Lake Way Project - Funding Finalised

Lake Way Sulphate of Potash Project

Thursday, 6th August 2020

GR Engineering Services Limited (ASX: GNG) (GR Engineering) refers to its announcement of 15 June 2020 in relation to the contracts entered into with Salt Lake Potash Limited (ASX: SO4) (SO4) for the design and construction of the Lake Way Project processing plant and non-process infrastructure (Contracts).

GR Engineering is now pleased to announce that SO4 has finalised its funding for the Lake Way Project. The combined value of the Contracts is approximately $107 million, which GR Engineering anticipates will be realised predominantly in FY21.

Commenting on SO4 finalising its funding, GR Engineering's Managing Director, Mr Geoff Jones, said:

"We are pleased that SO4 has achieved a major finding milestone for the delivery of the Lake Way Project. This provides GR Engineering with certainty in relation to project execution and delivery timing. We look forward to continuing to successfully and safely deliver the Lake Way Project."

Ends.

ASX Release


About GR Engineering

GR Engineering specialises in providing fixed price engineering design and construction services to the global resources and mineral processing industries. GR Engineering has a proven track record of delivering integrated project solutions in over 20 countries across all major commodity types. As a group, GR Engineering employs more than 500 professional, technical and support staff throughout Australia and internationally, in addition to a direct construction workforce and subcontracted personnel.

GR Engineering Services Limited is listed on the Australian Securities Exchange (ASX: GNG).

For further information please contact:

Geoff Jones

Managing Director

+61 8 6272 6000

geoff.jones@gres.com.au

Omesh Motiwalla

CFO & Company Secretary

+61 8 6272 6000

omesh.motiwalla@gres.com.au

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