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Salt Lake Potash Limited (ASX: SO4)
Salt Lake Potash Limited (ASX:SO4) has been one of the favourite potash stock of investors. This can be well observed in the stock movement, which is maintained on the upward side of the graph with the stock price strengthening as high as 20.83% in the past three months.
The bullish market sentiments seem to be underpinned by the discovery of high-grade resources at the companyâs Lake Way tenements. As in the latest market update, Lake Way has been confirmed as an intensely high-grade resource asset an average grade of 14.5kg of SOP per cubic metre of brine across the Lake Way tenements.
This led the company to upgrade its Mineral Resource Estimate at Lake Way which now sits at an increased estimate of 8.2 million tonnes (Mt) based on Drainable Porosity and around 73 million tonnes (Mt) of SOP based on Total Porosity.
Located in the Northern Goldfields Region of Western Australia, Lake Way covers a surface area of over 270 square kilometres. The management believes that these encouraging Mineral Resource Estimate for the âwhole of the lakeâ will reinforce the companyâs current review process to consider a more extensive scale scenario at Lake Way. Further, the company intends to publish the technical outcome of the broader scale operation by the end of the second quarter of 2019.
SO4 last traded at A$0.570, down by 1.724%, with the market capitalisation of A$119.64 million as on 22 March 2019.
Australian Potash Limited (ASX: APC)
ASX-listed SOP explorer, Australian Potash Limited (ASX:APC) announced the half-yearly result for the period ended 31 December 2018.
APCâs wholly owned Lake Wells Potash Project is located about 500 kilometres northeast of Kalgoorlie, in Eastern Goldfields of Western Australia. APCâs wholly owned Lake Wells Potash Project is located about 500 kilometres northeast of Kalgoorlie, in Eastern Goldfields of Western Australia. The Mineral Resource at Lake Wells Sulphate of Potash (SOP) Project is currently estimated to 14.7 million tonnes of recoverable SOP, reflecting the wide, long and deep palaeochannel that APC has delineated at the Lake Wells.
During the half-year, the Group joined hands with St Barbara Limited (SBM). It has entered into an Earn-in & Joint Venture Agreement for the Lake Wells Gold Project. As per the agreement, SBM will pay $1.25 million in cash consideration to APC at the time of entering and will also pay a minimum exploration expenditure of $1.75 million in the first year. With the continued progress at the site, APC and SBM have planned to commence 23,500 meters Lake Well aircore drilling program by late March or early June Fiscal 2019.
The Group further incurred a loss of $1.56 million for the six-month ended 31 December 2018, significantly better than the previous corresponding periodâs loss of $3.02 million. Its net cash outflow was $1.05 million with cash as at the end of the period standing at $1.27 million.
APC last traded at A$0.076, up by 1.333%, with the market capitalisation of A$26.44 million as on 22 March 2019.
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