SO4 has completed the financing package for Lake Way, and the project is on track to be completed early next year and produce the first saleable product. The Lake Way project is now fully funded to completion thanks to the finalisation of a $203m debt arrangement and a $98m capital raise. The project is progressing well with crucial project deliverables such as the crystalliser being delivered to site and the brine gathering infrastructure being installed to transport brine to the evaporation ponds. We maintain our BUY recommendation with a restated price target of $0.96 (previous $1.31).
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