Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kalium Lakes (KLL) prepares to ramp up production ahead of its first commercial sale from its Beyondie sulphate of potash (SOP) project in Western Australia
  • The company has produced 1000 tonnes of commercially saleable SOP, which is expected to be sold this month to its offtake partner, K+S
  • Plant optimisation works are scheduled for next month, with production to ramp up in September
  • KLL is targeting an 80,000 tonne per annum SOP production run rate in the first quarter of 2023, with the targeted 120,000 tonnes per annum expected in the third quarter of 2024
  • Shares are up 1.64 per cent to trade at 6.2 cents at 10:35 am AEST

Kalium Lakes (KLL) has prepared to ramp up production ahead of its first commercial sale from its Beyondie sulphate of potash (SOP) project in Western Australia.

The company produced 1000 tonnes of commercially saleable SOP, which is expected to be sold this month to its offtake partner, K+S.

Plant equipment testing will continue this month, with the process design now validated.

KLL is aiming to achieve an 80,000 tonne per annum SOP production run rate in the first quarter of 2023, with the targeted 120,000 tonnes per annum expected by the third quarter of 2024.

To execute this, the plant will be shut down next month for optimisation works, before production ramps up in September.

Heavy rainfall has resulted in a six-week delay due to longer evaporation periods in pond salt precipitation. However, the company does not expect this to impact the ramp-up of production.

The company has flagged the need for further funds and has advanced discussions with financiers.

It currently has $21.3 million in cash and has drawn down $178.4 million from senior debt facilities.

CEO Len Jubber said he was pleased with the support seen from its senior lenders.

“Validating our process route in recent months has been powerful in demonstrating the long-term future of the operation,” he said.

“We now look forward to delivering on the promise offered by the Beyondie SOP project over the second half of this calendar year and beyond.”

Shares were up 1.64 per cent to trade at 6.2 cents at 10:35 am AEST.

KLL by the numbers
More From The Market Herald
The Market Herald Video

" Caprice Resources (ASX:CRS) intersects shallow gold at Island Gold Project

Caprice Resources (ASX:CRS) intersects shallow gold mineralisation at its first reverse circulation drilling program at the…

" Orion Minerals (ASX:ORN) raises $1.35m in SPP

Orion Minerals (ASX:ORN) has raised $1.35 million in its share purchase plan (SPP) to advance its…

" Future Metals (ASX:FME) to raise $5.5m for Panton

Future Metals (ASX:FME) has received firm commitments for a heavily oversubscribed $5 million placement.

" Firebird Metals (ASX:FRB) raises $3.5m to accelerate Oakover development

Firebird Metals (ASX:FRB) has received firm commitments to raise $3.5 million via a placement from sophisticated…