Salt Lake raises A$13m for Lake Way

ASX-listed Salt Lake Potash will raise A$13-million through a share placement to institutional and sophisticated investors, to fund the development of its Lake Way project, in Western Australia.

The company on Friday said that some 31-million new shares will be placed at a price of 42c a share, representing a discount of 13.4% to Salt Lake’s last closing price of 48.5c a share.