Australian Potash raises cash for Lake Wells studies

ASX-listed Australian Potash will raise up to A$5.2-million through a renounceable rights issue to complete a definitive feasibility study on the Lake Wells potash project, in Western Australia.

The company on Monday said that it would offer three rights shares for every 14 shares held, at an issue price of 8c a share. The company is also offering one free attaching listed option, exercisable at 12c each, on or before August 8, 2021, for every four rights shares subscribed to.