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Australian Potash Ltd

Australian Potash adds financial expertise through appointment of CFO

Scott Nicholas brings experience across a broad range of financial disciplines in the resources sector.

Phosphate fertiliser
The company is moving to the next phase of development at Lake Wells Potash Project

Australian Potash Ltd (ASX:APC) has added financial experience to its executive team through the appointment of Scott Nicholas to the position of chief financial officer (CFO).

This comes as the company turns its focus to the next phase of development of the Lake Wells Potash Project in Western Australia’s Eastern Goldfields.

Nicholas’ experience includes large-scale debt and equity project financings, construction and operations contract negotiations, asset acquisitions, and the negotiation and execution of offtake agreements.

READ: Australian Potash begins evaporation pond trials at Lake Wells Potash Project

Managing director and CEO Matt Shackleton said: “As we progress through the final two programs of work in the field, we are turning our attention to the next phase in our development.

“We are very pleased to welcome to our team a person of Scott’s proven experience and abilities.

“As an experienced CFO, Scott has in the past built debt-equity project financing books in excess of $500 million and been instrumental in all facets of project development, from asset acquisition through to production, including the detailed and complex contract negotiations those processes entail.

“Scott is going to be a tremendous addition to our team.”

Nicholas began his career at KPMG and subsequently at Ernst & Young in the Corporate Finance practice.

In 2015, he was one of the founding directors and CFO of MACH Energy Australia Pty Ltd, a company that acquired the greenfield Mt Pleasant coal project in NSW from Rio Tinto for $US220 million.

He subsequently led the debt, equity and guarantee financing for the development of the 10.5 million tonnes per annum operation and was involved in the tender and negotiation processes for the construction, operations and offtake contracts.

ASX and compliance experience

Prior to MACH, Nicholas acquired significant ASX and compliance experience with Atlantic Limited as CFO.

In this role, he was instrumental in raising over $500 million in debt and equity to acquire, develop and commission a Western Australian vanadium project.

Nicholas is a Chartered Accountant, who holds a Graduate Diploma of Applied Finance and a Bachelor of Laws & Commerce.

READ: Australian Potash’s Lake Wells SOP Project gets confidence boost with adoption of JORC brine guideline

Following the release of a scoping study in 2017, APC has been conducting a definitive feasibility study (DFS) into the development of the Lake Wells project, 500 kilometres northeast of Kalgoorlie.

The company is aiming to release the findings of the DFS in the second half of 2019.

Quick facts: Australian Potash Ltd

Price: $0.11

Market: ASX
Market Cap: $39.33 m
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