Salt Lake Potash Ltd (ASX:SO4) chief executive officer Tony Swiericzuk has purchased shares worth $128,733 in on-market transactions.

Swiericzuk acquired 363,053 shares increasing the number of securities he holds to more than 2.01 million.

In February the company completed the construction of 400 hectares of evaporation ponds and 35 kilometres of brine abstraction trenches at its Lake Way Sulphate of Potash Project in Wiluna, Western Australia.

Stage 2 pond filling with brine

“Significant construction milestone”

Swiericzuk said this was a significant construction milestone and represents a further significant de-risking of the project.

“The rapid delivery of the Lake Way SOP Project continues.

“Completion of the Stage 2 ponds, ahead of schedule and on budget, means the company now has the infrastructure in place to supply harvest salts to the process plant in 2021.

“As these key milestones are completed the project continues to be significantly de-risked with expected first SOP production now just 10 months away.”