Reward Minerals Ltd CEO Lorry Hughes spoke to Thomas Warner from Proactive after the potash-focused advanced-stage technology and development company announced it has entered into an exclusivity deed with the receivers of Kalium Lakes Limited relating to the potential acquisition of the Beyondie Sulphate of Potash (SOP) Project in Western Australia.
The interview delves into the implications of this acquisition and its role in advancing Reward Minerals' potash processing technology.
Hughes said the market responded positively to this news, with a notable increase in the share price.
He emphasised the potential of the Beyondie Project to fast-track the development of Reward Minerals' potash processing technology. The acquired site was operational until recently but faced challenges leading to administration. Hughes expressed confidence in overcoming these challenges and leveraging the existing infrastructure, which includes a 230-man camp and a gas-fired power station, to enhance Reward Minerals' potash processing capabilities.
When questioned about the next steps after the announcement, Hughes outlined a busy schedule for the upcoming months. The deal is set to close, and funding is expected to be secured by January of the following year.
Hughes expressed excitement about the opportunities the acquisition presents, with plans to initiate technical programs and feasibility studies over the next 12 months.
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