Australian Potash offers some shares

Australian Potash has completed the placement of 40 million own equities in the amount of $2 million among the eligible shareholders.

The company will use proceeds to implement the Lake Wells Potash project, which presumes the creation of potassium sulfate production from underground brines.

Australian Potash has already prepared an experimental network of ponds. It includes a large pond for preconcentration of the aqueous solution of salt and three smaller ponds for the salt precipitation of sodium, magnesium and potassium. The initial batch of three tons has already been obtained from the brines.

Australian Potash has plans to complete a full-fledged enterprise with a capacity of 150 thousand tons of potassium sulfate per year in the first five years of operation and subsequently, increase the capacity to 300 thousand tons per year.