logo-loader

Reward Minerals to grow cash position

Published: 22:00 16 Jun 2015 EDT

au_corn_leaves_350_5580cde56c3db

Reward Minerals (ASX:RWD) is preparing to reveal details of a capital raising.

The company is delineating and de-risking its LD Potash Project in Western Australia.

The LD Project currently has a 24.4 million tonne potassium sulfate (SOP)resource hosted in a geologically rare brine deposit from surface to an average of 4 metre depth.

The ASX has granted the company a trading halt, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Friday 19th June 2015, or earlier if an announcement is made to the market.


Scoping Study metrics

A Scoping Study suggests that the LD Project is globally significant with potentially the lowest capital intensity SOP project worldwide.

The total capital cost estimate is A$320 million, with a low mine gate operating costs of A$204/t SOP.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.