and south-east Asian markets as well as to Western Australian markets and at a cost which could help the use of SOP over MOP.
Not so long ago, Australian Potash Limited has reported its quarterly report for the September 2018 quarter. The company’s net cash which was used in the operating activities amounted to $1.09 million in the September 2018 quarter. During the same period, the company has made payments towards exploration and evaluation, administration and corporate costs as well as towards the staff costs.
Let us now quickly have a look at the performance of Australian Potash Limited. At the time of writing the stock price of the company is trading in the red. At present, the stock is trading at A$0.071 per share which implies the fall of A$0.001 per share or 1.389% on the intra-day basis. The market capitalization of Australian Potash Limited stood at $21.97 million, and the stock price of the company is trading slightly towards the lower range. We will now have a look at how the stock has performed from the past few months.
Over the time span of six and three months, the stock has managed to deliver the return of 16.13% and 5.88%, respectively. However, in the previous one month, the stock of Australian Potash Limited delivered the return of 5.88%.
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