Tony Swiericzuk, CEO of SO4 explains how their equity placing enables the financial close on their debt facility

Tony Swiericzuk, Chief Executive Officer of SO4 #SO4 explains how their equity placing enables the financial close on the US$138m debt facility.

The Lake Way Project remains on schedule for first SOP production in March 2021 and first SOP sales in April 2021. The project capital budget remains unchanged at A$264m and the overall project was 77% complete on a value earned basis as at 30 November 2020.

Key project workstreams continue to progress with engineering now 99% complete, plant and non-process infrastructure contract awards 99% committed, structural steel 65% complete and the APA gas pipeline now 25% complete.

In November 2020 the Company commenced harvesting first plant feed salts from the Train 1 pond network in preparation for plant commissioning, which is expected to commence in February 2021.