Salt Lake Potash Ltd - Process Plant Contracts Awarded
AIM/ASX Code: SO4
PROCESS PLANT CONTRACTS AWARDED
§ The Engineering, Procurement and Construction (EPC) contract involves the provision of plant, labour, materials and construction services for the process plant and NPI valued at
§ The Engineering, Procurement and Construction Management (EPCM) contract involves the provision of services for the engineering, procurement and construction management for areas of the process plant and NPI, valued at
§ Terms and risk allocation within the contracts have been approved by the Company's debt partner.
§ Following substantial progress in detailed engineering and vendor procurement, the Project capital budget has increased marginally from
§ Bulk earthworks for the site is now complete, while major vendor procurement is 77% complete and offsite fabrication acitivites are substantially progressed.
§ Construction of the permanent 100-person village was completed in April, with an additional 160 rooms also now complete in preparation for construction ramp up.
§ The EPCM and EPC contracts are conditional on financial close and GRES continue to advance project delivery under the existing early services arrangement.
TONY SWIERICZUK, Chief Executive Officer
"We are very pleased to have executed these contracts with GRES who have been a critical contracting partner by our side throughout the design development of the Lake Way processing plant and off-lake infrastructure since early 2019. The finalisation of these major Project contracts and the substantial engineering and procurement activity to date has further de-risked the
PROCESS PLANT DESIGN & CAPITAL BUDGET
The process plant has been designed by both
As part of the detailed engineering undertaken since completion of the Bankable Feasibility Study (BFS) in
Bulk earthworks for the process plant site are now complete, while major vendor procurement is 77% complete and offsite fabrication acitivites are substantially progressed. The Project remains on schedule for first sales in Q1, 2021.
For further information or to view a full version of this announcement, please visit www.so4.com.au or contact:
Tony Swiericzuk / Richard Knights
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Tel: +61 8 6559 5800
Colin Aaronson / Richard Tonthat / Seamus Fricker
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Tel: +44 (0) 20 7383 5100
Derrick Lee / Peter Lynch
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Tel: +44 (0) 131 220 6939
Rupert Fane / Ernest Bell
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Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the Company's Managing Director, Mr Tony Swiericzuk.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on
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Quick facts: Salt Lake Potash Ltd
Market Cap: £111.29 m
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