The trading halt will remain in place until the beginning of trade on Thursday August 29 or when an announcement is made to market – whichever occurs earliest.
The company recently revealed an upgrade to its resource estimate to 18.1 million tonnes on August 5, which has been incorporated into the DFS.
“Most rigorous technical approach”
Australian Potash managing director and CEO Matt Shackleton said at the time: “APC has always applied the most rigorous technical approach to the work we do at Lake Wells.
“This is reflected today in the quality of this upgraded mineral resource estimate.
“Based on data from more than 60,000 metres of drilling, 300,000 metres of seismic surveys and 1,329 exploration holes that has been completed by APC and others at Lake Wells, today’s resource estimate upgrade establishes an extremely solid base for the reserve estimate underpinning the definitive feasibility study.”