Goldphyre Resources Limited: Half Year Accounts
23.02.2016 | ABN Newswire
Perth, Feb 23, 2016 - During the half year ending 31 December 2015, Goldphyre Resources Limited (ASX:GPH) explored its 100% owned Lake Wells Potash Project.In December 2015 the Company announced that it had entered into a Sale and Split Commodity Agreement with a company controlled by successful WA prospector Mark Creasy. The agreement grants the Company rights to all potash minerals on two tenements adjoining its existing Lake Wells Potash Project tenure, effectively tripling the Project. Within 6 months of completing the transaction, the Company will in turn issue to Mr Creasy's entity Yandal Investments Pty Ltd shares equalling 19.9 percent of its issued ordinary share capital at that time and a total of 6.8m options with exercise prices of 10 and 15 cents.
During the period ending 31 December 2015, the Company was awarded a $108,000 grant by the WA Government to co-fund exploration drilling at the Lake Wells Potash Project. The funding, which will be provided under the Exploration Incentive Scheme administered by the Department of Mines and Petroleum, will be put towards the core drilling program planned as part of the Company's strategy to establish a maiden potash Resource at Lake Wells by mid-2016.
To view the full financial report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-GPH-753643.pdf
About Goldphyre Resources Ltd
Goldphyre Resources Ltd (ASX:GPH) is a minerals exploration company focussed on advancing its key project, the Lake Wells Potash Project. Located approximately 400 kilometres north-east of the Eastern Goldfields centre of Kalgoorlie, the Lake Wells Potash Project is being explored for the premium fertiliser mineral Sulphate of Potash (SOP), contained within the lake brines. Targeting the domestic demand from Australian farmers for this essential plant macro-nutrient, the Lake Wells Potash Project's location, access to infrastructure, including roads, rail and air services, and the very strong potassium (K) grades returned to date, all highlight its very strong merits.
Contact
Goldphyre Resources Ltd.
Matt Shackleton, Executive Chairman
e: m.shackleton@goldphyre.com.au
m: +61 (0)438 319 841
Brenton Siggs, Technical Director
e: b.siggs@goldphyre.com.au
m: +61 (0)427 075 225
Media:
Paul Armstrong/Nicholas Read
Read Corporate
t: +61 (8) 9388 1474
