Sev.en Global Investments, Prague, a Czech Republic-based family-owned investment group, has recently signed a deal to buy ASX-listed bankrupt sulfate of potash (SOP) junior Salt Lake Potash (SO4), Perth, according to a Sept. 19 report in the Australian Financial Review. The sale price was not immediately available, and Sev.en had not responded to inquiries at press time.
Salt Lake had hoped to be Australia’s first SOP producer with its Lake Way project in Western Australia, however, mounting debt and a delayed ramp-up eventually caused creditors to take over last year (GM Oct. 22, 2021). At full production, SO4 had planned an output of 245,000 mt/y, and at one point it reported 224,000 mt/y of binding offtake agreements for five- and ten-year terms (GM March 26, 2021; Dec. 20, 2019).