Salt Lake Potash Ltd (ASX:SO4) non-executive director Matthew Syme, its former chief executive officer, has acquired 750,000 shares in the company for $300,000.
The transaction came about through the exercise of incentive options priced at 40 cents and increases Syme’s holding in the company to 5.25 million shares.
Salt Lake Potash is the owner of nine large salt lakes in the Northern Goldfields Region of Western Australia.
The immediate focus is on the rapid development of the Lake Way Project, intended to be the first salt-lake brine sulphate of potash (SOP) production operation in Australia.
Construction commenced in March 2019 on Australia’s first commercial scale on-lake evaporation ponds.
The construction of the initial Lake Way Ponds is on track to be completed by the end of the current June quarter.