Reward Minerals is an ASX-listed (Code: RWD), advanced stage exploration and development company focussed on its wholly-owned Lake Disappointment brine Sulphate of Potash (“SOP”) Project, located in north-western Western Australia.
The Project hosts one of the world’s highest grade and largest brine SOP deposits, with an Indicated and Inferred extractable Mineral Resource of 153 Mt of SOP with an average in-situ grade of 11.3kg/m3 SOP. The Indicated Resource is a shallow (less than 5 metres), extractable Resource of 12.4 Mt grading 13.4kg/m3 SOP.
A reduction in arable land per capita due to the world’s growing population means that global food security is one of the world’s key investment themes underpinning the attractiveness of the world’s fertiliser minerals sector. This fact, coupled with a rapidly growing middle class which will drive even greater demand for premium fertilisers like Reward’s SOP, provides the foundation for the Company’s vision and its strategy to develop the world’s longest life, largest brine SOP operation outside China.
Knowing that large, shallow, high grade brine SOP deposits are globally scarce and that these projects have significant operating cost benefits over other production methods, Reward’s Lake Disappointment Project:
Key outcomes from the PFS which was completed earlier this year include:
Reward is committed to ensuring that the Project maximises training, development, employment and small business opportunities for people from its local indigenous communities.
Plans and Latest Developments:
Reward’s class-leading, successful PFS identified a number of opportunities to reduce capital and operating costs, enhance confidence and improve overall economics of the Lake Disappointment Project. It has already completed a major brine abstraction trial and announced a reduction in product logistics costs whilst also investigating:
It is also continuing with its evaporation pond trials and engaging with state and federal regulators to progress permitting. A major infill drill program commenced recently which will inform a resource update and new hydrological model which will enable the definition of a reserve.
Board of Directors/Management/Shareholders:
Reward’s Lake Disappointment is Australia’s largest and highest average in-situ grade brine SOP deposit. The Project could be the largest, longest life SOP producer outside China. The Company completed a class-leading, detailed and conservative PFS which confirmed a technically robust, economically attractive, large, long-life project which could be further enhanced.
An investment in Reward offers exposure to a Project with almost unrivalled strategic value. Shareholders stand to benefit as it is likely to attract interest from major players in a market seeking to satisfy one of the world’s greatest challenges and compelling investment themes – ensuring future global food security.
* 06 June 2023 (AUD)
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