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Reward's Lake Disappointment potash project endorsed for environmental approval

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Reward's Lake Disappointment potash project endorsed for environmental approval

The board of Western Australia's Environmental Protection Authority recommended the minister of environment to approve the development of Reward Minerals Ltd.'s Lake Disappointment sulfate of potash project.

Lake Disappointment is only the second sulfate of potash project to achieve this recommendation, Reward CEO Greg Cochran said.

A July 2018 pre-feasibility study for the project pegged a posttax net present value, discounted at 8%, of A$292.8 million, a 14.9% internal rate of return and a 5.7-year payback period.