Salt Lake Potash Declares Itself Insolvent

Salt Lake Potash Ltd. said Wednesday that the company is insolvent or likely to become so in the future, MarketWatch.com reported. The Australia-focused fertilizers company has appointed administrators, receivers and managers to market the company and its assets for sale and recapitalization. The group had warned in July that it needed to raise money before the end of the year in order to continue operating its Lake Way project. One month later, in August, Chief Executive Officer Tony Swiericzuk resigned. Read more.
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