Central road

Australian Potash Ltd Highlights Federal and State Government Commitment to Great Central Road, Including Lake Wells SOP Project Logistics Route

The Great Central Road runs east from Laverton to the WA-NT border and is an integral part of the logistics solution that APC has designed with its project logistics provider.

Australian Potash Ltd (ASX:APC) has highlighted the $500 million federal and state government commitment to the final Great Central Road upgrade program, which will include the logistics route for its flagship Lake Wells Sulphate project of Potash (LSOP).

Governments will co-fund the sealing of the last 736 kilometers of the world’s longest shortcut – the Great Central Road, known locally as the “Outback Way”.

Great Central Road runs east from Laverton to the WA-NT border and is an integral part of the logistics solution that APC has designed with its project logistics provider.

The LSOP is accessible via 80 kilometers of the Great Central Road and the Lake Wells Road.

huge profit

APL Managing Director and CEO Matt Shackleton said: “One of the enduring characteristics of the LSOP is its location in relation to road and rail infrastructure.

“The additional cost of developing an integral logistics infrastructure would weigh heavily on the economics of most new project developments, and we are fortunate not to face this challenge.

“The commitment of the state and federal governments to complete this vital infrastructure brings tremendous benefit to our SOP project, providing an additional 80 kilometers of high-quality sealed road.

“The positive impact on the operating economics of road transport to Leonora, where we will benefit from rail, and to Geraldton, will be significant.

Laverton Training Center

“The Laverton Training Center, an APC non-profit initiative, is expected to begin training its first cohort of interns at the end of February, and we look forward to working closely with sealing contractors from Great Central Road to discuss employment opportunities. over the next few months. »

The statement from the WA State Government can be found here.

Capital raising

In December, the company increased proceeds from its recent fundraising to $12.477 million after completing a stock purchase plan to advance the flagship Lake Wells Sulphate of Potash project in WA.

SPP applications were received from eligible shareholders for a total of $477,000, representing 5,962,500 fully paid common shares at $0.08 per share, the same issue price as the placement which raised $12 million. dollars.

It is expected that the funds will be used primarily to advance drill field development activities and earthworks associated with the LSOP, as well as working capital.