SO4 have drilled and pump tested the initial brine extraction bore for the Lake Way SOP project. Over 17 days the bore flowed at a constant 18 litres per second with a Potassium grade of 15.9kg/m3 of SOP which is at a rate and grade higher compared to what was modelled in the BFS study. It was also observed that brine is draining from the overlying clay into the basal sands providing a level of recharge to the basal sands. This is a key positive in terms as it could impact the number of bores needed and be a positive for the mine life. Bores have been completed on two additional pads and test pumping is imminent. We maintain our BUY recommendation and $1.31 price target.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.