Salt Lake Potash CEO quits after production downgrade
By Sean Farrell
Date: Friday 27 Aug 2021
(Sharecast News) - Salt Lake Potash's chief executive Tony Swiericzuk has quit a month after the company cut its production target.
The company said it was in advanced talks with Swiericzuk's replacement and that his resignation would take effect when the new boss starts. He will stay on as a director and consultant to ensure a smooth handover.
Salt Lake shares fell 3.1% to 4.8p at 09:17 BST. The shares have lost almost 80% of their value in 2021 after the company cut its production forecast for the Lake Way project in Western Australia and said it would need to raise funds. Salt Lake said on Friday it was committed to Lake Way.
"The board would like to thank Tony for the energy and commitment he brought to the CEO role since joining the company in November 2018," Salt Lake said. "Tony has guided the permitting, financing, development and construction of the Lake Way Project, positioning SO4 as an industry leader in Western Australia."
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