Reward Minerals completes funding round

Reward Minerals (ASX:RWD) has successfully completed Tranche 2 of a $2.3 million placement. This tranche raised $0.6 million through the issuance of 10 million shares and 5 million free attaching options. The funds were primarily sourced from Executive Director Dr. Michael Ruane. Shareholder approval was obtained at a General Meeting on December 16, 2024, also endorsing the acquisition of the Beyondie Potash Plant.

Strategic outlook and future plans

Reward Minerals is advancing its potash exploration and development with the successful completion of a $2.3 million placement. The company aims to integrate new potash projects with solar salt operations in Western Australia. The recent acquisition of a cost-effective potash processing plant supports their strategy to become one of the most capital-efficient potash producers. Reward Minerals plans to collaborate with the solar salt industry to further its projects in early 2025, utilizing their innovative Reward Process technology. The company's focus on strategic projects and technological advancements positions it for growth in the potash sector.

Executive insights on pivotal year ahead

2024 is a pivotal year for the company as it seeks to combine new potash projects with existing solar salt operations in Western Australia. The company has acquired a top-quality potash processing plant at a fraction of its replacement cost, which could establish it as one of the most capital-efficient new potash projects globally.