Reward Minerals raises $2.3 million for Beyondie Potash Plant acquisition [Video]

Reward Minerals Ltd (ASX:RWD) CEO Lorry Hughes joins Proactive’s Tylah Tully to discuss the company’s efforts to raise $2.3 million through a share placement, selling over 38 million shares at $0.06 each, including one free attaching option per share.

The funds will be used for an engineering scoping study focused on a sulphate of potash (SOP) project in Western Australia, using Reward’s proprietary processing technologies and components of the Beyondie Potash Plant, which the company aims to acquire.

The company plans to engage with global entities in the solar salt, fertiliser and desalination sectors to explore joint ventures based on its SOP technology.

Hughes expressed that investor support reflects confidence in the company’s future, with the Beyondie acquisition being pivotal for its transformation into a leading SOP producer.
The acquisition could also help significantly reduce development costs for future projects.

The company’s flagship asset is the Carnarvon Potash Project, located in north-western Western Australia.

Reward Minerals also owns proprietary technology for recovering high-purity SOP from seawater and other sulphate-rich brines, further solidifying its position in the global SOP industry.

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