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Australian Potash halted with offtake agreement news pending

The company already has agreements in place with Redoxi, Migaoii and Mitsui, totalling two-thirds of total annual expected production from the Lake Wells SOP Project in WA.

Australian Potash Ltd - Australian Potash granted trading halt with capital raising news pending
Total annual expected production from Lake Wells SOP Project is 150,000 tonnes

Australian Potash Ltd (ASX:APC) has an announcement pending in regard to an offtake agreement and has been granted a trading halt by the ASX. 

The trading halt will remain in place until the start of trading on Thursday, August 13, or when an announcement is released to the market, whichever occurs earliest.

Offtake deals

Australian Potash recently signed a long-form binding agreement with Mitsui & Co Ltd (TYO:8031) for the annual supply of 30,000 tonnes of premium K-Brite sulphate of potash (SOP) from its Lake Wells SOP Project (LSOP) in Western Australia.

This is the third agreement executed in the offtake program and covers the distribution of K-Brite through Asia, excluding China.

Australian Potash now has agreements in place with Redoxi, Migaoii and Mitsui, totalling two-thirds of total annual expected production of 150,000 tonnes of offtake across Australia, New Zealand, China and Asia.

Quick facts: Australian Potash Ltd

Price: 0.16 AUD

Market: ASX
Market Cap: $77.85 m

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